Aerospace design, development and production company FACC has announced its revenue has grown 12.5% year-on-year in the first half of 2022.
FACC says the demand for new and more efficient aircraft is again increasing significantly and FACC is able to benefit from this trend due to its long-term supply contracts with all aircraft and engine manufacturers.
The company anticipates a continuous increase in demand, and with orders for around 13,000 aircraft from all major manufacturers as well as a major order from Archer Aviation, all signs are pointing to growth.
FACC has opened a new plant in Croatia and hired 200 new members of staff since the beginning of the year, and says its workforce will be increased by another 500 employees in the next 12 – 18 months. The military conflict between Russia and Ukraine has had no direct impact on FACC, as the company does not procure materials or services from either of the two countries. According to FACC, prior to the imposition of sanctions against Russia, product sales with Russian aircraft were low at around EUR 1 million per year, and the supply of FACC components to Russian customers has now been suspended.