UK manufacturers should compete on the premium quality of their goods and the UK's strong manufacturing heritage, according to research by GE.
Strong R&D and a pro-UK perception abroad were also named the sector's star qualities in the GE High Tech Manufacturing.survey of 403 manufacturers.
Top hindrances included business red tape, the lack of a government manufacturing strategy and the skills gap.
GE UK CEO, Mark Elborne said: The UK needs to be more competitive in high tech manufacturing if we are to successfully rebalance the economy. The research shows high tech manufacturers are keen to see the government develop specific strategies for the sector and we are very supportive of the government's recent efforts to create a more cohesive plan of action."
Industry also needed to instil a more positive attitude to cement future growth, survey respondents said.
Over half claimed a negative outlook was holding the sector back.
Elborne added: "Going forward one challenge will be to make sure these initiatives have good visibility in the sector. I was also interested to see the plea for more optimism and ambition. Sometimes we Brits are too self effacing. We need to get out there and sell our fantastic high tech wares."
Aerospace was named the standout manufacturing sector by the survey. Respondents also praised pharmaceuticals, life sciences and construction products as aspirational fields.
Green technologies and renewable energy were tipped as the potential start sectors of the future.
The research was based on feedback from senior executives of high tech manufacturers.