Why this is important to Wisconsin businesses: Imports outweigh exports, and the U.S. is a key source of the industry’s imports.
Ireland’s aerospace industry is flying high, and Wisconsin companies with expertise in the sector may find a wide range of opportunities.
The aviation sector—including airlines, airport operators and businesses, and manufacturers—generated $5.6 billion for Ireland’s economy in 2023, with more than 44,000 employees, according to the International Air Transport Association.
Imports play a big role in the success of the sector, topping $20 billion in 2023 compared with exports of $5.1 billion, according to TrendEconomy. Ireland purchases products that include helicopters, spacecraft, and components of balloons, gliders, and airplanes. The U.S. is a major supplier of aircraft and spacecraft imports, with a total value of $7.6 billion in 2023, second only to France.
In recent years, Ireland’s aerospace industry has shifted toward more sustainable products, such as lighter, more fuel-efficient aircraft, to reduce the industry’s carbon footprint.
Ireland has also become a significant source in the aerospace supply chain for major industry manufacturers such as Rockwell Collins, Thales, and Bombardier. The country’s skilled workforce and commitment to research and development have resulted in a reputation for precision engineering, advanced materials, and aircraft software systems.
In addition, Ireland and the U.S. are now the two major centers worldwide for aircraft leasing firms. At least 50% of the world’s leased commercial aircraft are managed from Ireland.
