Velocity seals Airbus extension worth up to $54m

Burnley aerospace company Velocity Composites has signed a 10-year contract extension with a longstanding Tier One customer worth up to $54m.

The contract will see company supply composite material kits parts for the Airbus A350 programme in a deal that will run until 2035.

The deal will also see Velocity increase its scope of work on the programme. As well as supplying its parts for the A350-900 it will also be working on the A350-100 variant of the long-range, wide-body twin-engine airliner.

The contact is expected to generate approximately $2.5m in revenue in FY26, with $1m representing new business.

All the kits will be manufactured at Velocity's advanced facility in Burnley, in line with previous programmes since 2017.

Velocity says the supply of the new kits is expected to start in in early 2026 following the completion of the normal qualification and transfer process. 

Jon Bridges, chief executive of Velocity, said: "The renewal and extension of this major contract is a testament to the strength of our relationship with this prestigious customer, and the value they see in our services.

“We are delighted that the contract has been extended to include the A350-1000 variant for the first time, and that we have been selected to supply all remaining kitted material for both variants.

“The expanded scope of work deepens our engagement with the customer, and the successful A350 programme whose build rates are expected to increase in the coming years.

“The contract secures a long-term revenue stream to support our growth."

In May, Lancashire Business View reported that Velocity had renewed a contract with BAE Systems for a further three years.

 Velocity has been working with BAE Systems since 2010 and will continue to provide process material kits for the F35 and Typhoon programmes.