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In that year the sector had a turnover of £52.5 billion, generated £26.6 billion of exports [153] and produced around 1.45 million passenger vehicles and 203,000 commercial vehicles. [152] The UK is a major centre for engine manufacturing, and in 2008 around 3.16 million engines were produced in the country. [152]
The automotive industry employs around 800,000 people, with a turnover in 2015 of £70 billion, generating £34.6 billion of exports (11.8 per cent of the UK's total export goods). In 2015, the UK produced around 1.6 million passenger vehicles and 94,500 commercial vehicles.
As of 2022, the UK aerospace industry was the second largest in the world behind that of the United States, [15] with a turnover of over $34.5 billion. Major players in the UK defence and aerospace market include BAE Systems, Airbus, Rolls-Royce, Babcock International, GKN Aerospace, Leonardo, Safran, General Electric, MBDA and Thales.
But when business returned as people started traveling more in 2021 and 2022, the company had a new problem on its hands: the highest turnover rate in its history.
For example, the US 2001 - 2006 annual turnover rate for all industry sectors averaged 39.6% prior to seasonal adjustments, [29] while the leisure and hospitality sector experienced an average annual rate of 74.6% during this same period. [30]
The UK is a major centre for engine manufacturing, and in 2018 around 2.71 million engines were produced in the country. [1] The UK has a significant presence in auto racing and the UK motorsport industry currently employs around 38,500 people, comprises around 4,500 companies and has an annual turnover of around £6 billion. [3]
The aerospace industry of the United Kingdom is the second-largest national aerospace industry in the world (after the United States) and the largest in Europe by turnover, [1] [2] [3] [disputed – discuss] with a global market share of 17% in 2019. In 2020, the industry employed 116,000 people. [4] [5]
London generates approximately 22 per cent of the UK's GDP. [16] [17] 841,000 private sector businesses were based in London at the start of 2013, more than in any other region or country in the UK. 18 per cent are in the professional, scientific and technical activities sector while 15 per cent are in the construction sector. Many of these are ...