Aircraft backlog ‘reflects buoyancy of aerospace sector’
November marked the fourth consecutive record-breaking backlog of aircraft orders, which now totals almost 15,000, according to ADS Group, the trade association for aerospace, defence, security, and space organisations.
The…
November marked the fourth consecutive record-breaking backlog of aircraft orders, which now totals almost 15,000, according to ADS Group, the trade association for aerospace, defence, security, and space organisations.
The latest data highlights a 354% increase on November 2022’s figures for orders placed November 2023, with a 10% year-on-year growth in the backlog.
A new report from ADS Group highlights that year to date 2,657 aircraft orders have been placed. While single-aisle aircraft account for more than 2,000 of those on order, 2023 represents a record-high for wide-body aircraft at 586 wide-body aircraft orders placed year to date.
Deliveries of aircraft are up 3% on the same month in 2022, with 120 deliveries made in the month of November 2023. Driven by stronger single-aisle activity, a continued ramp up of this magnitude will beat the ADS forecast of 1,215 for 2023.
The size of the engine backlog is another record high, with 28,376 engines on backlog order in November 2023.
The aircraft on backlog are estimated to be worth £234 billion to the UK’s aerospace sector.
Commenting on these announcements, Aimie Stone, chief economist at ADS said: “While we see record numbers of orders placed, and a slight uptick in deliveries on 2022 figures, it’s clear that buoyancy in the aerospace sectors requires a continued ramp up at all levels of the supply chain.
“To secure the long-term advantage of our aerospace industry, worth more than £10.9 billion in value add to the UK economy in 2022, it is important that challenges to our supply chain are recognized and addressed.”
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