British aerospace companies perform well in 2011

1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Published: July 12, 2012

Despite an overall tepid UK economy, the country’s civil aerospace manufacturing industry had a banner year in 2011, according to ADS.

The trade group representing UK aerospace companies, including Rolls-Royce, said in a report released Wednesday at the Farnborough Airshow that 2011 “was one of the best years ever for the [UK] civil aerospace industry.” It said UK civil aerospace revenue grew 7.6% year-over-year “driven by spectacular performance in exports which were up 9.4% in nominal terms.”

Speaking to reporters at Farnborough, ADS president and EADS UK CEO Robin Southwell said it is “pretty newsworthy” that the industry greatly outpaced the country’s economy. “This is an export-oriented market,” he explained. “We’re not reliant on UK demand. When you are hugely reliant on the UK market or the euro zone environment, it’s tough going. But that’s not the position we are in.”

Southwell said ADS anticipates UK civil aerospace production rates to increase 15%-20% this year compared to 2011.

Tagged with: , , , , ,

Email This Post Email This Post