UK: ‘Motorsport Valley’ firms attack $US16 billion market
Record numbers of UK companies are seeking to develop export sales to the US, the world's largest market for motorsport products and services, the Motorsport Industry Association (MIA) said.
Over 20 UK companies joined a recent MIA trade mission supported by UK Trade and Investment to the NASCAR and IRL communities, making it the association's largest ever such mission to the USA.
The party visited key buyers located in the heartland of NASCAR racing, Charlotte and Mooresville, North Carolina, and then went on to Indianapolis to meet with a number of leading IRL teams at the world's biggest motorsport race, the Indy 500.
Despite the enthusiasm for the latest trade mission, the MIA says many UK businesses still have plenty of scope to make their presence felt on the other side of the Atlantic.
MIA CEO Chris Aylett said: "The buying power of the teams and organisers we met is truly enormous - this latest mission included visits to the NASCAR Nextel All-Star Challenge and IRL's Indy 500, two events in one week which alone were attended by nearly 500,000 paying visitors.
"However, in commercial terms the UK is still barely scratching the surface. Ample business opportunities remain there for good products and services from Motorsport Valley companies. This is a dynamic, results-driven motorsport market which is ready and willing to work with UK suppliers, large and small," he added.
In response to growing interest in transatlantic export opportunities, the MIA has organised trade missions to the Specialty Equipment Manufacturers Association (SEMA) show in Las Vegas in November and the Performance Racing Industry show in December.