“Our aerospace industry has thrived off the back of its competitive advantage in the production of high-value added technology-intensive products, and we forecast that this will continue. Since 2002, the UK industry has more than doubled overseas sales from £13.2 billion to £28.3 billion, an increase of 114pc,” he added.
However, Britain’s essential role in the global aerospace industry could come under pressure as a consequence of the Brexit process.
For example, Airbus builds the wings for its jets in Britain, with the company’s huge plant in Broughton, North Wales, and exports them to factories around the world.