The government has unveiled a new “strategic vision” for Britain’s rail supply chain, announcing it intends to double rail industry export volumes by 2025.
Speaking at a launch event business secretary Vince Cable said: “Britain’s valuable train supply chain is renowned for excellence in an array of disciplines from train design to signal solutions.
“We are committed to keeping the industry on track as a global leader which is why we are creating a unique partnership through the Rail Supply Group.”
Cable, transport secretary Patrick McLoughlin and Terence Watson, president of Alstom UK, co-chair the Rail Supply Group (RSG).
At the launch the RSG outlined how the UK rail network would meet the demands of tomorrow’s railways, create more jobs and boost UK exports. It said UK rail aimed to attract the best skills and talent to develop new technologies and become a “global leader” in high speed rail.
Over coming months the group said it would develop a rail supply chain industrial strategy – boosting employment and ensuring the UK can capture a share of the £150 billion global rail market.
More than £38 billion is being spent on the UK rail network between now and 2019.
The RSG said UK suppliers would face a wealth of exporting opportunities over the next six years, with the world’s rail supply market set for annual growth of 2.7 per cent.