ADS: Aircraft orders down 79% year-on-year in May 2023
Aircraft orders for May 2024 were down 79% from the previous year, a report by the ADS Group has highlighted, with year-to-date orders now sitting at 14% behind the same point last year. However, the upcoming Farnborough International Airshow may well account for an apparent pause in announcements.
The 79% drop stands in contrast with orders placed in the first four months of 2024, adds the trade group, which were tracking 16% above the same period in 2023. However, ADS chief economist Aimie Stone believes that continued confidence within the sector remains justified as any upcoming may be saved for the upcoming show.
The “single biggest and most prestigious event for the aerospace sector” typically attracts large commercial announcements, which means that falling order rates “in an otherwise buoyant sector, are simply a reflection of the sector’s collective desire to make their orders at this flagship event”.
ADS figures also indicate a “healthy order backlog” of 15,694 aircraft, 17% ahead of the equivalent period in 2023. Although single aisle orders are currently down 95% compared to May 2023 (with 7 ordered during the month) , the number of wide-body orders placed in May 2024 (a total of 24) is up 118% on the same month last year.
