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Farnborough Aerospace Growth Forum Launched

Posted 30 July 2014 · Add Comment

Today marks the launch of the Farnborough Aerospace Growth Forum, a new partnership bringing together key stakeholders from across the aerospace industry, to deliver sustained growth for the sector in the South East of England.


This new partnership of public and private sector organisations will provide coordinated support to promote and grow the aerospace and defence sectors in the region.

•    Key forum stakeholders include ADS Group Ltd, which incorporates Farnborough International Ltd  (FIL) and ADS as Trade organisation representing the UK Aerospace, Defence, Security and Space industries, Business South, the Department of Business Innovation and Skills (BIS), Farnborough Aerospace Consortium and Hampshire County Council.


•    In the next twenty years it has been estimated the aerospace industry in the South East region could generate £150 billion as a result of global demand for new civilian aircraft  
The forum consolidates industry expertise, financial support and facilitation services under a single umbrella partnership to help boost expansion and the resilience of the aerospace industry in the region. In addition, it will help drive inward investment, support entrepreneurship in the aerospace industry and facilitate supply chain linkages.  

With the South East of England representing 26% of the UK’s total aerospace footprint, the value of  this new organisation to the economic development of the region and the UK’s overall financial growth is significant. It is predicted in the next twenty years the South East region could generate £156 billion from the aerospace industry, based on forecasted global demand for construction of new large civil airliners, business jets, regional aircraft and civil helicopters.  

The forum includes the ADS Trade Organisation, Business South, the Department of Business Innovation and Skills (BIS), Farnborough Aerospace Consortium, Farnborough College of Technology, Farnborough International Limited (FIL), Hampshire Chamber of Commerce, Hampshire County Council, Rushmoor Borough Council, The Enterprise M3 Local Enterprise Partnership, The Solent Local Enterprise Partnership, the University of Southampton and UK Trade and Investment.

Shaun Ormrod, Chief Executive, Farnborough International Limited (FIL - pictured) commented:  “Farnborough is renowned throughout the world as a centre of aerospace and aviation excellence.  The new Forum will enable us to build on the fantastic heritage of the Farnborough International Airshow, bringing together a consortium to leverage Farnborough’s brand equity nationally and internationally.  Creating a centralised organisation, which can direct businesses to appropriate market leading resources and
expertise is a natural step to reinforce the region’s world class credentials in this sector.”

Paul Everitt, Chief Executive, ADS Group Ltd, said: “Farnborough and the surrounding counties boast not only a world class legacy in aviation and aerospace innovation, but one of the most dynamic and forward thinking centres of excellence for these industries in the world.  Bringing together public and private sector stakeholders within a single umbrella organisation will enable the region to reinforce its status as a global powerhouse.  Our strategy for development will facilitate even greater growth and ensure Farnborough and the Hampshire area benefits from further expansion of these industries, boosting employment and economic growth.”  

David Barnes Chief Executive Officer of Farnborough Aerospace Consortium commented:  “Launching a new body that brings together key stakeholders across the region is immensely exciting and challenging.  At a time when we are witnessing significant investment in next generation defence, space and logistics solutions, particularly with advances in Unmanned Aerial Systems (UASs), we are ideally placed to capitalise on demand for next generation technologies.”

Andrew Lloyd, Chief Executive, Rushmoor Borough Council, added: “We value greatly the creation of the forum, which will benefit the aerospace sector locally and will further enhance Farnborough’s worldwide reputation. The forum offers a great opportunity to bring together public and private sector organisations to support economic growth locally, regionally and beyond.”

It will support the long term strategic growth of the sector, drawing upon the internationally
recognised brand of Farnborough, which is acknowledged around the world as a hub for aerospace and aviation expertise and knowledge.  The forum will act as a key facilitator not only for global primes seeking to develop manufacturing and R&D facilities and their global supply chain, but also for innovative start-up and small-to-medium sized enterprises (SME).  
 
The South East of England supports almost a third of the UK’s overall aerospace footprint and contributes a GVA of £3.58 billion.  The UK’s aerospace and defence industry is the largest in Europe, with more than 20% market share.  In Hampshire, where Farnborough is situated, it represents a high-growth sector with a concentration of employment that is double the national average, a high concentration of world-class companies and some of the UK’s best research and development facilities.

 

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