1 minute read - 26th July 2024
Deals announced at Farnborough Airshow worth £13bn to the UK
Deals announced across the first four days of the 2024 Farnborough International Airshow were worth a total of £81.5bn, according to ADS Group. The trade association for the UK’s aerospace, defence, security and space sectors highlights that the deals agreed are worth an estimated £13bn to the UK.
The 260 firm aircraft orders alone are worth £6.4bn for the UK, while 808 firm engine orders are worth at least another £1.2bn to the UK at current prices.
ADS recently released its Aerospace Sector Outlook, showcasing the sector’s value add of £10.9bn to the UK economy, an increase of 16% compared to 2013 figures. The figures highlight 104,000 direct jobs in the aerospace sector, with a median salary of £48.7k – 39% higher than UK average, with the vast majority (88%) located outside of London and the Southeast.
Deals announced across the first four days of the 2024 Farnborough International Airshow are worth an estimated £13bn to the UK, according to trade body ADS Group / Picture: Farnborough International
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Aimie Stone, chief economist at ADS, said: “With record industry attendance at the Farnborough International Airshow, the heightened attention towards the world’s aerospace and aviation ecosystem is largely behind this mammoth show of commitment to our sector. Adding to this, the firm commitment to 260 new aircraft highlights industry’s confidence, resilience and buoyancy.
“With demand for aircraft still outpacing the amount we are able to fulfil, it’s clear that the new government’s need to address the challenges that are currently holding back our sector’s ability to deliver its full potential and impact to our economy.”
