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Table of Contents

Executive Summary

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TABLE OF CONTENTS

Executive Summary

Market Definition

MARKET SECTORS

MARKET TRENDS

Table 1: Approximate Number of Parked Aircraft, Year End 1989-1995

Table 2: Share of World Revenue Passenger Kilometres (RPK) and Projected Growth ( percent), 1996-2005

Market Size

THE TOTAL MARKET

INDIVIDUAL MARKET SECTORS

OVERSEAS TRADE

Table 3: Apparent UK Market for Aerospace (£m), 1995

Table 4: UK Aerospace Industry - Estimated UK Manufacturers' Sales by Product Category (£m at msp), 1991-1996

Table 5: Estimated UK Manufacturers' Sales of Aircraft, Parts and Engines (£m and percent), 1995

Table 6: Space Funding Expenditure by Subject (£m and percent), 1995/1996

Table 7: Aerospace Trade Balance (£m), 1995

Table 8: Aerospace Imports and Exports (£m at msp), 1990 and 1995

Table 9: Exports of the UK Aerospace Industry (£m), 1995

Table 10: Imports of UK Aerospace Industry (£m), 1995

Industry Background

RECENT HISTORY

INDUSTRY CONCENTRATION

EMPLOYMENT

DISTRIBUTION

TRADE ASSOCIATIONS

Table 11: Employment in UK Aerospace (000), 1990/1991-1994/1995

Competitor Analysis

THE MARKETPLACE

MARKET LEADERS

ADVERTISING AND PROMOTION

Table 12: Financial Results of Principal Aerospace Companies in the UK (£m), 1994/1996

Table 13: Quarterly Main Media Advertising Expenditure on Aircraft (£000), March 1995 to June 1996

Strengths, Weaknesses, Opportunities and Threats (SWOT)

STRENGTHS

WEAKNESSES

OPPORTUNITIES

THREATS

Buying Behaviour

LEADING AIRLINES

Table 14: Leading World Airlines by Revenue Passenger Kilometres - RPK (million), 1995

Outside Suppliers to the Industry

INTRODUCTION

RAW MATERIALS SUPPLIERS

OTHER MATERIALS AND SMALL COMPONENTS

SUPPLIERS OF SERVICES

Current Issues

MAJOR CONTRACTS

FARNBOROUGH 1996

PRODUCT DEVELOPMENT

CONCORDE REPLACEMENT

EUROFIGHTER 2000

FUTURE LARGE AIRCRAFT

JOINT STRIKE FIGHTER (JSF)

CORPORATE ACTIVITY

TECHNOLOGY AND LEGISLATION

Forecasts

FORECAST AIRCRAFT PURCHASES AND COST

FORECASTS 1996-2000

Table 15: Predicted Worldwide Aircraft Purchases (number), 1996-2015

Table 16: Predicted Delivered Cost ($bn and units), 1996-2015

Table 17: Forecast UK Manufacturers' Sales for the Aerospace Industry (£m), 1996-2000

Table 18: Forecast Apparent UK Market for Aerospace (£m), 1996-2000

Company Profiles

INTRODUCTION

DEFINITIONS

FURTHER INFORMATION

Further Sources

ASSOCIATIONS

PERIODICALS

DIRECTORIES

GENERAL SOURCES

HBI UK INFORMATION SOURCES

GOVERNMENT PUBLICATIONS

OTHER SOURCES

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EXECUTIVE SUMMARY

The apparent UK market for aerospace was estimated by Key Note to be around £7.18bn in 1995. UK manufacturers' sales, including avionics, have been in excess of £10bn for the last 6 years, representing 2 percent of the UK's gross domestic product (GDP) and 9 percent to 10 percent of manufacturing GDP. 11 British companies are placed in the world's top 100 aerospace companies in terms of sales. The market is still orientated to defence, with some 53 percent of turnover for the military.

The aerospace market includes aircraft production, both civil and military, avionics, missile systems, space equipment and refurbishment work. Aircraft production is subdivided into airframe manufacture, parts supply and production for aircraft manufacture, jet engine supply and the supply of parts for jet engines. Avionics are electrical and electronic control systems as fitted to aircraft and missiles, plus ground-based software and systems for flight management, etc. Missile systems excludes non-guided ordnance other than that intended to be carried on an aircraft. Space equipment covers communications and earth observation satellites. Refurbishment work includes maintenance work carried out by the major manufacturers, where such work cannot be distinguished from the remainder of the company's turnover.

The industry has survived a period of severe recession better than its Continental colleagues due to early rationalisation and cost cutting. It is now coming out of recession with greatly improved profitability, partly due to the necessary change of focus to financial, rather than technical, aspects during a period of strong price restraints and falling sales. In the civil airline market, loss of demand for air travel led to airlines choosing not to take up purchase options and creating a buyers' market.

In 1996, the focus has been on whether various key defence contracts would be awarded to British companies. These contracts have now secured the immediate future of a number of firms. As airlines start to purchase again, the price war between Airbus (with its partner British Aerospace) and Boeing has become more intense. General Electric and Rolls-Royce are also battling it out to supply engines for the 777 and to certify their engines for use on the proposed 747-500X and the Airbus A3XX.

The total apparent UK market for aerospace is forecast to reach £7.74bn in 2000. UK manufacturers' sales are forecast to reach £11.14bn and exports £7.8bn by the same year. The projection assumes that the Eurofighter 2000 project will go ahead.

Text © 1996 Key Note

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