Airshow bucks economic trend with $72 billion dollars of orders
ADS, the UK’s AeroSpace, Defence and Security trade organisation and its subsidiary company Farnborough International Limited (FIL) today (Friday) announced the orders and attendee figures to date for the Farnborough International Airshow, held in Hampshire, UK between 09 – 15 July, 2012.
The 2012 show was sold out with an increased number of exhibiting companies (1506) compared to the 2010 show (1450). This year’s event saw excellent engagement from decision-makers with 15 UK Government ministers including the Prime Minister, as well as ministers from overseas plus 70 delegations from 46 countries, in attendance. As expected trade visitors overall were down by 9% which is in line with efficiency savings expected throughout the aerospace industry and within our customer base.
Orders for the show so far total $72 billion (~£46.6 billion). This is significantly up on the orders for 2010 which were totalled $47 billion (~£31 billion), and only £16bn down from the peak boom year in 2008 when the show saw $88.7 billion of orders.
The Farnborough International Airshow also contributes about £20 million to the local economy around Farnborough through the contribution from international visitors and companies.
Rees Ward, CEO at ADS said:
“The 2012 Farnborough International Airshow has been exceptionally successful and the figures demonstrate the growing mood of optimism that there has been around the show this year, which is very encouraging given the current global economic climate.
“To see over $72 billion worth of business done and so dramatically improving on 2010’s figures is great news for a global industry. It demonstrates a similar pattern shown in the UK’s Aerospace industry which generated £24.16bn in 2011 – an increase from £23.06bn in 2010. With exports accounting for 75 per cent of total UK Aerospace sales, the business done at Farnborough can only mean further work for our world beating industry.
“The high level of support and engagement from Westminster led by Mr Cameron being the first Prime Minister to open the show in living memory, only demonstrates the commitment and willingness of Government to ensure the success of a sector that can rightly claim pole position as Europe’s leading Aerospace exporter.
“Congratulations must go to Shaun and his team at FIL for a fantastic job well done and my thanks also go to my ADS colleagues who have helped to make the week a very positive one.”
Shaun Ormrod, Chief Executive of FIL, said:
“'Against the odds in the middle of a global recession we’ve witnessed yet another great Farnborough International Airshow for the UK and world aerospace industry. The exhibitor participation and the $72bn worth of orders, takes us back to the heady days of 2008 when FIL announced a total of $88bn orders.
“This fantastic Farnborough week that we have just had confirms FIL’s strategy of delivering Quality and global reach. We have ensured that our customers got even better value out of their time at the show, and as we all know time is money.
“We thank all our guests at this year’s show for attending and contributing to a successful Airshow. 20 per cent of the exhibition space has already been rebooked through our new marketing suite by customers keen to secure their space well in advance. We hope very much to see them again in 2014. The FIL team has done a marvellous job and they deserve both my thanks and the thanks of our guests this week for ensuring such a smooth-running event. We’re looking forward to welcoming around 7,500 young people today at Futures Day, plus an expected 120,000 people for the public weekend to round off what has been a tremendous week at Farnborough.”
A final total for the whole week of the Airshow will be published early next week.
Source: ASD Group
Date: Jul 15, 2012