Physics is central to the economy of the UK. Whether through the application of novel research and technologies, or through the skills and abilities of physics-trained workers, physics drives businesses and innovation.
Professor Sir Peter Knight President, Institute of Physics
According to a new report by the Institute of Physics, about 4% of of employees in the UK work in companies that could not exist without a knowledge of physics.
Image by Bill Bertram
Of course, the definition of a “physics based company” is wide. Supermarket checkouts would not work without laser physics, for example. However, the study only takes into account the companies that would be unable to exist without ability to respond and adapt to latest advances in research.
A good example here would be Oxford Instruments, whose annual turnover of £337 million is almost entirely “physics based”.
The full report The Importance of Physics to the UK Economy can be found here (opens a PDF).
One million UK jobs depend on physics, IOP News