Aviation & Aerospace
All pictures: Farnborough International Airshow.
Published: August 31, 2023 | Updated: 30th August 2023
Farnborough International are looking forward to a record-breaking airshow in 2024 as the commercial aerospace industry continues on its upward trajectory.
The team is ‘working tirelessly’, said CEO Gareth Rogers, to put together enough floorspace, sponsorship packages and marketing for the big July event.
More than 90 per cent of commercial exhibition slots and chalets have already been reserved and sold across the site – including over half of the 17 new chalets built specially to meet the unprecedented demand.
And with only a few self-build stands left available across the show’s four exhibition halls, many other would-be exhibitors are being put on the waitlist.
It all comes as the sector forecasts promising year-on-year revenue growth of 14 per cent – a welcome return to pre-Covid profitability despite ongoing supply chain challenges.
Gareth said: “As the first internationally renowned airshow to take place after the pandemic, Farnborough International Airshow 2022 signified the revival of the aerospace, defence, and space industries and proved the value and need for global airshows.
“Since then, we’ve seen the aerospace industry accelerate partnerships and sustainable strategies to take their operations to new heights.
“At Farnborough International, we’re ready to support the industry within this period of growth and act as a catalyst for positive, future-focused change that will steer the trajectory of aerospace, space and defence for the next decade.”
The International Air Transport Association (IATA) estimates $5 billion profits for the global airline industry in 2023, with executives expecting that maintenance, repair and overhaul budgets will either stay the same or increase over the coming 24 months.
There’s also the global space market, which has grown from $280 billion in 2010 to $447 billion today. McKinsey and the World Economic Forum expect that figure to hit $1 million by 2030.
Farnborough International Airshow runs from 22th to 26th July 2024, showcasing the latest pioneering technology in the sector and offering a venue for industry professionals to connect and forge new partnerships.
