Figures Indicate Slow Global Recovery
The global aerospace industry like every area of manufacturing has endured a significantly difficult period over the past few years and figures released following the Farnborough International Airshow confirm that recovery is being gathered at a slow rate.
Overall figures indicate that sales at the show concluded at £31 billion, very much down on the record performance of £56 billion back in 2006. Stealing the show on the order books once again were Boeing and Airbus with combined orders reportedly in excess of £17 billion, with Airbus taking credit for best single order with sixty A320’s weighing in at £3 billion.
It has also emerged that economic difficulties in manufacturing and in the aerospace industry has seen a large increase in the use of commercial aviation markets in a bid to combat the defence cuts continuing to be made throughout Europe. The effect has been significant for the developing markets in India, Brazil, China and the Middle East.
Whilst the overall global picture continues to look tough the UK aerospace market has shown more promise of recovery with figures indicating a five percent increase in revenues, an increase reportedly being fed by the innovation of the UK’s small to medium supply chain.
Published by G&O Springs - Producing springs for the aerospace industry
August 23, 2010
