REV’s definition of motorsport

Motorsport can be defined as companies who are directly involved with motor racing through construction / preparation and supply of products and companies which provide infrastructure and services supporting motorsport.

Motorsport – the national picture

Unlike with the engineering sector, it is much more difficult to find accurate information on the local picture in motorsport, though from research it is estimated that the motorsport industry in Breckland had a turnover of around £23.8m in 2003.

Approximately 4,000 companies are involved in the UK motorsport manufacturing industry and its wide-ranging support activities. According to the Motorsport Industry Association (2005) the total value of UK Motorsport is approaching £5 billion, of which nearly 60% is exported; moreover, the industry employs some 40,000 people including more than 25,000 highly-skilled engineers and is a market sector that has exhibited phenomenal growth. According to leading expert Professor Mark Jenkins, Cranfield University, the Motorsport industry has grown by over 500% in 10 years.

Companies not only build competition vehicles, but also supply components such as brakes, engines, transmission systems, telemetry and associated goods - clothing, accessories etc. In addition, there is considerable activity associated with Motorsport marketing, particularly sponsorship. Motorsport spends approximately 20% of its turnover in research and development, a level far in excess of the norm in UK industry, where the national average is 2%. The pressure for innovation and the required performance standards are much higher than any other industry, including pharmaceuticals and aerospace.

The British motorsport industry and its leading position in the global arena is little known. For an industry based mostly on small businesses clustered within ‘Motorsport Valley’ it has achieved startling international success. Three-quarters of the world’s single seat racing car production is British-built, and 80% of Formula 1 World Championship races in the past decade have been won by British-built cars.
“Motorsport Valley” is an area based largely in southern and central England where most specialist motorsport firms have their research, design engineering and production facilities. It acts as a global centre for the production of performance cars, chassis, engines, brakes, suspension and transmission systems, telemetry and a wide range of other world-class products together with a complete range of services and facilities. The Breckland district of Norfolk is well placed on the eastern tip of Motorsport Valley.
The motorsport sector comprises of the following sub-sectors:

• Design
• Software
• Engineering
• Logistics
• Costing and Accountancy
• Racing
• Marketing and Merchandising
• Component manufacture and distribution such as engines, electronics, transmission, brakes/suspension, safety systems, and tyres
• Fuel and Lubrications
• Events
• Racing Schools
• Safety and Regulation