Motorsport Valley a £16bn jewel in crown of UK, new report says
A new report has today described Motorsport Valley as a “jewel in the crown of UK manufacturing” as the area celebrates £16bn in turnover.
The area, which takes in the Midlands and Oxfordshire as well as the Silverstone hub, is the epicentre of much of the UK’s advanced manufacturing, and home to a number of Formula 1 teams.
A new report by Grant Thornton UK LLP in association with the Motorsport Industry Association (MIA) today revealed that the “cutting edge of high-performance engineering” has contributed to sales turnover of £16bn in 2023, up from £9bn in 2012, while also employing 50,000 people.
More than two thirds of Formula 1 teams are based in the Motorsport Valley catchment area, with 2025 entrants Cadillac set to operate from a Silverstone base too.
Motorsport Valley the epicentre
Red Bull are based in Milton Keynes, with sister team the Racing Bulls also using their campus, while Mercedes are in Brackley. Aston Martin, Alpine and Williams are in Oxfordshire or around Silverstone.
Ferrari are one of three teams outside of the area, with their home in Maranello, while Haas are headquartered in Kannapolis in the US. Sauber operates out of Switzerland.
McLaren is often included in the Motorsport Valley cohort but is headquartered in Woking.
The report states that 89 per cent of UK motorsport businesses generate export revenue, with the US the top importer, while 14 per cent of all turnover was spent on research and development, closely working with the UK’s industrial strategy.
MIA chief executive Chris Aylett said: “The motorsport industry has shown remarkable resilience and growth, it continues to be a world-leading example of a thriving business cluster and a jewel in the crown of UK advanced manufacturing.”
Owen Edwards of Grant Thornton said Motorsport Valley “is more than a geographic hub, it’s a symbol of British excellence”.