Heathrow Airport's third runway: Construction industry reacts to landmark MP vote
A project that has bee...
UK MPs overwhelmingly backed a proposal to expand London’s Heathrow Airport, passing the motion with a majority of 296 votes.
A project that has been subject to controversy and shelved numerous times over the past two decades, the building of a third runway will unlock 100,000 jobs and generate a big economic injection, according to its proponents.
The Confederation of British Industry hailed the vote as “a truly historic decision that will open the doors to a new era in the UK's global trading relationships”.
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It was also welcomed by major players in the construction industry, including Turner & Townsend, a global consultancy firm specialising in the sector.
David Whysall, Managing Director of UK infrastructure at Turner & Townsend, commented: “The expansion will be the UK’s largest privately funded construction project, generating thousands of jobs and business opportunities nationwide, boosting passenger and cargo capacity, and forging new links around the world.
Whysall also says that the project has the potential to shake up and benefit the UK construction industry more widely.
He added: “It’s an opportunity to challenge the way we have delivered infrastructure in the past and forge a new sustainable industry model – one which provides a legacy of new skills in digital, manufacturing and off-site assembly, with expertise formed throughout the construction supply chain, and shows that the UK is a world leader in setting up and delivering major projects.
“It will act as a beacon for attracting and retaining talent in the sector at a time when we face an acute skills crisis.”
Other options for expanding London’s airport capacity which have been rejected include a second runway at Gatwick Airport and a new airport on the Thames Estuary, a project dubbed Boris Island after being championed by the current Foreign Secretary Boris Johnson.
Cordless power tools market to reach US$26.2bn by 2026
The revenue of the cordless power tools market will grow by a compounded annual growth rate (CAGR) of 10.54% reaching US$26.2bn by 2026, a new Aritzon report predicts. The report provides an in-depth analysis and insights into the impact of COVID-19 on the market, revealing that drills and fastening tools accounted for the highest revenue.
According to the research, this segment of the market generated an additional US$2.37bn expected to increase by a CAGR of 8.49% during the 2020-2026 forecast period. Other findings included APAC having the fastest growth in the cordless power tools market which is expected to grow at a CAGR of 12.34%.
The report divides the market into sections such as tool type, end-user, dynamics, and geography, as well as by country and major vendors, including Stanley, Black & Decker, Bosch, and Makita.
Under market segmentation, the report revealed that the industrial end-user segment, comprising both the automotive and construction industries, generated the most revenue in the cordless power tools market in 2020.
One of the biggest factors increasing the demand for cordless power tools was DIY, including home improvements and wood-crafting. In addition, the residential segment is expected to grow due to more homes and buildings being constructed.
In Geographical terms, America had the largest market for cordless power tools in 2020, a position it is expected to hold during the forecast period. The US is home to several large industries including aerospace, electronics, and packing, in addition to the construction and automotive sectors.
Speedy: The construction equipment and services provider
Speedy, a construction services and equipment company, has invested £10mn (USD) into new products to allow it to uphold its promise of a four-hour guaranteed delivery service. The company launched the service in response to rising customer demand for quicker site deliveries.
The company says the investment will add 25,000 new assets to its most popular products and boost the availability of equipment from its UK and Ireland-based service centres. In the past year, Speedy has made 13,000 four-hour deliveries, increasing by 30% year on year.
Dan Evans, Chief Operating Officer at Speedy, said: “The growing demand for our four-hour delivery promise reflects the value it’s providing our customers, helping them to be more productive and complete projects on time by giving them quick access to essential site equipment.
“This latest investment boosts the availability of our top products throughout the UK. It provides our customers with the reassurance that we can support them to get the job done on time so that they can avoid costly delays to the projects they are working on”, he added.
The four-hour delivery service means that the company guarantees w=equipment to be delivered to a customer anywhere in the UK within four hours of being ordered. If an item is delivered outside of this window, customers receive free hire for a week, Speedy says.