According to the methodology used by the university in its new "Enhanced manufacturing growth index", manufacturing's contribution to the UK economy is worth £208 billion, a 3.3% increase compared to the figures usually quoted by the Office for National Statistics (ONS).
Researchers at Cranfield argued that the Gross Value Added (GVA) of manufacturing makes up around 13.5% of the UK's economy, given the industry's capacity to generate economic growth in areas such as design and support as well as production, compared to the usual 10.2% GVA attributed to the sector. The researchers believed that their new model reflected 21st Century manufacturing practices compared to the traditional model.
Professor Rajkumar Roy, Cranfield's director of manufacturing, said: "The UK is a manufacturing nation. While current uncertainties are clearly having an impact on the sector, the value of manufacturing to the UK economy has for too long been underestimated. We should not just be safeguarding UK manufacturing; we should be shouting its successes from the rooftops.
"UK manufacturing represents half of UK exports and our research shows that our biggest growth areas are currently ships, boats and aircraft. We want everybody to adopt the enhanced manufacturing growth index as a true reflection of the value of UK manufacturing."
