The Farnborough International Airshow 2024 has announced deals worth at least £13 billion to the UK, according to the ADS Group, the UK trade association for the aerospace, defence, security, and space sectors.
By Thursday evening, the total value of deals, estimated by the ADS Group to be £81.5 billion, highlights the industry’s “confidence, resilience, and buoyancy,” said Aimie Stone, chief economist at ADS.
Of these deals, the 260 firm aircraft orders are valued at £6.4 billion for the UK, with 808 firm engine orders adding another £1.2 billion at current prices.
However, Stone cautioned that despite the positive outlook, “with demand for aircraft still outpacing the amount we are able to fulfil, it’s clear that the new government needs to address the challenges currently holding back our sector’s ability to deliver its full potential and impact to our economy.”
Saudi Arabia’s leading low-cost carrier flynas, signed a Memorandum of Understanding (MoU) for 75 A320neo family aircraft and 15 A330-900s making this 90-aircraft order the largest of the week-long trade show.
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Farnborough Airshow 2024 secures £13bn in deals for UK aerospace sector