Motorsport Valley hits new peak – report shows growth in UK motorsport industry

A new report of the impact of Motorsport Valley has been published, showing increased growth over the past decade.

The Motorsport Industry Association review, conducted by Grant Thornton, highlights the global importance of Motorsport Valley – the area in the United Kingdom where seven of the 10 teams competing in the 2025 Formula 1 world championship are based.

The report showed that in 2023, UK motorsport and engineering companies had a sales turnover of £16billion, up £7billion from the previous report in 2012 – 89% of companies generate a portion of their revenue from exporting goods and services, with the USA the main importer.

Employment in the sector also grew, with 50,000 people now working across the industry as opposed to 41,000 previously, while over a third of UK motorsport businesses employ apprentices.

“Following a decade of outstanding growth and global success, the UK’s Motorsport Valley high-performance engineering cluster is clearly set for a bright future,” Motorsport Industry Association chief executive Chris Aylett said.

“Increased exports, consistent R&D investment, the recruitment and retention of world-class talent, new corporate investors, and substantial exposure to an international audience are positioning the UK as the undisputed global hub for motorsport innovation.

“This is not just sport – this is a substantial industry with enormous impact across numerous sectors, including aerospace, defence, marine, and medical.

“The motorsport industry has shown remarkable resilience and growth; it continues to be a world-leading example of a thriving business cluster and a jewel in the crown of UK advanced manufacturing.

“The enthusiasm of young people for the exciting engineering and technology challenges they enjoy in Formula 1 and in all forms of motorsport will, if harnessed correctly, be a real asset to the UK’s future.”

The research and development investment mentioned by Aylett has been at a constant level in recent years, with 14% of turnover spent on R&D by UK motorsport businesses – 94% of which will increase or maintain their level over the next three years.

As well as the seven F1 teams – Alpine, Aston Martin, Haas, McLaren, Mercedes, Red Bull and Williams – the Formula 1 World Championship and Formula One Management are also based in the UK, with Silverstone Circuits rounding out the ‘F1 business group’ as per the MIA report.

The 10 businesses within that group recorded over £3.8billion in combined turnover in 2023, while core motorsport businesses also showed increased revenue.