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New PwC report ranks nations aerospace manufacturing investments

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New PwC report ranks nations aerospace manufacturing investments

A new PwC report has been released that assessed the attractiveness of aerospace manufacturing investments by nations.

The US has taken top spot, closely followed by Canada, Singapore and the UK , wich has revenues of $46 billion.

Germany and the Netherlands follow closely behind at seventh and eighth, respectively.

The 2019 Aerospace Manufacturing Attractiveness report assesses a range of aspects such as cost, economy, infrastructure, labour, industry, and tax policy.

Roland Sonnenberg, head of UK aerospace and defence at PwC, commented: “We’ve seen a lot of speculation that uncertainty over Brexit terms and the potential disruption to global supply chains may impact the ability to attract global investment and meet production timetables. But this analysis shows that the UK continues to be a strong competitor when it comes to investment and expansion opportunities.

“The launch of a new Future Flight Challenge initiative at the end of last year, which saw the government commit up to £125m to develop new technologies such as drones and urban air vehicles has gone some way to stabilising the UK’s 2019 ranking, especially as industry is expected to more than match this investment.

“The UK has a real depth of talent and capability in the sector, which remains well positioned to support the economy as we continue to make a strong and vital contribution across global markets.”

The report also highlights an announcement in July 2018 by the UK Defence Minister, in which the government has pledged to invest £2 billion over the next six years in the next-generation fighter jet, the ‘Tempest’, along with the intention to seek international partners to provide additional funding.

According to the report, the global Aerospace and Defense (A&D) industry delivered record levels of operating revenue and operating profit in 2018, both increasing by 9% over the prior year. It also notes that commercial aerospace is forecasted to continue to grow at roughly twice the rate of global GDP for the foreseeable future.