The UK’s aerospace sector performed well in 2009 despite the economic crisis, according to ADS’s 2010 aerospace industry survey.
ADS Chairman Ian Godden labelled this as an “extraordinary performance” during a recession with an increase in revenues, a rise in productivity and stability within the workforce.
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According to the findings of the survey, revenues in the sector has risen by 5.4% to £22.2bn ($33.8bn) and exports account for 70% of the turnover.
Aerospace exports to the rest of the world grew by 20%, while exports to the EU grew by 10%.
Orders for the UK industry fell by 10.4% to £32.2bn ($49bn), but at a lower level of decline than in 2008, according to the report.
Investment on research and development dropped 7.4% to £1.74bn ($2.5bn) as a result of the recession.
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By GlobalData“Although the downwards trend in R&D spending is somewhat expected in the short term during a recession, the industry will have to reverse this now that the economy is showing signs of picking up,” Godden said.
