Over a month has now passed since the Farnborough International Airshow ended and although our ears have recovered from the daily demonstrations of the latest aircraft, we are still busy following up the many contacts and leads that were made over the course of the week.
Similar to the IBT Partners mission at the Paris Eurosatory trade show in June, we arrived at Farnborough with the aim of representing our clients on a global stage, working with them to forge links with potential new customers as well as looking to consolidate existing partnerships with meetings and visits.
Farnborough only comes around once every two years and it really is worth taking advantage of, if only because it removes the often challenging amount of technical procedures and bureaucracy usually required when approaching larger companies. Rarely, for instance, do our clients have the chance to open dialogue with aerospace OEMs so directly - doors that are usually sealed shut are opened for a week.
Due to this, Farnborough represents a good opportunity for our clients to gain a better understanding of what is happening from an international perspective. In addition, both the military as well as the civilian aerospace sectors are well represented, a combination which left us and our clients a better understanding of the wider industry and the emerging trends within it.
Looking at the trend and developments most evident from Farnborough 2012, it seems that most companies and especially those currently experiencing strong growth, are choosing not to invest in new production sites. Instead, the aerospace manufacturing market is working with what it has, favouring expansion or upgrading of existing facilities. Some companies, are even shutting sites down in an attempt to streamline operations and focus on investing in the remaining centres of production. Although this indicates that the European aerospace market is not as bullish as years gone by, it certainly remains one of the most important worldwide.
Ready to pick up any European slack are the rapidly expanding aerospace markets in emerging economies, led most notably by the BRIC nations. Investment in new production sites in Brazil, China and India was a recurring and much-discussed theme at Farnborough and one that IBT Partners and the world would do well to follow carefully.
The international nature of Farnborough also means that it is a must-attend event for all companies with an interest in the aerospace industry, regardless of where they based. North American companies seeking to enter the European market are as well-serviced as European firms hoping to expand their interests closer to home.
In short, whatever you are looking for at Farnborough you are likely to find – as long as you do not throw away the map listing the exhibitors. In that case, be prepared to wander a maze of stalls for hours at a time.
Although a remarkable event in terms of networking, exchanging ideas and keeping up to date with a constantly evolving industry, the sheer numbers of exhibitors and visitors at Farnborough meant that the event organization didn’t take off quite as spectacularly as some of the aerial demonstrations.
Problems with mixed-up baggage, identification problems at the entrance and considerable queues the first thing in the morning were, it seems, the price to pay for access to one the world’s leading aerospace exhibition.
Overall though, everyone can look back on a busy and productive week with satisfaction and equally look forward to developing the partnerships and relationships fostered at Farnborough – see you in two years!