FINN: Farnborough Intl. News Network (Red.)
Farnborough International Airshow 2024 reports record demand from the global aerospace industry
In line with the positive outlook for the aerospace industry, which is expecting commercial revenues to grow 14% year-on-year, the forthcoming edition of the Farnborough International Airshow in 2024 is reporting record-breaking demand for exhibition space, sponsorship packages and marketing activations. The show is set to reach new heights as the preeminent marketplace for an industry on an upward trajectory.
Despite the ongoing supply chain challenges, the aerospace and space industries are set to soar during the next year. IATA has estimated that the global airline industry is expected to return to profitability in 2023, reaching $5 billion in profit, and Accenture has reported that MRO recovery is expected to stay steady through 2023, with most executives anticipating MRO budgets will stay the same or increase in the next 24 months.
Heading above the atmosphere, the global space market has grown to approximately $447 billion, up from $280 billion in 2010, and is estimated to reach $1 trillion by 2030, according to a report by McKinsey and World Economic Forum.
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