For French aerospace industry association GIFAS the crisis year of 2009 was a “year of resilience” and 2010 is “a year of transition,” with air traffic increasing again powered by low-cost companies and the emerging nations. GIFAS chairman Jean-Paul Herteman said he is “confident that 2011 could be a year of recovery for our industry, but it will not come sooner.”
Economy of Pakistan
French aerospace orders last year remained at record levels but the long-term weakness of the U.S. dollar against the euro continues to erode profit margins and increase pressure on companies to move production away from France. Last year, just ahead of the 2007 Paris Air Show, new French President Nicholas Sarkozy took office on a pledge to address issues undermining the competitiveness of French industry.
With total sales expected to hit nearly $200 billion by the end of last year and a backlog of $360 billion, the Aerospace Industries Association (AIA) sees a strong U.S. aerospace manufacturing sector continuing to set records over the next few years.
Last year’s slump in commercial aircraft sales and employment was not as sharp as predicted and not nearly as deep as the industry experienced 10 years ago. That’s the assessment of the Aerospace Industries Association (AIA), which also sees a recovery for civil aviation between next year and 2006, along with a concurrent upswing for aerospace employment.
At the start of last year, GIFAS merged with GITEP, an association of French defense and security electronics firms, bringing its total membership to 234 companies, including 199 equipment makers. The aerospace sector companies together employed 118,000 people in France–half a percent down on 2003. When the figures included the GITEP workforce, the total was 129,800.