Defence Secretary Ben Wallace today announced a rise in the baseline profit rate for single source defence contracts to 8.31 per cent, while the underlying profit rate fell from 8.23 per cent for 2020/21 to 8.19 per cent for 2021/22.
The opening day of an entirely digital edition of Security & Policing saw AR Live Systems win the 16th annual ADS Security Innovation Award. AR Live Systems won for its Galahad facial detection and recognition software, an innovative use of machine learning and artificial intelligence to address legal and privacy challenges of use of facial recognition for law enforcement purposes.
Commenting on the Budget presented by the Chancellor today, ADS Chief Executive Paul Everitt said: "Our industries welcome the extension to furlough and support for apprenticeships, which offer a route for thousands to access high value careers in aerospace, defence, security and space."
The UK aerospace sector is among the most impacted industries by the pandemic and faces a long haul to recovery. A report by the Centre for Economics and Business Research (CEBR) for ADS modelled potential recovery scenarios for the sector.
ADS Chief Executive Paul Everitt will be stepping down at the end of March and will be succeeded by Kevin Craven as Interim Chief Executive. Kevin Craven is currently Strategic Partnership Director at Serco plc. He has been a member of the ADS Board for 3 years and is currently ADS Vice-President for Defence.
Aviation is vital to re-establishing the international connections the UK needs to secure a return to growth. Industry welcomes the opportunity to contribute to the work of the reconstituted travel taskforce, which I urge to bring forward its report into the resumption of travel as quickly as possible.
Global commercial aircraft deliveries in January 2021 were up 7 per cent on January 2020 with 47 aircraft delivered.
Six finalists have been confirmed for the ADS Security Innovation Award 2021 with the winner set to be announced at this year’s Security & Policing event.
Responding to the Government's announcement of a hotel quarantine policy for some travellers, ADS Chief Executive Paul Everitt said: “These latest measures to restrict international travel will worsen the severe downturn in aviation and deepen the crisis in the UK aerospace industry."
Final annual figures for 2020 show commercial aircraft orders and deliveries fall to their lowest levels for more than a decade.