With 7 out of the 10 Formula 1 (F1) teams choosing to base themselves in the UK, British technology and expertise competed against each other last Sunday at Silverstone, as the sport celebrated its 70th anniversary on the very circuit the Championship started in 1950.
More Grand Prix cars are made in Britain than any other country and throughout the last 7 decades, the UK has won more titles than any other nation – a testament to the country’s automotive research and development (R&D) industry.
Motorsport Valley® in the UK is the undisputed leader in global motorsport; home to around 4,300 businesses, employing more than 40,000 people with an annual sales turnover of £10 billion. According to the Motorsport Industry Association (MIA) 70% of UK motorsport businesses export their products and services abroad and the US is the UK’s largest export market.
In ongoing negotiations with the US, the Department for International Trade (DIT) aims to strike a comprehensive free trade deal that will make transatlantic trade much easier for UK exporters.
A Formula 1 spokesperson, said:
From aerodynamics to safety developments, F1 has always been at the forefront of technological innovation with advancements that have directly benefitted the global automotive industry.
This is only possible because of our people. Our sport employs thousands in the UK, with 25,000 skilled engineers linked to F1, as well as supply chains across continents.
Increasingly, the technology used by UK motorsport companies is filtering down into the wider automotive sector, as well as other industries such as health and infrastructure. At the start of the Coronavirus pandemic, British F1 teams played an intrinsic role in the UK’s fight against the virus, uniting to form ‘project pitlane’, a Covid-19 respiratory device response.
The Department for International Trade supports the UK motorsports sector through its work with MIA, a DIT Trade Access Programme (TAP) delivery partner, which runs annual trade missions to the US and Europe.