British and Global Aerospace Industry Braces Itself for Economic Slow Down

With the country in the grip of recession there is now heightened concern for tens of thousands of jobs in the aerospace sector as the whole industry holds its breath for an inevitable global slowdown through 2009. An early indication of this has recently been aircraft manufacturer Boeings indication that its orders drop by half during the previous twelve months.

Boeing announced it had delivered 662 aircraft during 2008 Boeing and had to concede to European competition Airbus who produced over 750 for the same period.

Another of the major signals of the poor times ahead in 2009 has also been the announcement from the Chinese Government to inform all its domestic airlines not to take delivery of any new aircraft during 2009. This position have a significant impact to the aerospace industry which would expect to deliver around two hundred and fifty aircraft to China and the surrounding areas..

The Society of British Aerospace Companies (SBAC) have also indicated an estimation of over 110,000 employees directly working within the British aerospace industry with over 250,000 being non directly employed. Many forget that other organisations are directly attached to the aerospace industry, such companies include those who produce aerospace components such as titanium springs or aircraft electronic systems.

Airbus and Boeing both say they have substantial order books but the real concern is the growing concern is in the financial sector where borrowing remains the vital key to regeneration of all manufacturing and economic markets. If the finance is not made readily available to these companies and organisations the orders currently in situ could well be affected.

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