The EEF manufacturers’ organisation has reported that UK bicycle and motorcycle manufacturing is the second fastest growing industry. The fastest growing segment is guns and weaponry…
The report says that these two sectors have ‘comfortably outperformed the rest of the UK economy over the past five years.’
“The characteristics of these successful businesses means they should find it easier to avoid the worst of any problems if the global economy slows down,” said Tom Lawton, head of manufacturing at BDO Stoy Hayward, a consultancy that assisted the EEF with the study.
The weapons growth is of course down to the need for military equipment. However, the two-wheeled sector has grown, on average, by 8.6 per cent per year.
An article on the Financial Times website highlights midlands bicycle manufacturer Pashley as one of the best performing businesses.