Britain ‘still attractive for aerospace investment’ despite Brexit uncertainty

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TOPSHOT - An EasyJet aircraft prepares to land at London Gatwick Airport, south of London, on December 21, 2018, as flights resumed following the closing of the airfield due to a drones flying. - British police were Friday considering shooting down the drone that has grounded flights and caused chaos at London's Gatwick Airport, with passengers set to face a third day of disruption. Police said it was a "tactical option" after more than 50 sightings of the device near the airfield since Wednesday night when the runway was first closed. (Photo by Ben STANSALL / AFP) (Photo credit should read BEN STANSALL/AFP/Getty Images)

Britain is the fourth-most attractive attractive country to invest in for the aerospace and defence industries, according to research.

Despite warnings from major industry players that Brexit uncertainty will hamper investment in the sector, the UK has been named the best European country to invest in, ahead of Germany, by PwC.

Countries were ranked on a range of factors including cost, economy, infrastructure and tax policy. Ahead were the US, Canada and Singapore, while Germany ran in seventh.

The analysis also took into account geopolitical risks such as Brexit, but the UK was still judged a major player down to its “robust aerospace and defence industry”.

PwC head of UK aerospace and defence Roland Sonnenberg said: “We’ve seen a lot of speculation that uncertainty over Brexit terms and the potential disruption to global supply chains may impact the ability to attract global investment and meet production timetables.

“But this analysis shows that the UK continues to be a strong competitor when it comes to investment and expansion opportunities.

“The UK has a real depth of talent and capability in the sector, which remains well positioned to support the economy as we continue to make a strong and vital contribution across global markets.”

Main image: Getty