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Sharing in Growth helps UK aerospace secure contracts worth £2.5bn
Sharing in Growth, the government-backed competitiveness improvement programme, has helped UK aerospace supply companies secure a total of £2.5 billion in contracts – equivalent to some 4,500 jobs.
Established in August 2013, the programme helps aerospace supply chain companies to improve their productivity and competitiveness so they are better placed to win a share of continued growth in the global aerospace market. Each company participates in an intense training and business transformation programme which enables them to double their sales turnover in around four years.
Speaking at the Aerospace Growth Partnership’s FIA18 Conference, Sharing in Growth CEO Andy Page said: “With the commercial aircraft order book at a record high, the UK has a huge opportunity to increase its share of the global aerospace market. Increased productivity, skills and capability are essential for ambitious suppliers to win the worldwide competition on quality, cost and delivery.
“Sharing in Growth has the scale and intensity to ensure aerospace companies can accelerate their growth, typically by addressing a 20% cost gap. Having helped programme participants to secure £2.5 billion in contracts totalling over 22,000-man years of high value work, Sharing in Growth is well on target to safeguard 10,000 UK jobs by 2022 and to return £60 in contracts for every £1 of public investment.”
The SiG programme is endorsed by Airbus, BAE Systems, Boeing, Bombardier, GE, GKN, Leonardo, Lockheed Martin, MBDA, Rolls-Royce, Safran and Thales, and is supported by the Regional Growth Fund and more than £150 million in private investment.
Andy Page launched the AGP’s UK Supply Chain Competitiveness Charter progress report at Farnborough. The Charter is a statement of intent by the industry to work together to meet the market need. It is supported by powerful interventions such as the ATI and Sharing in Growth, which, with long term commitment, can protect and grow the proud heritage of UK Aerospace.
It now has over 100 signatories, among them some 30 Sharing in Growth companies. The most recent signatory was Oxley whose CEO Martin Blakstad said: ”Oxley is pleased to sign the Charter. As an SME in a global market, it is essential we enhance our skills and productivity to meet customer expectations. We are planning to double turnover in five years and treble in ten years, and are delighted to be working with Sharing in Growth’s business transformation experts to achieve that ambition.”
Many Sharing in Growth beneficiaries are exhibiting at FIA18 including Sheffield-based CW Fletcher. Steve Kirk, managing director said: “The degree of change we have undergone in four years with Sharing in Growth is unprecedented in our 126 year history and has played a big part in transforming our company into a globally competitive organisation, securing 200 employees.”
Two Sharing in Growth participant companies were visited by Prime Minister Theresa May during her show opening tour on Monday. Promising to start working with industry on a potential Aerospace Sector Deal to tackle barriers to growth, increase productivity and competitiveness, she highlighted the achievements of Sharing in Growth beneficiaries. She said: “The UK already has a leading edge. We are home to some of the biggest names in the industry – and our small and medium sized companies demonstrate phenomenal skill, energy and innovation.
“Many of those companies are here at Farnborough: Poeton, who apply ceramic and metallic coatings to aerospace components to protect them from melting, corroding or wearing.
Produmax, whose critical parts can be found in aeroplanes such as Boeing’s Dreamliner – where they play an essential role moving wing flaps. And Aeromet, whose highly complex alloy castings are used in the structural components and casings in aircraft.”