£38.3bn
£X.Xbn
78,958
793
£X.Xbn
The Aircraft, Engine and Parts Manufacturing industry revenue is forecast to fall at a compound annual rate of 2.8% to £39.9 billion over the five years through 2024-25, including an estimated revenue growth of 3% in 2024-25, aided by orders of 250 Airbus aircraft from Air India. The UK aircraft manufacturing industry is the second-largest in the world after that of the US. It's a major investment, research and development source and is particularly renowned for producing and assembling aircraft wings and manufacturing aircraft engines. Orders for aircraft and aircraft equipment are typically placed years in advance, meaning deliveries continue even during economic headwinds.
Industry revenue has declined at a CAGR of 2.6 % over the past five years, to reach an estimated £38.3bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue (£m)
2024 |
---|---|---|
BAE Systems plc | 4,495.0 | |
Airbus Operations Ltd | 4,368.8 | |
Rolls-Royce plc | 3,579.0 |
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Industry revenue is measured across several distinct product and services lines, including Aircraft equipment, Aircraft engines and Other. Aircraft equipment is the largest segment of the Aircraft, Engine & Parts Manufacturing in the UK.
Flying hours inch upwards, leading to bolstered order books for aircraft engines and equipment
Businesses in this industry manufacture complete aircraft and spacecraft, engines, propulsion units and other related equipment and parts, including military and civil aircraft and guided missiles.
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SIC 30.30 - Aircraft, Engine & Parts Manufacturing in the UK
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
The pandemic dented revenue as commercial aircraft levels plummeted. COVID-19 travel restrictions led to a swift drop in passenger numbers and widespread flight cancellations...
Learn about an industry's products and services, markets and trends in international trade.
Demand for engines dropped amid the pandemic. The ban on flying in 2020-21 led to a crash in commercial orders, reducing the need for engines.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
The North West is an automotive hub. The region is home to a significant portion of aircraft, engine and parts manufacturers.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Larger players benefit from consistent orders for defence. The companies fortify their market shares through both commercial and defence orders. This means it’s difficult for...
Learn about the performance of the top companies in the industry.
BAE Systems maintained a steady revenue stream despite the pandemic. The company was able to swerve the colossal impacts of the pandemic thanks to its strong links to UK defe...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Demand from scheduled passenger air transport impacts performance. When demand for passenger air transport increases, more flights are scheduled and more aircraft are needed.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Steel prices have shot up. This has lifted the cost of production for aircraft makers as steel is a key input.
Including values and annual change:
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Key data sources in the UK include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
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The market size of the Aircraft, Engine & Parts Manufacturing in the UK industry in United Kingdom is £38.3bn in 2024.
There are 793 businesses in the Aircraft, Engine & Parts Manufacturing in the UK industry in United Kingdom, which has declined at a CAGR of 2.5 % between 2019 and 2024.
The market size of the Aircraft, Engine & Parts Manufacturing in the UK industry in United Kingdom has been declining at a CAGR of 2.6 % between 2019 and 2024.
Over the next five years, the Aircraft, Engine & Parts Manufacturing in the UK industry in United Kingdom is expected to grow.
The biggest companies operating in the Aircraft, Engine & Parts Manufacturing market in United Kingdom are BAE Systems plc, Airbus Operations Ltd and Rolls-Royce plc
Aircraft engines and Defence aircraft are part of the Aircraft, Engine & Parts Manufacturing in the UK industry.
The company holding the most market share in United Kingdom is BAE Systems plc.
The level of competition is high and steady in the Aircraft, Engine & Parts Manufacturing in the UK industry in United Kingdom.