1 minute read - 4th September 2023
Aerospace sector records best July for five years
Following a record-breaking first half of 2023, the UK’s aerospace sector continues to be in good health, according to the latest data from ADS, the trade association for aerospace, defence, security and space organisations.
The data shows that 691 aircraft have been delivered in 2023 to date, with 109 of those delivered in the month of July. This marks the best July since 2018, as the aerospace sector continues its post-pandemic recovery.
Year-to-date, 1,179 aircraft orders have been placed, including 112 orders placed in July, which ADS said was a healthy order number following the record-breaking orders made at Paris Airshow in June. So far in 2023, there have been 136 cancellations of aircraft, 68% down compared to 2022 (as a full year) and it added that is an indication of carriers holding firm on the choices of aircraft previously made.
The aerospace sector recovery continues with the best July recorded since 2018 – the current order backlog of over 14,000 aircraft has a value of £219bn to the UK / Picture: Getty/iStock
The backlog of aircraft orders continues to be above pre-pandemic levels, and compared to July 2022, grew seven per cent to 14,462 aircraft. At current production rates, the aircraft order backlog represents more than seven years’ worth of work and a value of £219bn to the UK.
Aimie Stone, chief economist at ADS, said: “With the aircraft order backlog remaining above pre-pandemic levels and continuing to grow, the long aircraft lead times from order to delivery means decision makers can take charge to enhance innovation. The backlog will enable future aircraft to become more efficient and sustainable, with UK industry having a unique opportunity to identify, accelerate and develop more efficient and sustainable aircraft technologies.”