24 November 2020
The publication of an economic impact report by the independent analysis group Oxford Economics highlights the important role that Leonardo’s British-generated intellectual property (IP) will play in the nation’s economic recovery.
Leonardo employs 7,500 people across the UK including more than 2,000 in Scotland. The report shows that Leonardo employees are 80% more productive than the UK average, largely as a result of the IP generated by the company’s highly-skilled engineers in the UK, which can then be traded globally.
The company produces the UK’s AW159 Wildcat and AW101 Merlin helicopters and is at the heart of some of the country’s most advanced defence electronics developments such as the world-beating new ECRS Mk2 radar for RAF Typhoon aircraft. Every £1 invested in Leonardo puts £2.40 back into the local UK economy.
UK Chair & MD Norman Bone: “Creating IP in this country keeps people employed in high-value jobs by generating exports, which is incredibly important as we kick-start the country’s economy.”