Farnborough 2010: Recession over?

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23 July 2010

Orders and attendee figures for this year’s Farnborough International Airshow are down on 2008.
 

June 23: A|D|S, the UK’s AeroSpace, Defence and Security trade organisation and its subsidiary company Farnborough International Limited (FIL) announced that orders and attendee figures for this year’s Farnborough International Airshow are down on 2008, but on a par with 2006.

More exhibitors (1450) were present compared to 2008 (1393), and orders announced so far total $47 billion (€37 billion), well down on the record-busting 2008 event ($88.7 billion) but more than 2006’s $46 billion. The four trade days saw 120,461 people attend, about 8% down on 2008.

Ian Godden, Chairman of A|D|S, said “The 2010 Farnborough International Airshow has been very successful and the figures demonstrate the mood of strong optimism that there has been around the show this year, which is very encouraging given the current global economic climate. To see over $47 billion dollars worth of business done and the quality of the business transactions at the show is a testament to the endurance of our sectors, their positive contribution to UK and world trade as well as the significance of the show itself.”

Airbus and Boeing won 237 airliner orders between them, worth $28 billion and more than three times that announced in Paris a year ago with a resurgent aircraft-leasing industry leading the way.

“I’m surprised by the level of enthusiasm for sustainable recovery,” said Howard Wheeldon, a senior strategist at BGC Partners LP in London. “The industry is saying we’re through this, we’re moving on -- the light at the end of the tunnel is already here. That’s the sense you get.”

However, the optimism felt in the commercial sector was balanced by a dearth of activity in military sales as very little business was done, with declining defence budgets taking their toll on several programmes.

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