Mass Transport and Data Processing both moutperformed.
The order intake in Q1 of 2025 was the second highest since Q2 of 2022.
There were some significant variations in market performance.
Mass Transport up 71% (linked to key rolling stock & infrastructure projects)
Data Processing up 52% on key datacentre projects
Mil/Aero up 24% (a significant increase over 2024 and the highest revenue level since the end of 2023)
Distribution significantly up 21%
Medical up 9%
Communication down 9%
Test & Msmnt down 14%
Broadcast down 16% (against a backdrop of significant spend in 2024).
“We could be forgiven for thinking that everything was rosy,” says ITSA, “however things have since been shaken by the significant tariffs being imposed by the US on the rest of the world, which is definitely not reflected in the data yet.”
However, ITSA has seen a significant increase in defence spending, reflecting both the continuing war in Ukraine and probably some pre-emptive spending anticipating that Europe is going to have to fend for itself more.
The second quarter is expected to show a far more accurate picture of business levels for the near future and members are naturally extremely cautious.
Nevertheless, the level of RFP’s etc carried into 2025 has helped in holding up Q1 and with a current positive Book-to-Bill there are some faint signs of hope.
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ITSA Membership details at: https://itsa.org.
