2024: it's (almost) a wrap
2024 was a momentous year in global politics, with more than half of the planet holding elections and their outcomes dominating our news agendas.
Our own UK summer – peppered with the excitement of both a change in administration and the biggest Farnborough International Airshow to date – saw a new era begin for our sectors with Sir Keir Starmer’s Government potentially representing a major shift in the direction of travel for the UK’s aerospace, defence, security and space industries.
The Industrial Strategy debate has at last come full circle, with our January 2024 manifesto calling for a strategy co-created with industry, directly preceding October’s Industrial Strategy Green Paper. The pace of policy change that the new Government is implementing is truly remarkable, with the Strategic Defence Review and Defence Industrial Strategy of course top of mind and a number of other consultations under way – we certainly cannot say our opinions are not being sought!
Naturally, we should reflect on this summer’s big event – and of course I don’t mean Wimbledon – but rather Farnborough International Airshow. The unprecedented demand we saw for exhibition space, attendance and more reflects the strength of confidence and untapped potential in our sectors. The £81.5bn of deals announced during the Airshow at a time of turmoil in aerospace manufacturing also reflects its enduring role as an industry-wide convener.
Events outside of the Airshow continued to demonstrate success this year also. Perhaps most prominently Security & Policing, which had its largest-ever attendance in 2024 and looks set to be even bigger in 2025. This reflects remarkable data from ADS this year that the security sector’s value to the UK economy grew 165% over the last ten years.
Other fast-growing areas like sustainable aviation and the space sector hold great potential economic value to the UK. That is why events like the Sustainable Skies World Summit, and the inaugural Farnborough International Space Show, can have even more of an important role in unlocking that potential. There is clearly a strong desire across ADS’ sectors to bring industry together to do business, find new paths and share knowledge in emerging areas through events like these. Office working may be more hybrid but meeting people in person is clearly not dead!
2025 has the potential to usher an exciting period of prosperity and development for our sectors. The UK can continue to lead the world in a number of key capabilities if adequately supported – no need to “pick winners” when the global market has already decided that they want our innovation and manufacturing excellence. That said we cannot be complacent and while our sectors were supported in the Government’s first Budget this was also accompanied by some challenging tax changes. As their series of reviews comes to a close, we want to see the Government create a business and investment environment that will allow industry to continue to thrive.
Until next year,
Kevin Craven
ADS Chief Executive
