RBS releases high value engineering report
Above: Graham Chisnall, Deputy CEO and MD of aerospace at ADS.
The report provides an insight to the potential opportunities for growth arising within high value engineering - including the aerospace and defence sectors - over the coming 10 to 15 years with new game-changing technologies and manufacturing processes that will propel the segment forward, whilst helping to transform manufacturing forever. It is based on research featuring a number of high profile UK manufacturing business leaders, think-tanks and academics, with endorsement from John Cridland at the CBI who has contributed forewords to the report alongside our CEO Mark Catton and Peter Russell.
It says that cutting edge innovation - from structural batteries to lightweight materials and a new generation of composites - will help kick-start the next industrial revolution, revealing that the UK’s growing number of high value engineering businesses are well placed to participate in a global manufacturing market which is introducing game-changing technologies that will be worth £800bn by 2015.
Featuring contributions from leading sector specialists, the report provides insight into a segment that not only has the potential to help accelerate the UK’s recovery out of recession but also to change global economies.
Key findings of the 36 pages report include:
- Positive market outlook: Eight out of 10 businesses expect their turnover to grow over the next five years, with 27% of SMEs predicting growth of more than 30%.
- Vital strategies for growth: Investment in technology, sophisticated data capture, product diversification and customisation are key to position the UK’s HVE firms at the forefront of a new high-tech world.
- Cities of excellence: Birmingham, Sheffield and Manchester will lead a new High Value Engineering revolution.
- Mastering key challenges: 74% of businesses worry that skill shortages will impair future growth and competitiveness. A contract between industry and universities and new apprenticeship schemes are needed to defuse the twin time bombs of a widening skills gap and a depleted supply chain.
