The vast majority of firms in the British aerospace industry are classified as small and medium sized enterprises (SMEs), according to the latest survey by the Society of British Aerospace Companies.
Up to 1,100 of the UK’s 1,500 aerospace-related firms employ under 250 employees and record sales of less than £330m the EU definitions of a SME. A high proportion are believed to be considerably smaller.
Some 60% of turnover generated by SMEs is supplied to the aerospace industry itself. A further 10% is supplied direct to the UK government.
Aerospace companies also spend more of their own funds on research and development than industry as a whole: 61% of aerospace SME research is self-financed, compared with the corresponding industry average of 51%.
The final set of graphs shows the latest available index of output for the production industries. In the three months to July, mining and quarrying (including oil and gas) increased 2.2%, while manufacturing output fell 0.1%.
Just under half of manufacturing industries have shown a drop in production compared to the previous three months, with machinery and equipment industries slipping back 2.5%.