Manufacturing, innovation and Technology
Innovative and world-leading technologies are developed each day in the Solent region. The region is home to several centres of research excellence providing an unrivalled competitive edge to the companies affiliated with them. There are local, regional and national schemes that will help the growth of Advanced Manufacturing and Engineering.
The Engineers Employers Federation
Marine and Maritime
With a turnover of £19 billion pa, the UK has the largest marine sector in Europe. The Solent region generates over 10% of the UK marine sector’s GDP. The marine and maritime sector accounts for 20.5 per cent of the Solent’s economic output and provides 60,000 jobs locally, supporting over 3,000 businesses. By 2025 the sectors are expected to grow by five per cent.
British Marine Federation
Marine South East
Aerospace and Defence
The UK has the second largest aerospace industry in the world after the US, with over 3,000 companies employing about 230,000 people. It’s expected to grow at a rate of 6.8% over the next few years meaning opportunities for overseas investment. The Solent region has over 20% of the UK market share of this high-growth sector with a concentration of employment that is double the national average.
Farnborough Aerospace Consortium
South Coast Centre of Excellence in Satellite Applications
Satellite applications catapult
Hampshire is the most visited county in the South East. £2.50 billion is estimated to have been spent by day and staying visitors in Hampshire in 2012. The total value to the Hampshire economy, when including induced expenditure, was £3.08 billion in 2012. In 2012 63,600 individuals were employed in tourism in Hampshire, representing 8.9% of the county’s total employment. 5.2% of the Gross Value Added (GVA) to the Hampshire economy (£37.9 billion, in 2011) could be attributed to tourism (£2.0 billion, in 2011).