The aerospace sector continues to grow in Spain. It is currently the 5th largest in Europe and the 8th worldwide. In 2018, revenue exceeded 11.8 billion euros, the highest ever recorded. The prioritization of research and development has been key in its growth, as aerospace companies have invested more than 10% of their revenue in R&D in the last decade. 66% of the sector’s turnover comes from exports, although the percentage is higher for the space industry (83%).
Spain is committed to continuing the development of the aerospace industry: At the Paris Air Show in Le Bourget this past June, Spain joined the Future Combat Air System as a partner, the program to develop the new European stealth fighter aircraft. In the same month, the German multinational Henkel opened its European aerospace Hub in Spain, indicating that the country continues to be an attractive destination for FDI in the sector.
In June, Gedeth Network organized a business agenda focused on FDI for IPEX, the Foreign Promotion Institute of Castilla-La Mancha, which took place at the International Paris Air Show in Le Bourget. Gedeth arranged meetings for IPEX with key aerospace companies looking to invest in the aerospace cluster in Castilla-La Mancha, which is one of the largest in Southern Europe.