The aerospace industry in France faced unquestionably difficult challenges in 2020 as the COVID-19 pandemic halted the aviation industry in its tracks and cast a long shadow over the sector that is still recovering. Although still diminished, the French aerospace industry is very much ready for a fight and has been showing positive signs of recovery. In 2020, the aerospace industry comprised 4480 companies, providing employment for 263,000 people and generating revenues of 106 billion euros. The pandemic's impact on the industry was substantial. Aerospace revenues experienced a sharp decline of 32% in 2020. However, what's remarkable is that this drop in revenue did not translate into a corresponding loss of employment. Companies leveraged government support measures, including partial activity, to cushion the blow. As a result, the reduction in the workforce was significantly smaller, staying at 8%. This demonstrated the sector’s strong goals to preserve jobs under even the most severe circumstances. The brunt of these job losses was felt by small and medium-sized enterprises (SMEs). Innovation remained a driving force within the industry as research and development activities went on at a consistent pace. Interestingly, the sector did not witness any significant relocations or a shift towards re-internalization of its operations. As we entered 2021, industry leaders observed signs of increasing activity compared to the latter half of 2020 and anticipated this recovery to continue throughout the year. While a rise in employment was expected in the service sector, the manufacturing segment was anticipated to be more conservative in terms of job creation. As the industry adapts to changing global dynamics, its ability to navigate turbulent skies with innovation and tenacity will be crucial for its sustained growth. At the end of the day, the prognosis is good – at this rate, France’s aerospace industry will resume its growth.

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