2 minute read - 28th February 2023
Aerospace sector continues post-pandemic recovery
Global aircraft orders for January saw a modest start to 2023 with orders placed for 70 single-aisle aircraft and 22 wide-body aircraft, 19% less than 2022, but in line with post-pandemic recovery trends and expectations.
Manufacturers delivered 58 aircraft – 53 single-aisle and five wide-body aircraft – which compared to January 2022 is a 6% decrease. Aircraft deliveries are expected to increase in the coming months as manufacturers absorb the production rate ramp-ups of 2022, ensure global supply chains are prepared for 2023, and look ahead to a busy calendar of international events, including Paris Air Show in June.
With few cancellations in January, the backlog of aircraft orders continues to rise and is above 13,000 aircraft for the 14th consecutive month following three per cent growth on January 2022. The current backlog is 13,519 aircraft, a positive marker for the health of the sector, and in the coming years, the backlog could be worth up to £209bn in approximate value to the UK aerospace sector.
The aerospace sector is continuing its post-pandemic recovery in line with expectations – the order backlog remains above 13,000 for the 14th consecutive month / Picture: Getty/iStock
ADS says it will issue a global delivery forecast for 2023 at the end of Q1 when manufacturers have released their rate intentions for the year and when ADS Q1 aircraft delivery figures are published in April.
ADS chief executive, Kevin Craven, said: “The modest global aircraft orders made in January remains in line with our post-pandemic recovery expectations. Deliveries remain stable but below last year, but this is not concerning as January can be a volatile month. Throughout 2023, the international aviation and aerospace industries will come together at important events such as the Sustainable Skies World Summit, and Paris Air Show, offering the UK the important opportunity to continue its leadership in the development of net zero aircraft technology.
“Ahead of these events, in the upcoming Spring Budget, I hope the see the Chancellor address the rising cost of doing business which affects UK manufacturer’s ability to deliver on the rate ramp ups. Investing in the UK supply chain is essential to ensure that the global aerospace sector can meet our ambitious decarbonisation goals, and for a sustained post-pandemic recovery to continue.”