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Australian Aerospace Manufacturing Entering a New Era

The recent signing of major contracts by Boeing and Airbus with Hawker de Havilland and ASTA heralds the dawn of a new era for Australia’s small but highly viable aerospace manufacturing sector.

The new arrangements stem from the Federal Government’s industry statement of 12 March in which they signalled the end of the civil offsets program in favour of mutually beneficial Market Access Arrangements which ensure that Australian companies can bid on a fair basis for manufacturing component contracts worldwide. The recent (refer Newsdesk) $455m contract between ASTA and HdH and a similar contract with Airbus highlight the longer term potential that is available under the new arrangements. Traditionally Australian aviation contracts, whether they be civil or military, were based on some portion of the value of each contract being fed back into local industry as a fiscal balance for acquiring the imported aircraft in the first place. Most developed nations used offset clout to its fullest during the seventies and eighties and Australia was no different. What was different was that without Government investment, in the form of interna- tionally competitive loans, our manufacturers found it almost impossible to be able to raise sufficient venture capital to get aboard the larger projects as joint risk sharing partners.

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