-
- News
- Books
Featured Books
- design007 Magazine
Latest Issues
Current IssueBreaking High-speed Material Constraints
Do you need specialty materials for your high-speed designs? Maybe not. Improvements in resins mean designers of high-speed boards can sometimes use traditional laminate systems. Learn more in this issue.
Level Up Your Design Skills
This month, our contributors discuss the PCB design classes available at IPC APEX EXPO 2024. As they explain, these courses cover everything from the basics of design through avoiding over-constraining high-speed boards, and so much more!
Opportunities and Challenges
In this issue, our expert contributors discuss the many opportunities and challenges in the PCB design community, and what can be done to grow the numbers of PCB designers—and design instructors.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - design007 Magazine
Report Reveals ‘True Impact’ of Manufacturing is Nearly a Quarter of UK GDP
April 15, 2024 | Manufacturing Technologies AssociationEstimated reading time: 4 minutes
Manufacturing is having a far greater impact on the UK economy than first thought according to a major new report released today.
‘The True Impact of UK Manufacturing’, which will be unveiled at MACH 2024 in Birmingham later, shows industry is worth £518billion and supports 7.3million UK jobs directly and across the supply chains/communities it operates in.
This represents nearly a quarter of total GDP (23%) and far bigger than the direct contribution of 8.2% that is usually quoted by economists.
Carried out by Oxford Economics and the Manufacturing Technologies Association (MTA), the in-depth report also shows that ‘making things’ accounts for 34.5% of all UK goods and services exports, whilst the median wage is £31,300 – 11% higher than the national median wage.
The findings are even more impressive when you consider the sector has had to navigate a myriad of challenges outside its control in recent years, including changing relations with the European Union, the Covid-19 pandemic, unprecedented increases in energy costs and global supply chain fragility and international conflicts.
MTA’s Chief Executive Officer, James Selka is now urging the sector to build on this report by exploring ways in which it can address the skills shortage and develop successful programmes, such as the High Value Manufacturing Catapult Centres, to increase wealth creation by commercialising more of the great ideas and innovations born in the UK.
“This is a fantastic insight into the true impact of manufacturing in the UK and reinforces what many of us already know – that industry is a far greater contributor to GDP and jobs than listed in national accounts,” commented James.
“Our report has been designed to take a ‘deeper dive’ and looks at the direct, indirect, and induced impacts of manufacturing, which is a far more comprehensive overview of what we make, the complex nature of our supply chains and the economic benefit gained from the spending of wages by those employed in our sector.”
He continued: “The results illustrate that manufacturing accounts for £518bn of GDP and supports 7.3m jobs, most of which enjoy higher than average wages.
“We are also a part of the economy that invests heavily in new technologies, with nearly half (47%) of total R&D investment made by manufacturers. You only have to visit MACH this week to see this first-hand, with more than 500 companies showcasing the latest in automation and robotics, additive manufacturing, latest software, advanced CNC machining and measurement and inspection solutions.”
The MTA is now calling on a well-integrated commitment from the whole nation to help industry realise its potential, ranging from business leaders and academics to policymakers so crucial in developing a cross-party industrial strategy.
The recent Advanced Manufacturing Plan - accompanied by support worth £4.5bn - has been welcomed as a step in the right direction and an important vehicle in helping to cultivate the new technologies and industries being born, such as electrification, lightweighting, less carbon intensive materials and renewable energy.
Introducing new measures that increase exports should also be a priority and there is an unprecedented opportunity to deliver critical sovereign capabilities from public health to defending our realm.
MACH 2024
The True Impact of UK Manufacturing report will be officially launched at MACH 2024 by MTA President Tony Bowkett.
Set over five days at the NEC (15-19th April) in Birmingham, the event is the biggest in the UK’s industrial calendar and attracts over 30,000 people from the manufacturing community and more than 500 companies.
More than £200m of business is expected to be completed during the week as some of the country’s most innovative firms unveil new technologies and machines designed to boost productivity and global competitiveness.
MACH, which has a huge focus on sustainable manufacturing and carbon reduction through its six Knowledge Hubs, is also a big attraction for young people looking for a career in industry, with 3,500 students (aged between 12 and 18) set to attend the show.
Headline sponsors Lloyds Bank welcomed the findings of the latest report. David Atkinson, UK Head of Manufacturing SME and Mid Corporates, commented: “As this report highlights, manufacturing is an integral part of the UK economy, through GDP contribution, job creation, and as a source of high wages.
“When you consider the sector’s extended reach through its supply chains and beyond, you can really start to see the scale of its contribution.
“Manufacturers have demonstrated agility and resilience in the past few years of uncertainty, and we are responding by continuing to invest in partnerships in the sector that ensure it has the skills, tools and support needed to compete on a global scale.”
Stephen Phipson, CEO of Make UK, concluded: “Manufacturing has always been a strategically important sector for UK economy and, none more so than now, given the immense societal, political and economic challenges that we face.
“Just as the first industrial revolution provided a step change, the accelerating pace of technological change of the fourth industrial revolution gives us a generational opportunity to do the same now. This valuable report highlights to those in power now and in the future, how manufacturing is greater than the sum of its parts.”
Suggested Items
SEMICON West 2024 to Spotlight U.S. Chip Industry Investments, Supply Chain Resilience, Talent, and Global Growth and Innovation
05/15/2024 | SEMISEMICON West 2024 will gather industry experts and leaders July 11-13 at the Moscone Center in San Francisco for insights into the latest trends and innovations in sustainability, supply chain management, workforce development and other critical industry issues.
Using AI to Redefine Productivity
05/15/2024 | Nolan Johnson, SMT007 MagazinePlato Systems, a machine perception company spun out of Stanford University, employs AI and video data to analyze and optimize the human component in manufacturing. Initially focused on semiconductors, Plato Systems has expanded into EMS manufacturing. Co-founder and CEO Amin Arbabian, along with product advisor Anders Holden and head of growth Luis Vidal, discuss their approach to changeover optimization and its impact on productivity in the industry. They’ve also included customer Raj Vora in the conversation.
SMTC Strengthens Leadership for Future Growth: Ed Smith Promoted to Executive Chairman; Mike Buseman Joins as CEO
05/15/2024 | BUSINESS WIRESMTC Corporation, a leading North American provider of electronics manufacturing services, is pleased to announce the appointment of Mike Buseman as President & Chief Executive Officer, effective May 13, 2024.
ACDi Expands East Coast Presence with Acquisition of Fourth Manufacturing Plant
05/13/2024 | ACDiACDi, a leading provider of electronics manufacturing services, today announces the expansion of its East Coast presence and manufacturing capabilities with the acquisition of a fourth manufacturing plant in Kilmarnock, Virginia. The company signed an asset purchase agreement with QinetiQ to acquire their Virginia facility and its assets, including SMT, wave soldering, AOI and SPI equipment. The deal brings ACDi to 4 East Coast locations with a total of 9 SMT lines.
LPKF is Ready for Increasing Demand for Glass Substrates in the Semiconductor Industry
05/13/2024 | LPKFThe semiconductor industry is shifting towards glass to package the most advanced semiconductor chips. LPKF’s mature LIDE technology is enabling that transition into this new era from ramp-up to high volume manufacturing.