Since 2012, UK electronic systems industry has grown from employing 850,000 to just over 1m in the UK; 3.3% of the UK workforce, up from 2.9% in 2012.
- Around half of this employment is found in the 30,000 enterprises whose business is overtly the provision of Electronic Systems and the technologies and capabilities they need.
- The other half of Electronic Systems employment is embedded within businesses that would classify themselves by vertical market domains: such as aerospace, defence, healthcare, retail, media and education. Here Electronic Systems are a vital enabler to their primary product or function to improve functionality, reliability, reduce cost etc.
The direct economic contribution from the UK electronic systems industry is now £98bn, up from £78 bn in 2012, 5.76% of UK GDP.
For the sectors industrial strategy it is important that a ‘one size fits all’ approach is not taken. The UK needs to continuously enhance its capability to produce high-tech start-ups, but it also needs to acknowledge that around half of employment within the sector is in companies in the 250+ category; a significant proportion of which are multinational corporations that continue to invest in the UK in the face of significant international competition.
To see Ian Phillip’s video presentation of the latest ESCO analysis, click here
To see the full analysis, go to ESCO Economic Calculations 14 vs 12 6 july 2015