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THE FUTURE
Page 33
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III We rarely enter ivory towers, but on this occasion we did. Dr Vasilis Zeroes, a lecturer in industrial economics at Nottingham University who specialises in aerospace research. 'The UK has a good position in this market; many components are made here. It has a key position in several fields, especially engines. There is a strong export market too. A helicopter, for example, will have many components, such as rotors. But each component is made up of sub-components."
This country also has an enviable knack of producing entire aeroplanes. The UK is one of the few countries that can build an entire aircraft. This is an Industry with high levels of learning Britain has the knowhow and a strong base of engineers and scientists in this sector," adds Zervos.
The complexity of aerospace manufacturing means that projects are set in motion years before the final products take to the skies. Zeroes speaks of "procuremmit"—everything coming together, piece by piece. Hauliers are vital to this process.
"Aerospace is cyclical," he adds. "Events such as September 11th and SARS can have negative effects, but defiance spending in Europe and the US is Increasing." Aerospace firms' turnovers are rising, reports Zervos, although profit margins are subject to fluctuation. Strong competition, which characterises this industry, means smaller profits.
However our research shows that British aerospace firms compete for—and frequently win—lucrative contracts. As David Croome, Croome Goldstar's MD says, this money does filter through to hauliers. Those who service this sector tend to be rewarded by above-average rates.