Table of Contents
Executive Summary
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- Market size
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- Figure 1: UK aerospace equipment turnover, 2010-2014, (£ billion at MSP)
- Figure 2: UK aerospace equipment turnover, by sector, 2010-2014, (£ billion at MSP)
- Market trends
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- Figure 3: Regional analysis of global air passenger traffic development, 2011-2015*, five-year average, (% change in RPK)
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- Figure 4: Forecast development of the global airline fleet, by aircraft type, 2014 and 2034, (% of total)
- International trade
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- Figure 5: UK imports of aerospace equipment, 2010-2014, (£ million at CIF)
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- Figure 6: UK exports of aerospace equipment, 2010-2014, (£ million at FOB)
- Market factors
- Stagnation in global defence spending levels affecting growth opportunities
- Emerging markets pose threat to UK’s leading industry position
- ATI launches first aerospace technology strategy to help boost productivity and investment
- Global middle-class population growth makes it a key target market
- Companies
- Forecast
- The number of mainline jet deliveries is forecast to exceed 30,000 over the next two decades
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- Figure 7: Forecast world mainline jet deliveries, by type, 2015-2034, (Number)
- Asia-Pacific expected to have the largest airplane fleet in the world by 2034
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- Figure 8: Forecast world airplane fleet, by region, 2014 and 2034, (% of total)
- Defence expenditure limits predicted to marginally decline until 2016 at the earliest
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- Figure 9: Forecast UK DEL on defence, 2015/16-2017/18, (£ million)
- What we think
Key Insights
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- Can the UK maintain its industry-leading position?
- How are companies responding to the drive for sustainability and efficiency in the aerospace manufacturing process?
- Where are the key development opportunities for the industry?
UK Economy
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- Key points
- Overview
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- Figure 10: UK GDP, 2004-2015, (% quarterly growth and GDP in £ billion)
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- Figure 11: Quarters after GDP peak, 1979, 1990 and 2008, (Number of quarters and GDP as % of pre-downturn peak)
- Inflation
- Interest rates
- House prices
- Consumer spending
- Manufacturing
- Business investment
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- Figure 12: UK GFCF 2003-15, (£ million)
- Imports
- Exports
Market Factors
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- Key points
- Stagnation in global defence spending levels affecting growth opportunities
- Demand from commercial airlines continues to drive industry development
- Emerging markets pose threat to UK’s leading industry position
- Outsourcing providing a challenge to UK aerospace companies
- EU referendum
- ATI launches first aerospace technology strategy to help boost productivity and investment
- Other factors
UK Turnover
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- Key points
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- Figure 13: UK aerospace equipment turnover, 2010-14, (£ billion at MSP)
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- Figure 14: UK aerospace equipment turnover, 2010-2014, (£ billion at MSP)
- Figure 15: UK aerospace equipment turnover, by sector, 2010-14, (£ billion at MSP)
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- Figure 16: UK aerospace equipment turnover, by sector, 2010-2014, (£ billion at MSP)
Market Trends
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- Key points
- Civil aerospace
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- Figure 17: Regional analysis of global air passenger traffic development, in RPK, 2011-2015, (% annual change)
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- Figure 18: Regional analysis of global air passenger traffic development, 2011-2015*, five-year average, (% change in RPK)
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- Figure 19: Forecast development of the global airline fleet, by aircraft type, 2014 and 2034, (Number of aircraft)
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- Figure 20: Forecast development of the global airline fleet, by aircraft type, 2014 and 2034, (% of total)
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- Figure 21: World mainline jet deliveries, by model and manufacturer, 2000, 2011-2014 and partial-year 2015, (Number)
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- Figure 22: World mainline jet deliveries, by manufacturer, 2000, 2011-2014, (Number)
- Figure 23: Large commercial aircraft net orders, 2014 and partial-year 2015, (Number)
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- Figure 24: Regional aircraft deliveries, by model, 2011-2014, (Number)
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- Figure 25: Deliveries of business aircraft, by manufacturer, 2010-2014, (Number of aircraft)
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- Figure 26: Deliveries of business aircraft, 2010-2014, (Number)
- Defence
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- Figure 27: The UK defence departmental expenditure limits and defence spending, 2010/11-2014/15, (£ million)
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- Figure 28: UK defence departmental expenditure limits and defence spending, 2010/11-2014/15, (£ million)
- Figure 29: The UK defence departmental capital expenditure limits, 2011/12-2015/16, (£ million)
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- Figure 30: The UK defence departmental cash resource expenditure limits, 2011/12-2015/16, (£ million)
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- Figure 31: The UK defence annually managed expenditure limits, 2009/10-2013/14, (£ million)
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- Figure 32: MoD equipment expenditure, 2011/12-2015/16, (£ million)
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- Figure 33: MoD equipment expenditure, 2011/12-2015/16, (£ million)
- Figure 34: MoD research & development expenditure outturn, 2008/09-2012/13, (£ million)
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- Figure 35: UK defence expenditure by industry, 2009/102013/14, (£ million)
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- Figure 36: MoD major equipment projects, as at 31 March 2014, (£ million)
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- Figure 37: Defence aircraft and spacecraft expenditure outturn in the UK, 2009/102013/14, (£ Million)
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- Figure 38: Defence aircraft and spacecraft expenditure outturn in the UK, 2009/10-2013/14, (£ million)
- Figure 39: Forward available fleet by aircraft type for the UK armed forces, 2010-2014, (Number)
- PFI
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- Figure 40: MoD PFI projects, 2014, (Year and £ million)
International Trade
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- Key points
- Overview
- Imports
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- Figure 41: UK imports of aerospace equipment, 2010-2014, (£ million at CIF)
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- Figure 42: UK imports of aerospace equipment, 2010-2014, (£ million at CIF)
- Segmentation
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- Figure 43: Segmentation of UK imports of aerospace equipment, by type, 2010-2014, (£ million at CIF)
- Exports
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- Figure 44: UK exports of aerospace equipment, 2010-2014, (£ million at FOB)
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- Figure 45: UK exports of aerospace equipment, 2010-2014, (£ million at FOB)
- Segmentation
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- Figure 46: Segmentation of UK exports of aerospace equipment, by type, 2010-2014, (£ million at CIF)
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- Figure 47: Identified orders of UK exports of defence aircraft and equipment, 2010-2014, (£ million)
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- Figure 48: Identified orders of UK exports of defence aircraft and equipment, 2010-2014, (£ million)
- Figure 49: UK aerospace equipment trade balance, 2010-2014, (£ million)
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- Figure 50: UK aerospace equipment trade balance, 2010-2014, (£ million)
Industry Structure
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- Key points
- Industry development
- Industry structure
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- Figure 51: Analysis of the changes in the structure of the manufacture of air and spacecraft and related machinery industry, 2011-2015, (Number of factories and businesses)
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- Figure 52: Analysis of the changes in the structure of the repair and maintenance of aircraft and spacecraft industry, 2011-2015, (£000 and number of companies)
- Structure by employment
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- Figure 53: Analysis of the employment structure of the manufacture of air and spacecraft and related machinery industry, 2014 and 2015, (Number of outlets and outlet employment size)
- Figure 54: Analysis of the employment structure of the repair and maintenance of aircraft and spacecraft industry, 2014 and 2015, (Number of outlets and outlet employment size)
- Structure by turnover
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- Figure 55: Analysis of the financial structure of the manufacture of air and spacecraft and related machinery industry, 2014 and 2015, (£000 and number of businesses)
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- Figure 56: Analysis of the financial structure of the repair and maintenance of aircraft and spacecraft industry, 2014 and 2015, (£000 and number of businesses)
Company Profiles
AgustaWestland
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- Figure 57: Financial analysis of AgustaWestland, 2010-2014, (£ Million)
- Company outlook
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Airbus Operations
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- Figure 58: Financial analysis of Airbus Operations, 2010-2014, (£ million)
- Company outlook
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BAE Systems
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- Figure 59: Financial analysis of BAE Systems, 2010-2014, (£ Million)
- Company outlook
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Cobham
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- Figure 60: Financial analysis of Cobham, 2010-2014, (£ million)
- Company outlook
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GE Aircraft Engine Services
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- Figure 61: Financial analysis of GE Aircraft Engine Services, 2010-2014, (£ million)
- Company outlook
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GKN
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- Figure 62: Financial analysis of GKN, 2010-2014, (£ Million)
- Company outlook
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GKN Aerospace Services
Lockheed Martin (UK)
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- Figure 63: Financial analysis of Lockheed Martin (UK), 2010-2014, (£000)
- Company outlook
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Rolls-Royce
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- Figure 64: Financial analysis of Rolls-Royce, 2010-2014, (£ Million)
- Company outlook
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Short Brothers
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- Figure 65: Financial analysis of Short Brothers, 2010-2014, (£000)
- Company outlook
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Turbo-Union
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- Figure 66: Financial analysis of Turbo-Union, 2010-2014, (£000)
- Company outlook
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- Figure 67: Profiled companies’ turnover, 2010-2014, (£ million)
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Forecast
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- Key points
- Industry outlook
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- Figure 68: Forecast world mainline jet deliveries, by type, 2014-2033 and 2015-2034, (Number)
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- Figure 69: Forecast world mainline jet deliveries, by type, 2015-2034, (Number)
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- Figure 70: Forecast world airplane fleet, by region, 2014 and 2034, (Number)
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- Figure 71: Forecast world airplane fleet, by region, 2014 and 2034, (% of total)
- Business jet market anticipates stable growth
- Other aircraft demand forecasts
- Market drivers for civil aerospace sector
- Government and industry collaboration is keeping the industry at the forefront of strategy development
- Research and development
- Largest passenger growth will be seen in emerging markets
- Global middle-class population growth makes it a key target market
- Low-cost carriers are becoming more dominant in the industry due to ongoing economic fragility in many regions
- Airport capacity concerns
- Replacement aircraft demand to remain a main driver in the development of the civil aerospace market
- Climate change is driving industry innovation that will benefit both the environment and aerospace companies
- Air defence equipment forecast
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- Figure 72: Forecast UK DEL on defence, 2015/16-2017/18, (£ million)
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- Figure 73: Forecast UK DEL on defence, 2015/16-2017/18, (£ million)
Further Sources and Contacts
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- Trade associations
- Trade magazines
- Trade exhibitions
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