The UK aerospace industry is entering a recovery period, with the worst of the lay-offs over, according to the latest figures from the Society of British Aerospace Companies (SBAC).
Employment in the UK aerospace industry increased by more than 4% to 121,979 between 2002 and 2003, according to the figures, part of the SBAC's latest Aerospace Industry Survey.
"We hope we have now reached the corner, if not turned it," says SBAC analyst Professor Keith Hayward.
The survey also revealed that the UK's main sector of activity is aircraft and systems, with 45% of people employed in this area - 35% work on equipment, while 20% work on engines.
Within that, 58% of employees are engaged in aerospace production, while 15% work in research and development - a 20% rise since 2002, demonstrating the UK's strong technology development activity.
"This is a very good sign," says Hayward, "that companies are more confident in the medium- to long-term."
The UK industry's prominence overseas is also reflected by the results, which show that the UK employs 30,000 people in the US market, generating revenues of more than £4billion ($7.2 billion).
It is also the leading aerospace employer in Europe, with around a third of all EU aerospace jobs located in the UK, France coming a close second.
Source: Flight International