Shopping Basket is Empty

You have no items in your shopping basket.

Click here to continue shopping.

UK Aerospace Posts Strong First Quarter

12 May 2017 02:05:55

With a general election looming and the promise of a break from the European Union ringing in the ears of manufacturers across the country, it’s an understandably nervy time for industry. Should the UK leave the European Union without any concessions for trade, it’s expected that a levy will have to be placed on trade both in and out of the UK to the European Union.

That, in turn, will lead to an increase in costs and inflation, hitting customers where it hurts. However, the immediate situation we’ve found ourselves in with Brexit is actually rather favourable. The fall in the value of the pound has meant that for countries around the world, the UK has become an appealing place to buy from.

In certain sectors like manufacturing that’s meant a sharp uptick in orders and some of the strongest growth witnessed in years. This is partly because orders for many manufacturers aren’t booked far in advance, but that’s not the only reason. As manufactures of stainless steel PTFE fittings, we’ve witnessed first-hand the surge in orders from overseas, but we aren’t the only industry benefitting.

Indeed, the UK aerospace industry – a particularly vital part of UK manufacturing and one at serious threat from Brexit – enjoyed the strongest first quarter since records began. The value of aircraft deliveries to the UK reached an unprecedented £6.5bn during Q1 2017, up a full billion since the same time last year, determined by a 10 percent rise in wide-body aircraft deliveries.

Orders have also risen by 40 percent for the first quarter, compared to the same period last year, and delivery rates are 15 percent higher than they were five years ago. The total number of aircraft deliveries in the first three months of the year reached 307, ahead of Q1 2016 – a year which had set new records for aviation distribution.

Paul Everitt, chief executive of ADS, the trade Organisation for companies in the UK aerospace, defence, security and space sectors, said: “Global demand is driving production rates higher and UK expertise is delivering essential components and technologies. Despite the uncertainties associated with the decision to leave the EU, aerospace innovation and productivity is helping to sustain the high value, long-term jobs our economy needs."

New orders were also strong, with 242 orders for new aircraft in the quarter were added to the already strong backlog of orders, which now sits at its all-time third highest level, with nearly 13,500 aircraft remaining on the books, worth a potential £220bn to the UK manufacturing sector.

Posted In: Uncategorized News
Tags:

"Custom Fittings are a 1st tier supplier to GS Hydro for stainless steel high and low pressure hydraulic components. For over 20 years Custom Fittings have been our preferred supplier due to the high ..." Chris Hargreaves, Managing Director - GS Hydro UK

We have been using Custom Fittings for many years now, they offer fantastic customer service as well as top of the range products. We could not recommend them more highly and will continue to use them..." James Tidy, Director - Tidyco Ltd

"Custom Fittings have been the number one supplier for stainless steel fittings to Fluid Power Services for over 25 years now.In the early years our requirements were for standard off the shelf parts ..." Anthony Smith, Sales Director - Fluid Power Services Ltd

"We have now been using Custom Fittings for over 10 years as our preferred supplier for all our hygienic hose inserts & ferrules ,We have found the quality of the finished products & the sales..." Paul Murphy, Sales Director - Dockweiler UK

Follows us

SSL Certificate
Paypal Logo Visa Logo Maestro Logo Mastercard Logo American Express Logo
TOP