1 minute read - 2nd January 2024
Record backlog shows buoyancy of aerospace sector
For the fourth consecutive month, the aircraft order backlog in November hit record highs, totalling almost 15,000, according to the latest data from ADS Group. It represents a huge 354% increase on November 2022’s figures for orders placed in November 2023, with a 10% year-on-year growth in the backlog.
The data also shows 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 with 586 wide-body orders placed year-to-date.
Order backlogs for aircraft and engines have hit another record high, highlighting the positive outlook for the aerospace sector – the backlog is estimated to be worth around £234bn to the UK / Picture: Getty/iStock
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Aircraft deliveries are up 3% on the same month in 2022, with 120 deliveries made in 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 £234bn to the UK’s aerospace sector, according to ADS.
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 recognised and addressed.”
