The 2024 Farnborough International Airshow has announced deals worth at least £13 billion for the UK, according to the ADS Group, the UK trade association for the aerospace, defence, security and space sectors.
By Thursday evening, ADS had estimated the total value of deals at £81.5bn, highlighting the “confidence, resilience and vitality of the industry”, said Amy Stone, chief economist at ADS.
Of these deals, 260 fixed-wing aircraft were worth £6.4bn to the UK, with 808 fixed-wing engine orders worth a further £1.2bn at current prices.
However, Stone warned that despite the positive outlook, “with demand for aircraft continuing to outpace the amount we are able to meet, it is clear that the new government needs to address the challenges currently hindering our sector’s ability to achieve its full potential and impact on our economy.”
Flynas, Saudi Arabia’s leading low-cost carrier, has signed a Memorandum of Understanding (MoU) to purchase 75 A320neo Family aircraft and 15 A330-900 aircraft, making the order of 90 aircraft the largest at the week-long trade show.