2 minute read - 29th November 2022
Aerospace sector recovery continues as orders rise in October
Global aircraft orders increased in October 2022 compared to previous months, according to data released by ADS. The 299 aircraft ordered during October is the most for that month since October 2019, boosting the full year-to-date aircraft orders figure to its strongest for the first ten months of the year since 2014. Single-aisle aircraft continue to dominate both the order books and recovery, accounting for 90% of orders placed so far in 2022.
Aircraft deliveries also rose, with 95 aircraft delivered (75 single-aisle and 20 wide-body), a 51% increase on October 2021. Following the high delivery numbers seen in recent months, aircraft deliveries remain in line with the ADS forecast, with 860 deliveries made so far in 2022. Year to date, single aisle deliveries are 73% ahead of October 2021, and wide-bodies are 14% ahead from the same point of time in 2021.
As global aircraft manufacturer production rate ramp-ups take effect, UK manufacturing data reflects the increase in global demand for aircraft. Following initial rate ramp ups in May, aerospace manufacturing output data has risen one per cent as the global backlog of aircraft orders remains above 13,000.
The backlog of global aircraft orders stands at 13,577, a seven per cent increase on October 2021, and continues to rise with demand and market confidence. The growing backlog of aircraft represents several years’ worth of work and is estimated to be worth £223bn to the UK aerospace industry.
ADS chief executive, Kevin Craven, said: “Stronger order and delivery books coupled with a rising backlog seen throughout 2022 continue to be a welcome indication that long-term recovery from the COVID-19 pandemic is progressing. There is still a long way to go to achieve a full recovery, and it is important that we see continued support for manufacturers to invest in R&D to build a strong foundation for the future.
“In the government’s recent Autumn Budget, we saw commitments maintained to the rising R&D investment we will need to support the UK’s ambitions as a world-leader in advanced manufacturing. Our aerospace sector is home to some of the most advanced manufacturing techniques, continued investment in R&D is essential for UK to be a world-leader in the development of net-zero technologies for the next generation of green aircraft.”