The Farnborough International Airshow kicked off with a bang today, with a staggering £39.3 billion ($51 billion) worth of deals announced on its opening day.
This impressive figure underlines the event’s status as the pinnacle of the global aviation industry and highlights the resilience and innovation of the UK aviation sector.
Of the deals concluded, 163 firm aircraft orders, worth £4.6 billion, stood out for the UK. These significant orders are testament to the strong demand and confidence in British aviation capabilities. In addition to the aircraft orders, the deals also included 28 firm engine orders, boosting the overall value of the transactions. Today’s agreements included 114 aircraft and optional engine commitments, as well as various service agreements, indicating a strong pipeline of future business.
The figures have been published by the ADS Group, a trade association representing the UK’s aerospace, defence, security and space sectors, and organisers of the Farnborough International Airshow. The strong first day total reflects the continued resilience and prosperity of the aerospace industry, despite challenges in regulatory frameworks, supply chains and workforce availability.
Kevin Craven, CEO of ADS and Chairman of Farnborough International Airshow, expressed his optimism and pride in the industry’s achievements: “The importance and strength of the Farnborough International Airshow makes today’s announcements unsurprising and very welcome. Our aviation industry remains vibrant and resilient despite challenges in regulatory frameworks, supply chain and workforce.
“The UK is home to innovative, ambitious and world-renowned advanced manufacturing companies, both large and small, and we rightly celebrate their impact at the home of British aviation. Our aerospace sector delivers £10.9 billion of value to the UK economy, and in 2023, the UK’s total aerospace exports were worth £20 billion. It is our partnership with our international peers that makes the UK home to a truly open, ambitious and innovative industry.”
The deals signed on the first day reinforce the strategic importance of the Farnborough International Airshow in the global aviation and aerospace calendar. The event is a vital platform for showcasing developments in aerospace technology and fostering international cooperation. The commitments made on the opening day are expected to boost UK aerospace exports and make a significant contribution to the national economy.
The biennial event continues to attract major players from across the aviation sector, highlighting its role as a hub for networking, deal-making and technology showcases. The £39.3bn worth of deals sets a high bar for the airshow’s subsequent days, promising a week packed with ground-breaking announcements and strategic partnerships.
As the Farnborough International Airshow progresses, the industry will be eagerly awaiting further developments and deals that will shape the future of the aviation and aerospace industry. The impressive start has already underlined the importance of the event and the pivotal role the UK plays in the global aviation and aerospace industry.