A new report from aerospace trade organisation ADS Group has revealed the nine countries that should take top priority in helping the UK sector achieve its ambitious growth plans as the global market continues to thrive.
According to the report, published today at the fifth annual International Aerospace Xchange event, emerging aerospace markets such as Brazil, Japan, Mexico and South Korea will increasingly drive global growth. Additionally, markets already delivering strong exports to the UK such as China, USA, Canada, India and Russia will continue to play an important role and should remain a key focus for government and industry alike.
With market projections forecasting the requirement for 29,000 new large civil airliners, 24,000 business jets, 5,800 regional aircraft and 40,000 helicopters by 2032, the right prioritisation and strategy will be critical in maximising the opportunity for UK industry.
Paul Everitt, chief executive of aerospace trade organisation, ADS Group said: “This is an extremely exciting time for the UK aerospace industry. Last year we saw a seven per cent increase in the number of large aircraft delivered and with global demand continuing to grow there are some great opportunities for UK companies. “The Aerospace Growth Partnership, a unique partnership between the UK government and aerospace industry, is encouraging new investment in technology, skills and the supply chain to ensure we remain globally competitive.
“The UK is recognised as a leader in the development and manufacture of some of the most complicated and high tech parts of modern aircraft. The Global Aerospace Outlook highlights the geographical opportunities and will enable UKTI and companies throughout the supply chain to plan activity for the year ahead using a strong evidence base.”
Aerospace priority markets and current position:
- Brazil: According to the latest HMRC export data, exports to Brazil were worth £32m in 2013. Projected increases in demand present an opportunity for the UK’s burgeoning aerospace sector;
- Japan: Appears 19th in a list of UK aerospace export nations, but it is expected that growth will start to take off and Japan will become an important aerospace export market;
- Mexico: In 2013, aerospace exports to Mexico were worth £34m making it the 32nd largest aerospace export nation but fast growth is expected;
- South Korea: Also experiencing rapid growth and it is expected to increase in importance for aerospace exports;
- China: Currently 10th in the list of UK aerospace exports but it experienced exponential growth of 21% last year alone. Exports to China have increased tenfold in the last decade and growth is set to continue in line with dramatic increases in consumer demand for domestic and international air travel;
- USA: Currently the UK’s third largest aerospace export market. Forecasts show the prominence of the USA is set to continue;
- Canada: The UK delivered £528m in aerospace exports to Canada in 2013 making it a valuable market;
- India: The 8th largest market for aerospace exports in 2013 and growth set to continue in line with rapid increases in consumer demand;
- Russia: In 2013, exports to Russia were worth £397m making it a valuable market for UK aerospace exports. Continued focus is required on this important market.
Sources: Global Aerospace Outlook 2014 and HMRC