In a detailed analysis carried out on the sectors represented by ADS Group, an economic assessment by KPMG has shown that the UK’s membership of the EU delivers key benefits for the UK’s Aerospace, Defence, Security and Space sectors.
The KPMG economic analysis, supported by in-depth interviews with industry, analyses the benefits to these sectors’ global competitiveness in terms of access to EU markets and supply chains; to skilled workers, and to EU funding for investment in the UK.
ADS Group represents some of the UK’s most economically important sectors. All four have outpaced national productivity levels by a considerable margin; collectively they turnover £56 billion annually, provide over 310,000 high-value, high-skill jobs and support almost 800,000 jobs across the UK.
Paul Everitt, Chief Executive of ADS Group stated: “This ADS/KPMG economic assessment demonstrates the significant benefits the aerospace, defence, space and security industries get from UK membership of the European Union. Our industries are clear that the UK’s continued membership of the EU is good for companies, their employees and the future prosperity of the country.
“Our sectors value the UK Government’s ability to influence the rules of the EU single market, its role in helping to shape important international regulation and market access, as well as the investment in European science, technology and innovation.
“This assessment has clearly shown that our sectors want to see change within the European Union with more focus on promoting growth, investment in skills, innovation and competitiveness. They also want to see UK Government raising its game to maximise UK influence and companies benefit from the support and funding that is available.”