Two British firms have made the Top 10 fastest growing aerospace and defence companies in the PwC Top 100 published today.
Global engineering group Meggitt is 43 overall but has made it in the top 10 fastest growing firms (at seventh, with Bristol-based Chemring Group making it to number nine).
Rolls-Royce is the highest ranking UK firm in the top 100 at number 12 (up from 14 in 2010), then BAE Systems is at 15 and Cobham, which serves more than 250 airlines, major aircraft manufacturers and a number of armed forces with communication systems and components, is 34.
This is the 15th year that PwC in the UK has compiled the data analysing trends, rankings, growth and profit data right across the A&D sector.
Boeing has retained the crown as the most successful overall business in the industry. EADS was runner-up followed by F-35 manufacturer Lockheed Martin.
Although Boeing was number one overall, it was Airbus that took the top seat for commercial aerospace.
On the commercial side, both Boeing and Airbus have continued with strong order books despite a slowdown in some air travel markets.
Overall year on year, aircraft engine manufacturers have seen a 6.6% growth in revenue, with UK firm Rolls-Royce recording a 9.8% increase. Large commercial aircraft saw the biggest sector rise with a 10.1% growth but defence aerospace was down 3.3% along with the business aircraft sector that lost 3.2%.
Neil Hampson, global A&D leader at PwC, commented: “The industry is undergoing one of the most rapidly evolving periods in its history. Factors such as technology, innovation, globalisation and programme management will undoubtedly be key markers for a company’s success.
“But we are also in a very challenging economic climate. This is inevitably placing pressure on businesses, especially those in the defence sector where once secure government programmes are now under intense scrutiny. In such a global industry, consolidation will continue as companies will need to change and adapt to this environment and build new relationships.”