Paris Air Show: UK Pavilion Roundup - Day 2
A second busy day at the Paris Airshow has seen 342 deals totalling £21bn announced across the show today, which could be worth up to £2.3bn to UK companies.
Korean Air signed a deal for fifty Airbus A321neos, which will help secure employment for 7,500 people across the UK’s supply chain, manufacturing parts and components for the aircraft’s wings. The deal will also benefit many other British companies that supply products ranging from hydraulic equipment, to tyres, actuation systems, and communication antennas.
The UK’s aerospace sector employees 110,600 people in high-value, high-skill jobs nationwide; with 3,300 apprentices and trainees. Ninety-one per cent of final demand in aerospace comes through exports which generated £26.3bn last year.
Breakdown
- Regional Aircraft = 41 deals – worth between £70 – 80m to UK industry.
- Single Aisle = 295 deals – worth between £1.6 – 1.9bn to UK industry.
- Widebody = 6 deals – worth between £200 – 250m to UK Industry.
Paul Everitt, CEO of aerospace trade organisation ADS Group says: “We’ve seen another day of major deals being done at Paris which is great news for UK industry.
“Minister of State for Trade and Investment, Lord Maude, visited the show today. His visit demonstrates the value placed on the UK’s aerospace sector by Government to deliver economic success. This is achieved through exports and the ability of British companies to grow their share of international markets.”
Background
- The UK’s aerospace sector is the largest in Europe with an annual turnover of £29.2bn
- Yesterday (15th), 425 deals totalling £34bn were announced across the show, which will be worth £5.5bn to UK companies
- The UK’s aerospace sector has a 17 per cent share of the global market.
Also announced at Paris today was a deal for Farnborough International Limited to deliver the Sichuan International Airshow in September 2017.