New data from Irish Government agency Enterprise Ireland has revealed that the aerospace and aviation industry is worth more than €4.1bn to the country’s economy.
The contribution is fuelled by Irish aircraft lessors, who manage €80bn in assets worldwide.
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More than 250 aircraft leasing companies are currently actively involved in the aerospace, aviation and space sectors, thereby offering employment to roughly 42,000 full-time workers.
According to the Enterprise Ireland data, the country’s aircraft leasing companies manage more than 50% of the industry’s global expenditure. The country currently has 30 international aircraft leasing operations.
The companies have invested in employee skillset, research and development, sales and exports to enhance their competitiveness in the sector and support the worldwide growth of Ireland.
The country currently has 200 active aviation and aerospace companies supported by Enterprise Ireland.
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By GlobalDataEnterprise Ireland UK engineering and electronics senior market adviser Sean Long said: “Boasting a competitive and agile aviation and aerospace sector there is tremendous scope for Ireland to build intelligent, innovative and ambitious partnerships with the UK and beyond.
“At Enterprise Ireland, we are working thoroughly to ensure we use our industry and regional expertise to help companies within the sector achieve their global ambition.”
Long added that Enterprise Ireland is working with Irish maintenance, repair and operations (MRO) provider Dublin Aerospace to help the company achieve €70m in turnover by 2020.
The association is expected to help develop the Irish supply chain within the aerospace and aviation sector.
