|Vehicles & Components (not Aerospace) Overview|
The UK's road vehicles, marine construction and aerospace industries make major contributions to the national economy but in many areas are vulnerable to global factors. Apart from labour costs that are only overcome by investing in higher productivity and higher added value technologies, these sectors are exposed to recessionary pressures in a number of international markets and, in the context of UK PLC, in the motor industry in particular, foreign ownership of key manufacturing assets means strategic decisions are made outside the UK. Whilst the automotive and aerospace sectors are in comparatively robust health, there is an ever-present danger of being unable to attract or educate new blood on the one hand and, on the other, contraction to a point where there is no longer a viable skills base.
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