The forecasted number of total internal R&D personnel in the UK’s manufacture of basic iron and steel and casting of iron and steel industry shows a consistent year-on-year growth from 2024 to 2028. Starting at 916.18 FTE in 2024, this number is expected to rise to 988.38 FTE by 2028. This corresponds to a compound annual growth rate (CAGR) of around 1.9% annually over the five-year period. The industry has been expanding since 2023, reflecting a stable increase in research and development personnel.
Future trends worth monitoring include technological advancements in steel manufacturing processes, environmental regulation impacts, and potential shifts in global steel demand. Additionally, tracking government policy changes supporting innovation and R&D within the sector could significantly influence these forecasts.