Turnover grows for Midlands aerospace firms
Business turnover for the Midlands aerospace industry is continuing to grow, a survey has found.
The Midlands Aerospace Alliance's annual survey of member companies found there was growth in more than one area.
It tracks industry trends, with this year’s data revealing a rise in business turnover for the 13th year in a row.
Turnover within the region's aerospace cluster increased by 20 per cent between 2016 and 2018 alone. The latest MAA data also shows that since 2005, business turnover within the sector has doubled. Employment has also increased by 50 per cent.
Andrew Mair, chief executive of the Midlands Aerospace Alliance, said: “The performance of the Midlands’ aerospace cluster far outstrips that of the UK’s national economy. This strong growth is undoubtedly based on the strong strategic positions Midlands’ companies have built in supplying the large passenger aircraft manufacturers.
“It’s also interesting to note that while turnover continues to grow, employment seems to have peaked. This appears to be due to a combination of some skills shortages, rising investment in automation, significant productivity increases and some offshoring to low-cost countries.”
The Midlands aerospace sector continues to track the MAA’s key benchmarks for the industry, which is based around the rising total aircraft output by Airbus and Boeing combined.
In the region, this is led by Rolls-Royce, which is chiefly a designer and manufacturer of engines, components and parts for Airbus and Boeing passenger aircraft. Clusters in other regions may be more focused on military aircraft, helicopters, business jets and space, which the Midlands also supplies, but on a smaller scale.
The latest survey results come as the MAA taking part in one of the biggest industry events within the global aerospace sector – The Farnborough International Airshow.
This year’s event is taking place from today to Sunday and will play host to more than 1,500 companies.
There are 24 companies from across the Midlands exhibiting including Alloy Heat Treatment and MJ Sections from Dudley, Brierley Hill's Alloy Wire International, Kepston in Wednesbury and Jonathan Lee Recruitment, Stourbridge.
