The Aircraft and Shipbuilding Industries Act 1977 nationalised large parts of the UK aerospace and shipbuilding industries and established two corporations, British Aerospace and British Shipbuilders.

The bill was rejected by the House of Lords on three separate occasions. It was possible that the provisions of the Parliament Acts could have been employed to enact it, but the legislation was approved by the House of Lords following concessions by the government.

List of assets subsumed by British Aerospace

• British Aircraft Corporation
• Hawker Siddeley Aviation
• Hawker Siddeley Dynamics
• Scottish Aviation

List of assets subsumed by British Shipbuilders

• Ailsa Troon (acquired in 1978, merged with Ferguson to form Ferguson-Ailsa Ltd in 1981)
• Cammell Laird
• Ferguson Shipbuilders (merged with Ailsa Troon in 1981 to form Ferguson-Ailsa)
• Govan Shipbuilders
• Northwestern Ship Repairers and Shipbuilding
• Pallion
• Scott-Lithgow Ltd
• Swan Hunter Shipbuilders
• Vickers Shipbuilding and Engineering Ltd (VSEL)
• Vosper Thornycroft
• Yarrow Shipbuilders Ltd (YSL)
• Hawthorn Leslie
• John Readhead & Sons
• Wallsend Slipway & Engineering Company
• John Brown & Company

Aviation in the United Kingdom | Water transport in the United Kingdom | Acts of the Parliament of the United Kingdom | 1977 in law