The report’s findings show that aerospace is recovering after a difficult period following the global recession. In the UK, the industry remained resilient and revenues rose by 5.4 per cent in 2009 to £22.2bn.
A strong performance at the 2010 Farnborough International Airshow saw $47bn (£30bn) worth of orders placed, which was down on the $88.7bn of orders placed in 2008, but up on the $46bn from 2006.
Boeing and Airbus represented the majority of this $47bn figure, taking 29 per cent and 26 per cent respectively.
Graham Chisnall, managing director, commercial aerospace and operations at A|D|S, said: ‘The strong orders at Farnborough and the optimism of the industry around the Airshow reflects the fact that, despite pressures on the defence budget, the industry is on the up, especially in the UK, buoyed by the recovery of the civil sector.
‘This position of British success has been achieved through a combination of factors such as a strong UK presence by major multinational companies and the agility of a sector that in large is delivered by innovative small- and medium-sized businesses in the global aerospace supply chain.’