Explanatory notes

摘要

The information used in preparing this report has been obtained solely from company annual reports, public filings, and other publicly available information.Companies have been ranked for their financial year 2020 or 2020-2021. As far as possible we have sought to obtain representative figures for aerospace turnover. Companies involved predominantly in aviation services, finance and MRO have been excluded. Sectors involved with aero engines, aerostructures, aircraft, avionics, missiles and space are largely straightforward, but network-centric, telecommunications and C4IS (command, control, communications, computers and intelligence systems), as well as some overhaul operations have been included only when these are largely concerned with aerospace activities.Satellite services have been excluded whenever possible, as have businesses that derive more than half their revenues from services such as leasing. Joint ventures have been included in the financials. Intersegment sales have been excluded from operating results and profits where possible. Where not possible, divisional sales have been presented inclusive of interdivision sales, which may result in aerospace revenues greater than group sales.