No-deal scenario threatens UK aerospace industry warns IMechE

The sector – which employs over 120,000 people - generated £35bn in turnover in 2017, with £30bn in revenue from exports, which grew 39 per cent between 2012 and 2017.

The industry, which is highly specialised and dominated by multinational companies, depends heavily on participation in European and global supply chains. The movement of skilled workers and the freedom to trade with customers, group companies and suppliers across the EU are key factors behind decisions to invest in the UK.

The report, UK Aerospace: The Impact of Brexit, warns that if the UK leaves the EU without an appropriate deal in place, then aerospace companies will face supply chain disruption and higher manufacturing costs if imports from the EU are subject to tariffs and restrictions.

It adds that if restrictions are placed on the movement of people and goods, these will create logistical problems for many companies due to a lack of readiness, as well as the cost and delay resulting from additional customs and immigration checks.