The Northern Powerhouse will be the focus of future UK-Irish collaboration in the aerospace sector says Sean Long, Senior Market Adviser, Engineering, Electronics at Enterprise Ireland
The UK is Ireland’s number one export market, representing a value of €7.5 billion exports and 35% of Ireland’s total exports[1]. These two isles hold an ever-strong relationship and even in the wake of the decision to leave the European Union, are looking to maintain their ties as well as exploring new strategies for future growth; particularly in the aerospace sector.
Ireland’s aerospace and aviation industry is accelerating more than ever and is worth over €4.1bn to the Irish economy.[2] To put Ireland’s success into context, Irish lessors manage €80 billion in assets worldwide and today, there are more than 250 companies actively involved in the aerospace, aviation and space sectors, providing employment for approximately 42,000 full-time workers.[3]
The evolution of the aviation and aerospace sector has helped raise Ireland’s profile on a global scale, putting it even firmly on the map. This is due to investment in skillset, research and development, sales and exports; increasing their competitiveness cross-sector.
The UK’s Northern Powerhouse is delivering a substantial programme of investment and regeneration to the north of England and is an example of where strong business and partnership opportunities exist for UK/Irish collaboration. As a result, Enterprise Ireland, an Irish Government Agency and the third largest seed investor in Europe has launched its Northern Powerhouse Report; reinforcing the strong business opportunities for Irish companies in the north of England; an area which is growing faster than any other part of the UK.
Key Northern Powerhouse Report Findings Include:
- If the North of England was a country, it would be the 10th largest economy in Europe
- As industrial digitalisation transforms, IOT, AR, 3D Printing and robotics will become more important
- Current key players in the region include Airbus, Rolls Royce and Magellan Aerospace
- It exports £50billion worth of goods and had a GVA of £317billion in 2015, representing 19% of overall UK GVA[4]
- The North remains a key production area for high end engineering, manufacturing, automotive, off highway and Rail OEM supply chain activity across the North East and West as well as strong aerospace clusters
Ireland's main focus is on driving competitiveness through programmes for innovation and continuous improvement at company level, as well as investing in skills and research on a national scale. With preparation and a strong understanding of customer and market needs, there is a clear opportunity for us to work in tandem more than ever before. The aerospace and aviation industry is already experiencing increased innovation and rapid growth, and as the Northern Powerhouse deepens its manufacturing capabilities, we can expect growth to increase further. With Ireland’s globalised economy, strong infrastructure, and a young, innovative workforce in close proximity, it’s a perfect fit for the UK aerospace sector looking to drive competitive edge at this time.
[1] February 2018
[2] Enterprise Ireland Irish Aviation and Aerospace data, 2017
[3] Ibid, 2017
[4] Northern Powerhouse Report: Business Opportunities for Irish Companies, p3