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Advanced materials

Manufacturing of materials using production processes that integrate advanced science and technology.

Advanced materials: use of SIC 肠辞诲别蝉听

Cannot be easily represented using the SIC system.

Aerospace manufacturing

Manufacture of aerospace transport equipment, and parts and accessories, including motors and engines for aircraft.

Aerospace manufacturing: use of SIC codes

Agritech

Precision technologies to improve agricultural input and output processes that exploit the application of:

• controlled environments
• robotics and automation
• advanced sensors
• AI and data systems

Agritech: use of SIC codes

While SIC 283 applies to this definition, this may not capture the full extent of robotics and automation that can be used in agricultural or horticultural settings.

Automotive manufacturing听

Manufacture of motor vehicles and parts and accessories for motor vehicles.

Automotive manufacturing: use of SIC 肠辞诲别蝉听

叠补迟迟别谤颈别蝉听

Battery manufacturing, including the battery manufacturing supply chain.听

Batteries: use of SIC 肠辞诲别蝉听

Plus the wider battery supply chain including activity inside and outside鈥�SIC鈥�272.

Space

Space manufacturing 鈥� recognising that space services are an inextricably linked part of the overall space sector and are components of advanced communications technologies and the wider Digital and Technologies and Defence sectors. ^{[footnote 2]}

Space: use of SIC codes

Spacecraft manufacturing within 鈥�SIC 303: Manufacture of air and spacecraft and related machinery鈥�, noting that the full extent of space manufacturing may not be fully captured in this SIC code.

Carbon capture and undersea storage (CCUS) and greenhouse gas removal (GGR)

• manufacture of goods in the CCUS supply chain
• manufacture of goods in the supply chain of other GGR technologies
• services related to the deployment of CCUS and other GGRs

Carbon capture and undersea storage and greenhouse gas removal: use of听SIC听肠辞诲别蝉

The CCUS and GGR frontier industry is spread across many parts of the SIC system and cannot be easily represented.

Heat pumps

• manufacture of heat pumps
• services related to the deployment of heat pumps

Heat pumps: use of听SIC听肠辞诲别蝉听

The heat pumps frontier industry is spread across many parts of the SIC system and cannot be easily represented.

Hydrogen

• manufacture of goods in the hydrogen supply chain
• services related to the deployment of hydrogen

Hydrogen: use of听SIC听肠辞诲别蝉听

The hydrogen frontier industry is spread across many parts of the SIC system and cannot be easily represented.

Nuclear fission

• manufacture of goods in the nuclear fission supply chain (including nuclear fuels)
• services related to the deployment, maintenance, and decommissioning of nuclear fission

This includes large scale nuclear and smaller nuclear small modular reactors (SMRs) and advanced modular reactors (AMRs).

Nuclear fission: use of听SIC听肠辞诲别蝉听

The nuclear fission frontier industry is spread across many parts of the SIC system and cannot be easily represented.

Nuclear fusion

The nuclear fusion frontier industry is defined as R&D activities relating to the commercialisation of fusion.

Nuclear fusion: use of听SIC听肠辞诲别蝉听

The nuclear fusion frontier industry is spread across many parts of the SIC system and cannot be easily represented.

Offshore and onshore wind

• manufacture of goods in the offshore and onshore wind supply chains
• services relating to the deployment and maintenance of offshore and onshore wind

Offshore and onshore wind: use of听SIC听肠辞诲别蝉听

The onshore and offshore wind frontier industry is spread across many parts of the SIC system and cannot be easily represented.

Advertising and marketing

Advertising and marketing, including wider public relations and communications activities.

Advertising and marketing: use of SIC codes

Film and TV

Film and TV activities, including production, post-production, and distribution of motion pictures; the projection of motion pictures; and TV broadcasting. Film and TV is inside 鈥榝ilm, TV, video, radio, and photography鈥� within the overall set of Creative Industries subsectors.

Film and TV: use of SIC codes

Music, performing, and visual arts

Music, performing, and visual arts activities. This includes sound recording and music publishing activities, as well as cultural education, and performing arts, artistic creation, and supporting activities.

Music, performing, and visual arts: use of SIC codes

Video games

Video games development and distribution. Video games is inside 鈥業T, software and computer services鈥� within the overall set of Creative Industries subsectors.听

Video games: use of SIC codes

While SICs 5821 and 62011 apply to this definition, these may not capture the full extent of software and computer services that are used in the video games ecosystem.

Combat air

Research, design, manufacturing, and services relating to combat air, as a Defence core capability.听

Combat air: use of听SIC听肠辞诲别蝉

The combat air frontier industry is spread across many parts of the SIC system and cannot be easily represented. Defence aerospace manufacturing is one activity inside 鈥�SIC听303: Manufacture of air and spacecraft and related machinery鈥�.

Complex weapons听

Research, design, manufacturing, and services relating to missiles and air defence systems, as a Defence core capability.

Complex weapons: use of听SIC听肠辞诲别蝉听

The complex weapons frontier industry is spread across many parts of the SIC system and cannot be easily represented.

Directed energy听weapons

Research, design, manufacturing, and services relating to directed energy weapons, as a Defence core capability.

Directed energy weapons: use of听SIC听肠辞诲别蝉听

The directed energy weapons frontier industry is spread across many parts of the SIC system and cannot be easily represented.

Drones and autonomous systems

Research, design, manufacturing, and services relating to drones and autonomous systems, as a Defence enabler.

Drones and autonomous systems: use of听SIC听肠辞诲别蝉

The drones and autonomous systems frontier industry is spread across many parts of the SIC system and cannot be easily represented.

Maritime capabilities

Research and design services relating to military shipbuilding, as a Defence core capability.

Maritime capabilities: use of听SIC听肠辞诲别蝉听

The maritime capabilities frontier industry is spread across many parts of the SIC system and cannot be easily represented.

Advanced connectivity technologies

Companies undertaking work in a range of cutting-edge technologies that enable the transmission of data in our increasingly digitised economy and society 鈥� connecting people and things.

These include technologies that make up advanced wireless systems, such as:

• 5G and the transition to 6G
• non-terrestrial networks
• advanced optical networks
• the integration of AI 鈥� and in time quantum 鈥� with communications

See the advanced connectivity technologies: market scoping analysis for further information.

Advanced connectivity technologies: use of SIC codes

The advanced connectivity technologies frontier industry cannot be easily reflected using the SIC system.

Artificial intelligence (AI)

Companies that provide AI services, products, and infrastructure.

AI is a transformative technology that performs tasks normally requiring human intelligence 鈥� such as understanding language, recognising patterns, and making decisions 鈥� while handling large volumes of work more quickly and efficiently.

It has many use cases such as:

• accelerating drug discovery in healthcare
• summarising complex legal documents
• improving customer service through virtual assistants

See the AI sector study for further information.

Artificial intelligence: use of SIC codes

The AI frontier industry cannot be easily reflected using the SIC system.

Cybersecurity

Companies that protect the technology we rely on for everyday life and work.

This includes:

• protecting critical infrastructure like power grids
• securing personal data in healthcare systems
• safeguarding financial institutions from fraud

It is crucial for protecting our economy and ensuring our security online.

See cyber security sectoral analysis for further information.

Cybersecurity: use of SIC codes

The cybersecurity frontier industry cannot be easily reflected using the SIC system.

Engineering biology

Companies that engage in the design, scaling, and commercialisation of biology-derived products and services that can transform sectors or produce existing products more sustainably. Their work draws on the tools of synthetic biology to create the next wave of innovation in the bioeconomy. It has applications across many sectors, ranging from medicine and manufacturing to materials and food.

Engineering biology: use of SIC codes

The engineering biology frontier industry cannot be easily reflected using the SIC system.

Quantum technologies

Companies and innovators that develop and sell products and services based on quantum phenomena, or whose principal applications are in quantum technologies. These technologies leverage quantum mechanics to deliver new capabilities with the potential to outperform classical technologies across the IS-8 sectors, such as Clean Energy Industries, Defence, Financial Services, and Life Sciences.

Quantum technologies: use of SIC codes

The quantum technologies frontier industry cannot be easily reflected using the SIC system.

Semiconductors

Companies engaging in semiconductor design, development, and manufacturing.

Semiconductors are materials used in electronic devices and digital technologies we use every day. They are crucial for our economy and are used to power smartphones and computers and enable renewable energy and advanced medical devices.

See the semiconductor sector study for further information.

Semiconductors: use of SIC codes

The semiconductor frontier industry cannot be easily reflected using the SIC system. Semiconductor manufacturing is one activity within 鈥�SIC 2611: Manufacture of electronic components鈥�.

Asset management and wholesale services

Asset management or investment management includes the management of investment portfolios and risk management, both on behalf of funds and as segregated mandates for individual clients. Clients may be based domestically or abroad. Asset management also captures fund management, which involves administrative services associated with running an investment fund.

Wholesale services encompass a broad range of financial services provided to large entities such as corporations, governments, and other financial institutions. Services include strategic financial advice and access to capital markets.

Asset management and wholesale services: use of SIC codes

In the SIC classification, wholesale services overlaps with capital markets and retail investment. The SIC codes for asset management are given here.

Capital markets and retail investment

Capital markets are financial markets in which financial instruments, such as stocks, bonds, derivatives (including commodity derivatives), and foreign exchange are traded. Capital markets encompass both the markets themselves and the ecosystem that sits around markets, for example:

• data providers
• research
• clearing 鈥� including over the counter (OTC) and exchange traded derivatives
• settlement

Capital markets support firms to invest and grow.

Retail investment refers to the ownership of financial assets by individual investors rather than by institutional investors, such as pension funds. Retail investment typically takes place through intermediaries 鈥� for example banks, asset managers, and other brokers 鈥� and can entail:

• the purchase of a financial asset 鈥� for example a stock or bond
• an investment which offers indirect exposure to an underlying asset 鈥� for example, a unit in a collective investment scheme

Capital markets and retail investment: use of SIC codes

In the SIC classification, wholesale services overlaps with capital markets and retail investment. The鈥�SIC鈥痗辞诲别s which combine capital markets, retail investment, and wholesale services are given here.

Fintech

Fintech (short for 鈥榝inancial technology鈥�) refers to the use of technology to improve and automate the delivery and use of financial services. Fintech companies are companies whose activity has a particular emphasis on delivery of financial services and products through new technology, aiming to improve and innovate the way these services are delivered to consumers and businesses.

Fintech: use of SIC codes

Fintech cannot be easily represented by the SIC system.

Insurance and reinsurance markets

Markets involved with the pricing and transfer of risk. Insurance and reinsurance markets includes:

• insurance exports
• the insurance of commercial and specialty activities and risks
• insurance intermediation for the above

It excludes domestic consumer markets.

Insurance and reinsurance markets usage of SIC 肠辞诲别蝉听

Excluding domestic consumer insurance from:

Sustainable finance

Sustainable finance refers to a range of financial activities which consider and support the transition to a sustainable global economy. This includes investment into new technologies or processes which have a lower environmental impact than existing technology. This is cross-cutting, and can apply to a range of activities, for example:

• mortgage products offered by retail banks
• investment funds which are labelled as sustainable
• investment advice on the basis of sustainability assessments

Sustainable finance: use of SIC 肠辞诲别蝉听

Sustainable finance cannot be easily represented by the SIC system.

BioPharma

Core biopharmaceutical and biopharmaceutical services and supply chains. Core biopharmaceutical businesses are involved in developing or producing 鈥� or both developing and producing 鈥� their own pharmaceutical products. Biopharmaceutical services and supply chain businesses offer goods and services to core biopharmaceutical businesses including, for example:

• contract research and manufacturing organisations
• suppliers of consumables and reagents for research and development facilities

BioPharma: use of SIC 肠辞诲别蝉听

BioPharma is defined using the Office for Life Sciences bioscience and health technology sector classification.

MedTech

Core medical technology and medical technology services and supply chains. Core medical technology businesses鈥� primary business involves developing and producing medical technology products, ranging from single-use consumables to complex hospital equipment, including digital health products. Medical technology services and supply chain businesses offer goods and services to core medical technology businesses, including, for example:

• contract research and manufacturing organisations
• suppliers of consumables and reagents for research and development facilities

MedTech: use of SIC 肠辞诲别蝉听

MedTech is defined using the Office for Life Sciences bioscience and health technology sector classification.

Accounting, audit, and tax consultancy听

Accounting, auditing and bookkeeping activities, including preparation or auditing of financial accounts and examination of accounts and certification of their accuracy. Tax consultancy activities, including preparation of tax returns and other tax advisory and representation activities.

Accounting, audit and tax consultancy: use of SIC codes

Legal services

Legal representation of one party鈥檚 interest against another party, general counselling and advising, preparation of legal documents, and other legal activities.听

Legal services: use of SIC codes

Management consultancy

The provision of advice and assistance to businesses and other organisations on management issues.听

Management consultancy: use of SIC codes

Chemicals

Chemicals manufacturing, as a foundational industry providing critical inputs and infrastructure in the Industrial Strategy听

Chemicals: use of SIC codes

Critical minerals

The mining, refining, midstream processing/early manufacturing, and recycling of critical minerals.

Critical minerals: use of SIC 肠辞诲别蝉听

Critical minerals cannot be easily represented by the SIC system. It includes activity present in mining, manufacturing, waste collection, and materials recovery.

Composites

Manufacture of glass fibres and carbon fibres.

Composites: use of SIC codes

While these activities are covered inside 鈥�SIC 2319: Manufacture and processing of other glass, including technical glassware鈥� and 鈥�SIC 2399: Manufacture of other non-metallic mineral products not elsewhere classified鈥�, these SIC codes include many other parts of materials manufacturing.

Construction

Construction is a foundational industry providing critical inputs and infrastructure in the Industrial Strategy.

Construction: use of SIC codes

Electricity networks

Transmission and distribution of electricity, as a foundational industry providing critical inputs and infrastructure in the Industrial Strategy.听

Electricity networks: use of SIC codes

Materials

Glass, ceramic, cement, and concrete materials manufacturing, as foundational industries providing critical inputs and infrastructure in the Industrial Strategy.

Materials: use of SIC codes

Ports

Ports, within the wider freight and logistics sector.

Ports: use of SIC codes

Steel

Basic iron and steel manufacturing, as a foundational industry providing critical inputs and infrastructure in the Industrial Strategy.

Steel: use of SIC codes