Make UK receives government backing for talent generation
In an announcement made by Make UK (the manufacturers’ organisation), has received government backing to help drive the next generation of talent in manufacturing by boosting the Kickstart scheme.
“Make UK is supporting some fantastic businesses to access our DWP Kickstart Scheme, helping hundreds of young people to get into the manufacturing sector. I encourage other employers from this innovative and exciting industry to get involved in Kickstart and join the national effort behind our Plan for Jobs which is creating fresh opportunities for young people as we push to build back better,” said Minister for Employment Mims Davies MP.
What is the Kickstart scheme?
In the last year, Make UK has helped hundreds of young people affected by the pandemic, and is a strong supporter of the Kickstart scheme to develop skills, and potential careers in UK manufacturing.
The Kickstart scheme provides funding to employers to create job placements for those between 16 and 24 that are on universal credit. The scheme also covers employer national insurance (NI) contributions and employer minimum automatic enrolment contributions.
So far the scheme has already created over 150,000 jobs, providing opportunities that will boost the career prospects of young people, providing skills and experience.
“There are significant opportunities available for young people in manufacturing to build a highly skilled and valuable career. This is an innovative scheme designed to help both young people and employers and I would urge companies to take advantage of the help that it provides to recruit young talent,” added Stephen Phipson, Chief Executive of Make UK.
Four Factory of the Future Market Trends to Keep an Eye on
Global Smart Manufacturing Market
Attributed to the rapid growth in the adoption of automated systems in industrial processes, the is predicted to grow from US$$175bn (2020) to US$303bn by 2026 with a compound annual growth rate (CAGR) of 6.4% between 2019 and 2026.
While COVID-19 has somewhat slowed down the market’s growth, it is expected that by the second to third quarter of 2023 there will be a ‘considerable’ rise in growth for the market.
Key players in the industry: Schneider Electric, General Electric, Siemens, Honeywell International Inc., Rockwell Automation Inc., FANUC Corporation, and Emerson Electric Co.
Industrial Automation Market
Making people’s lives easier, and their work more accurate and effective, the global demand for automated technologies such as robotics - especially in science and technology - is driving its increase in global market value.
Key players in the industry: ABB, Siemens, General Electric, Schneider, Endress+Hauser, Yokogawa, Honeywell, WIKA, Azbil, Fuji Electric, 3D Systems, and HP.
Smart Factory Market
Expected to grow from US$80.1bn (2021) to US$134.9bn by 2026, the - with a CAGR of 11% between 2021 and 2026 - is experiencing growth driven by fiscal policies adopted to keep manufacturing facilities afloat during COVID-19.
Other driving factors include resource optimisation, cost reduction in production operations, increased demand for industrial robotics, rising demand for technologies, and the growing significance of energy efficiency.
Key players in the industry: Emerson Electric Co., General Electric, Rockwell Automation, Inc., Schneider Electric SE, ABB Ltd., Siemens AG, Mitsubishi Electric Corp., Honeywell International Inc., Endress+Hauser AG, and Yokogawa Electric Corp.
Artificial Intelligence (AI) in Manufacturing Market
“It is undeniable that the manufacturing industry is at the forefront of artificial intelligence implementation,” says . “Manufacturers are using AI-powered analytics to increase performance, product quality, and employee protection, from substantial reductions in unplanned downtime to better crafted goods.”