A strategy has been announced by leading members of the UK’s electronic systems industry outlining aims to grow the UK’s electronic systems industry by 55 per cent to £120 billion by 2020 and create an additional 150,000 highly-skilled jobs. This would place the sector among the top five UK industries.
Called the Electronics Systems: Challenges and Opportunities (ESCO) report, the document details how the industry can grow to contribute 7.1 per cent of GDP by 2020. It was created for the Department of Business, Innovation and Skills and makes several key recommendations, including measures to improve supply chains and strategic procurement, the skills pipeline and the formation of a think tank to identify future growth sectors.
The report also warns that failure to take immediate action on these recommendations will have implications for the competitiveness of every industrial sector and the UK economy.
Business and Energy Minister, Michael Fallon, said: “Electronic systems underpin many of the world’s economic activities, from education and healthcare to communications and entertainment. This is an accelerating trend and we will continue to see more and more products and services that rely on electronics. This strategy heralds a new working partnership between industry and Government towards long-term growth for this vitally important sector.”