Aerospace orders soar to $28 billion following Farnborough Airshow
The 2018 Farnborough International Airshow has helped generate an approximate $28 billion in UK aircraft and engine deals, ADS has announced.
Around 1,400 UK aircraft orders have been placed. Additionally, the global aerospace industry has secured a further $190 billion in orders and commitments thanks to Farnborough. Only the 2014 airshow has surpassed this high watermark.
Along with her senior cabinet, Prime Minister Theresa May made many key announcements during the early days of the airshow, including R&D and innovation projects worth £343 million, a brand new Combat Air Strategy, and the UK’s first spaceport in Sutherland, Scotland.
Later, British astronaut Major Tim Peake launched a public competition to name the UK-built Mars Rover at Futures Day, while young people experienced a range of activities designed to encourage their study of STEM subjects and promote future careers in engineering sectors like aerospace and defence.
“This has been a fantastic Farnborough International Airshow, where we have seen great confidence in the global aerospace industry and important announcements that will support future investment in the UK’s high value aerospace, defence and space industries,” said Paul Everitt, Chief Executive of ADS.
“With deals for more than 1,400 aircraft announced worth up to $28 billion to UK industry it is clear that demand in the aerospace industry remains high. This has been the most international show in our history and the best place for both UK exhibitors and our overseas visitors to showcase their capability and plans for the future at the most important aerospace event of the year.”
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