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Sector Profile: Aerospace

 

Output (GVA)

A key reason for the importance of Advanced Engineering & Manufacturing activities in Somerset (see separate AEM sector profile), especially in South Somerset, is the significant presence of aerospace activities (a sub-sector of AEM) and their value to the local supply chain. The manufacture, repair and maintenance of aircraft and related machinery alone contributes roughly £314m (GVA) to total output in Somerset, with £310m of this coming from South Somerset alone. This accounts for 8.6% of total economic output in South Somerset, more than 14 times the national average.

Employment (FTE)

The manufacture, repair and maintenance of aircraft and related machinery contributed approximately 4,280 full-time equivalent (FTE) jobs, or 1.9% of all employment in Somerset in 2016. This compares to a national average of 0.4%. Employment in this sector is almost negligible in all other district besides South Somerset, where in 2016 there were estimated to have been some 4,240 jobs in aerospace, 6.2% of all jobs in the district.

Productivity (GVA/FTE)

Measured as GVA per FTE job, productivity for activities pertaining to the manufacture, repair and maintenance of aircraft and related machinery was roughly £73,000 in Somerset in 2016, some 47% higher than average productivity for the county.

Source: Economic Model for Somerset and the Heart of the South West (HotSW) Local Enterprise Partnership, 2018

£314m
Economic Output (GVA)
4,240
Jobs (FTE)
£73,000
Productivity (GVA/FTE)