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Aerospace Market Report 2003

  • ID: 34762
  • July 2003
  • Region: United Kingdom
  • Key Note Ltd
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The UK's aerospace industry is currently the second-largest in the world with turnover in 2002 standing at £16.14bn. It provides employment for around 348,000 people (including ancillary sectors) and is one of the UK's major export earners. A recent Department of Trade and Industry (DTI) study highlighted aerospace as the UK's most globally competitive industry - a key measure of its global success being its penetration of the US market. The industry in the UK has benefited from a long-term improvement in productivity, with output per worker rising by 4% a year since 1980.

However, the industry is currently experiencing its worst downturn since the Second World War, both in the UK and internationally. An unparalleled sequence of events has precipitated this decline. The industry has always been highly dependent on the global economic cycle and the economic slowdown that began in 2001 has undoubtedly had a major impact on demand in the civil aerospace sector. However, the terrorist attacks on the US on 11th September 2001 caused confidence in air travel to collapse, leaving many airlines on the verge of bankruptcy, while others went into liquidation. Orders for new airliners READ MORE >

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TABLE OF CONTENTS:
<BR>
<BR>Executive Summary 1
<BR>
<BR>1. Market Definition 8
<BR>
<BR>REPORT COVERAGE 8
<BR>MARKET SECTORS 8
<BR>Aircraft Systems and Frames 8
<BR>Aircraft Equipment 9
<BR>Aircraft Engines 9
<BR>Maintenance, Repair and Overhaul 9
<BR>Space and Satellite Manufacture 9
<BR>MARKET TRENDS 10
<BR>Civil Aerospace 10
<BR>Military Aerospace 10
<BR>ECONOMIC TRENDS 11
<BR>Inflation 11
<BR>Table 1: UK Rate of Inflation (%), 1998-2002 12
<BR>Unemployment 12
<BR>Table 2: Unemployment Rate and Actual Number of Unemployed Persons (% and 000), 1998-2002 12
<BR>Population 12
<BR>Table 3: UK Resident Population by Sex (000), Mid-Years 1998-2002 13
<BR>Gross Domestic Product 13
<BR>Table 4: Index of Growth in UK Gross Domestic Product at Current Prices (index 1995=100), 1997-2001 13
<BR>Household Disposable Income 14
<BR>Table 5: Index of Household Disposable Income (index 1971=100), 1997-2000 14
<BR>MARKET POSITION 14
<BR>
<BR>2. Market Size 15
<BR>
<BR>THE TOTAL MARKET 15
<BR>Table 6: The UK Aerospace Industry by Value at Current Prices (£bn at msp), 1998-2002 15
<BR>CIVIL AEROSPACE 16
<BR>Table 7: The UK Civil Aerospace Sector by Value at Current Prices (£bn at msp and %), 1998-2002 17
<BR>MILITARY AEROSPACE 17
<BR>Table 8: The UK Military Aerospace Sector by Value at Current Prices (£bn at msp and %), 1998-2002 18
<BR>BY MARKET SECTOR 18
<BR>Aircraft Systems and Frames 18
<BR>Table 9: The Aircraft Systems and Frames Sector by Value at Current Prices (£bn at msp), 1998-2002 18
<BR>Aircraft Equipment 19
<BR>Table 10: The Aircraft Equipment Sector by Value at Current Prices (£bn at msp), 1998-2002 19
<BR>Aircraft Engines 19
<BR>Table 11: The Aircraft Engines Sector by Value at Current Prices (£bn at msp), 1998-2002 20
<BR>Other Sectors 20
<BR>Maintenance, Repair and Overhaul 20
<BR>Table 12: The Maintenance, Repair and Overhaul Sector by Value at Current Prices (£bn at msp), 1998-2002 21
<BR>Space and Satellite Manufacture 21
<BR>Table 13: The Space Sector by Value at Current Prices (£bn at msp), 1998-2002 22
<BR>OVERSEAS TRADE 22
<BR>
<BR>3. Industry Background 23
<BR>
<BR>RECENT HISTORY 23
<BR>INDUSTRY SYNOPSIS 23
<BR>Table 14: Key Financial Ratios for the Aircraft and Spacecraft Manufacturing Industry (£000, % and £) 24
<BR>NUMBER OF COMPANIES 24
<BR>EMPLOYMENT 25
<BR>REGIONAL VARIATIONS IN THE MARKETPLACE 25
<BR>DISTRIBUTION 25
<BR>HOW ROBUST IS THE MARKET? 26
<BR>LEGISLATION 26
<BR>KEY TRADE ASSOCIATIONS 27
<BR>Civil Aviation Authority 27
<BR>The Economic Regulation Group 27
<BR>QinetiQ 28
<BR>Defence Science and Technology Laboratory 28
<BR>European Space Agency 28
<BR>Royal Aeronautical Society 29
<BR>Society of British Aerospace Companies 29
<BR>United Kingdom Aerospace Forum 29
<BR>Regional Aerospace Consortia 29
<BR>Aerospace Wales 29
<BR>Eastern Aerospace Alliance 30
<BR>Farnborough Aerospace Consortium 30
<BR>Northern Defence Industries Aerospace Group 30
<BR>Northern Ireland Aerospace Consortium 30
<BR>North West Aerospace Alliance 30
<BR>West of England Aerospace Forum 30
<BR>
<BR>4. Competitor Analysis 31
<BR>
<BR>THE MARKETPLACE 31
<BR>MARKET LEADERS 31
<BR>AgustaWestland 31
<BR>Company Structure 31
<BR>Current and Future Developments 32
<BR>Financial Results 32
<BR>Airbus UK Ltd 32
<BR>Company Structure 32
<BR>Current and Future Developments 32
<BR>Financial Results 33
<BR>Astrium Ltd 33
<BR>Company Structure 33
<BR>Current and Future Developments 33
<BR>Financial Results 34
<BR>BAE SYSTEMS PLC 34
<BR>Company Structure 34
<BR>Current and Future Developments 34
<BR>Financial Results 35
<BR>BBA Group PLC 35
<BR>Company Structure 35
<BR>Current and Future Developments 35
<BR>Financial Results 36
<BR>Boeing 36
<BR>Company Structure 36
<BR>Current and Future Developments 36
<BR>Financial Results 37
<BR>Bombardier Aerospace Europe Ltd 37
<BR>Company Structure 37
<BR>Current and Future Developments 38
<BR>Financial Results 38
<BR>Cobham PLC 38
<BR>Company Structure 38
<BR>Current and Future Developments 39
<BR>Financial Results 39
<BR>Dunlop Standard Aerospace Group Ltd 39
<BR>Company Structure 39
<BR>Current and Future Developments 40
<BR>Financial Results 40
<BR>EADS 40
<BR>Company Structure 40
<BR>Current and Future Developments 40
<BR>Financial Results 40
<BR>GE Aircraft Engine Services Ltd 41
<BR>Company Structure 41
<BR>Current and Future Developments 41
<BR>Financial Results 41
<BR>GKN Aerospace Services Ltd 41
<BR>Company Structure 41
<BR>Current and Future Developments 42
<BR>Financial Results 42
<BR>Meggitt PLC 42
<BR>Company Structure 42
<BR>Current and Future Developments 42
<BR>Financial Results 43
<BR>Rolls-Royce PLC 43
<BR>Company Structure 43
<BR>Current and Future Developments 43
<BR>Financial Results 44
<BR>Smiths Group PLC 44
<BR>Company Structure 44
<BR>Current and Future Developments 44
<BR>Financial Results 44
<BR>Ultra Electronics Holdings PLC 45
<BR>Company Structure 45
<BR>Current and Future Developments 45
<BR>Financial Results 45
<BR>MARKETING ACTIVITY 45
<BR>Exhibitions 45
<BR>
<BR>5. Strengths, Weaknesses, Opportunities and Threats 46
<BR>
<BR>CIVIL AEROSPACE 46
<BR>Strengths 46
<BR>Weaknesses 46
<BR>Opportunities 46
<BR>Threats 47
<BR>MILITARY AEROSPACE 47
<BR>Strengths 47
<BR>Weaknesses 47
<BR>Opportunities 48
<BR>Threats 48
<BR>
<BR>6. Buying Behaviour 49
<BR>
<BR>CUSTOMER PROFILE 49
<BR>CIVIL AEROSPACE 49
<BR>Behaviour of Airline Customers 49
<BR>US Airlines 50
<BR>European Airlines 50
<BR>Airline Aid 51
<BR>Asian Routes 51
<BR>Budget Airlines 52
<BR>MILITARY AEROSPACE 52
<BR>The Global Customer Base 52
<BR>US Spending 52
<BR>Military Spending in the Developing World 53
<BR>
<BR>7. Current Issues 54
<BR>
<BR>UK GOVERNMENT POLICY 54
<BR>MAJOR UK DEFENCE PROGRAMMES 55
<BR>Future Strategic Tanker Aircraft Programme 55
<BR>Joint Strike Fighter aircraft 55
<BR>Eurofighter 56
<BR>New Giant Aircraft Carriers 57
<BR>THE ROLE OF THE IRAQI AND AFGHAN conflictS 57
<BR>THE UK'S EUROPEAN DILEMMA 58
<BR>LEGISLATIVE CHANGES 59
<BR>THE ENVIRONMENT 59
<BR>
<BR>8. The Global Market 60
<BR>
<BR>JOINING THE JET SET 60
<BR>A SMALLER SLICE OF THE AMERICAN PIE 60
<BR>EUROPE'S EXPANDING HORIZONS 60
<BR>PACIFIC PARADISE? 61
<BR>America's Continuing Military Might 61
<BR>
<BR>9. Forecasts 62
<BR>
<BR>GLOBAL ECONOMY 62
<BR>INTERNATIONAL TERRORISM 62
<BR>Table 15: The Forecast UK Aerospace Industry by Value at Current Prices and Constant 2002 Prices (£bn at msp), 2003-2007 64
<BR>FUTURE TRENDS 64
<BR>Aircraft Size 64
<BR>Fuel Developments 64
<BR>Competition in the Civil Sector 65
<BR>The Global Giants 65
<BR>Competition in the Military Sector 65
<BR>
<BR>10. Company Profiles 66
<BR>
<BR>Bae Systems Plc 67
<BR>Bba Group Plc 69
<BR>Bombardier Aerospace Europe Ltd 71
<BR>Cobham Plc 73
<BR>Ge Aircraft Engine Services Ltd 75
<BR>Rolls-royce Plc 77
<BR>Smiths Group Plc 79
<BR>
<BR>11. Further Sources 81
<BR>
<BR>Associations 81
<BR>Bonnier Information Sources 82
<BR>Government Publications 83

Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown

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