€9 billion injected into the French aerospace industry

In September 2022, during the International Astronautical Congress, the French Prime Minister, Élisabeth Borne, stated that more than €9 billion would be invested in the aerospace industry in the three upcoming years.

This fund’s purpose is to ensure France’s autonomy in accessing space; to place France at the forefront of aerospace for the sake of the climate, in cooperation with Europe; and to protect national interests in aerospace defense.

In 2019, aerospace was the second most important manufacturing industry in terms of R&D in France, as well as the largest export sector. Despite a 32% decline in revenues in 2020, given the Covid-19 crisis, 6,700 new hires were still made in 2020 for skilled positions, reaching a total of 194,000 employees in January 2021.

A recovery in the sector is predicted by aerospace business leaders. According to the French Aerospace Industries Association (GIFAS), in 2021, the sector’s total revenue increased by 7.2% compared with 2020 and exports rose by 10%.

To learn more about the development of the French aerospace industry, follow this link.