05:52
Faizan
ADS, the trade organisation for the Aerospace, Defence, Security and Space business Industries have revealed that the total orders that UK manufacturers have on their books stands at over 12,000 aircraft and more than 21,000 engines. This is estimated to be a combined value of between £135bn and £155bn.
9 Years of Work for the Aerospace Sector
It has been estimated that these orders equal approximately 9 years worth of work for companies in the aerospace sector. Chief Executive of ADS Paul Everitt said: "As an important event for the global aerospace industry, we expected to see a peak in orders during the Farnborough airshow. However, the volume of firm orders placed throughout July was unprecedented; adding almost 650 aircraft and 1,100 engines an already robust order book."
The Aerospace Growth Partnership
According to the chief economist at ADS Jeegar Kakkad, these impressive figures are proof that the government's industrial strategy to champion aerospace has been a success. "Countries around the world are sitting up and taking notice of what is going on in the UK aerospace industry with the Aerospace Growth Partnership (AGP) and thinking, 'We can use the UK as a base to launch into'," he said. "Countries are too, with Germany wondering how we have taken market share from them and the US looking at how we set up the AGP."
UK Aerospace Industry Facts
Annual turnover of the UK aerospace industry - £27.8bn
UK share of global aerospace market - 17%
Number of people either directly employed or jobs supported by the aerospace industry - 229,100
Backlog of aircraft orders - 12,096
Backlog of engine orders - 21,094
Year's worth of work at current levels - 9
Increased Sales of Aircraft Engines
A spokesman for Airbus said: "The Farnborough airshow was excellent as Airbus won 345.4bn billion worth of business for a total of 496 aircraft. This is particularly good news for the UK where the wings for our aircraft are designed and manufactured.
9 Years of Work for the Aerospace Sector
It has been estimated that these orders equal approximately 9 years worth of work for companies in the aerospace sector. Chief Executive of ADS Paul Everitt said: "As an important event for the global aerospace industry, we expected to see a peak in orders during the Farnborough airshow. However, the volume of firm orders placed throughout July was unprecedented; adding almost 650 aircraft and 1,100 engines an already robust order book."
The Aerospace Growth Partnership
According to the chief economist at ADS Jeegar Kakkad, these impressive figures are proof that the government's industrial strategy to champion aerospace has been a success. "Countries around the world are sitting up and taking notice of what is going on in the UK aerospace industry with the Aerospace Growth Partnership (AGP) and thinking, 'We can use the UK as a base to launch into'," he said. "Countries are too, with Germany wondering how we have taken market share from them and the US looking at how we set up the AGP."
UK Aerospace Industry Facts
Annual turnover of the UK aerospace industry - £27.8bn
UK share of global aerospace market - 17%
Number of people either directly employed or jobs supported by the aerospace industry - 229,100
Backlog of aircraft orders - 12,096
Backlog of engine orders - 21,094
Year's worth of work at current levels - 9
Increased Sales of Aircraft Engines
A spokesman for Airbus said: "The Farnborough airshow was excellent as Airbus won 345.4bn billion worth of business for a total of 496 aircraft. This is particularly good news for the UK where the wings for our aircraft are designed and manufactured.
Posted in: business
