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The aerospace and defence sector is one of the UK's greatest economic strengths and a significant contributor to wealth generation. The sector sustains high value jobs; high technology skills; a substantial research and development capability; and is one of the few major manufacturing sectors continuing to thrive in the UK. In international terms, the UK aerospace and defence sector is second only to the US in the share of world trade. The South East region is home to many of the global industry leaders and has over 1,000 companies employing 44,000 people and turning over £7 billion per annum. 75% of these companies are SMEs supplying parts and systems to the prime contractors on a global basis. Farnborough Aerospace Consortium provides a focus for over 700 aerospace and defence related companies located in the South East of England. The Consortium enables its members to become more competitive through improved technology, productivity and acquisition of skill and resource development. Farnborough Aerospace Consortium aims to:
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