Advanced materials add £49bln to UK economy
The Henry Royce Institute finds that more than 635,000 people work in the nation’s materials sector.
Their Materials Map shows engineering hotspots nationwide, with a high proportion of materials clusters in the Southeast and Northwest of England, Yorkshire and Scotland.
Analysis shows the advanced materials sector to be 2% of the UK’s total gross value added (GVA).
The Southeast of England is said to generate the highest regional GVA, with £8.7bln, from aerospace, defence and engineering, while the Northwest of England has the most advanced materials innovation businesses.
The sector has 85% of productive capability and 70% of businesses located outside London and the Southeast of England.
