Aerospace Industry
(asked on 10th March 2020) - View Source
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government what is the annual value of the aerospace sector to the UK economy.
Answered by
Lord Callanan
Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
This question was answered on 24th March 2020
In 2018, the UK aerospace sector had an annual turnover of around £33 billion, the majority of which was generated through exports. Between 2009 and 2019, the sector had an average gross value added (GVA) of £9 billion, accounting for 5% of the UK’s total manufacturing GVA. During this period, productivity growth in the sector (measured by GVA per job) grew at a pace of over four times that of the UK economy as a whole