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How the Future of Manufacturing is Going from Strength to Strength
Globally, manufacturing contributes around £6.7 trillion to the economy. The UK is one of the worlds largest industrial nations, contributing to a massive portion of that value. The country employs more than 2.7 million people in the sector and accounts for 45% of the worlds total exports. Even in the wake of Brexit, Britain is holding onto its position as a manufacturing giant, continually seeking new avenues for growth. According to the Annual Manufacturing Report for 2019, 77% of respondents said that theres a strong drive for success in the UK. The people in the study believe that no matter what happens, Britain will continue to strive for success in the manufacturing and industrial sectors.
Driving Manufacturing Growth
While many UK manufacturers are concerned about what regulatory changes like Brexit will mean to their business, 81% have said that theyre ready to invest in new technologies to boost productivity. Additionally, manufacturing leaders are keen to find skilled and ambitious engineers in the job market.
With 66% of respondents saying that British people dont understand how important manufacturing is to the economy, and 57% suggesting that the education system needs a complete overhaul, a skills gap is growing.
Businesses across the UK need initiatives like Made Here Now to introduce young and ambitious students to the possibilities of a career in manufacturing. Made Here Now provides students with the insights they need into the world of manufacturing, showing the exciting and evolving nature of the industry to attract new talent into the field. In the last few months, the programme has gone from strength to strength, attracting new investors and success stories.
Growing Opportunities in Manufacturing Education
According to the Annual Manufacturing Report, theres a vast amount of potential in the sector for companies capable of embracing the latest technology and tools. For instance, by 2025, its estimated that the Internet of Things will be worth $6.2 trillion. Additionally, 74% of respondents say that theyll need to invest in new technology in the years ahead.
However, embracing new technology also means finding new talent to support and manage those innovations. Made Here Now introduces students to the forward-thinking and unique opportunities that they might have in the manufacturing space, particularly with the rise of new technology.
For instance, MHN recently reported on the Bessemer Society, an organisation supporting the growth of companies in "hard tech" areas.
These spaces cover complex industrial areas like intelligent and green manufacturing, often with the support of the latest technology. The Bessemer society has helped to give life to a new company named CEL UK, which makes automation equipment for the manufacturing space. With their concept of "Q5D Technology", Bessemer is introducing students, graduates, and aspiring engineers to the possibilities of things like 3D printing and robotics in an industry previously deemed "old fashioned." Its stories like these that enlighten students around the UK to the real nature of manufacturing as it is today. The sector isnt just about working with big machines on a production floor anymore. There are countless opportunities for students to explore the latest technology in the world while contributing to Britains growing economy.
Investment Continues to Grow
As avid supporters of the Made Here Now team, Croft Filters is thrilled to see the companys continued growth and success.
Recently, the organisation initiated their phase four round of funding, which inspired numerous new sponsors to get involved with the growth of manufacturing throughout the UK. There are now 16 sponsors contributing to Made Here Now and its initiatives. This includes 10 manufacturers, with big names like James Cropper, Renishaw, JCB, Tata Steel, William Cook, and James Walker.
Financial services groups, government and research organisations, technology consultancies, charities, and universities are also getting involved, highlighting the growing importance of delivering new opportunities to people in the manufacturing environment.
The findings of the Annual Manufacturing Report, combined with the ongoing success of Made Here Now, show that even in difficult times, the space remains strong. The performance of the manufacturing space in Britain is still on an upward trend - particularly thanks to the increased digitisation of the sector and the incredible export opportunities. However, to continue taking advantage of this growth, companies need to be willing to embrace not just the latest technology, but the newest talent in the market too. Thats why groups like Made Here Now exist, driving students and graduates towards one of the biggest sectors in the UK landscape. Were proud to be part of Made Here Nows ongoing development and the constant growth of the manufacturing sector.