UK ranks 4th globally and top for Europe
Our annual aerospace manufacturing attractiveness rankings report is a guide to promising geographic locations for aerospace development.
The 2019 Aerospace Manufacturing Attractiveness report assesses a range of aspects such as cost, economy, infrastructure, labour, industry, and tax policy. This year's edition ranks the UK at 4th globally and top in Europe for Aerospace and Defence manufacturing attractiveness. The US secured the overall top spot globally, closely followed by Canada and Singapore.
The global Aerospace and Defence (A&D) industry delivered record levels of operating revenue and operating profit in 2018, both increasing by 9% over the prior year. Commercial aerospace is forecasted to continue to grow at roughly twice the rate of global GDP for the foreseeable future. With revenues of $46 billion, the UK has a strong A&D industry. Despite Brexit uncertainty the UK continues to be a strong competitor when it comes to investment and expansion opportunities and as a contributor to global markets. The launch of a new Future Flight Challenge initiative at the end of last year saw the government commit up to £125m to develop new technologies such as drones and urban air vehicles. In addition, the government is investing £2 billion through 2025 in a next generation fighter jet, the “Tempest,” and announced it would be seeking international partners to provide additional funding.