1 minute read - 25th March 2024
Aerospace sector sees best delivery month since February 2019
Aircraft deliveries in February were the highest since 2019 with a total of 76 deliveries and a 3% overall increase compared to February 2023. The month has continued to reinforce the anticipated growth in wide-body deliveries with a 7% increase compared to 2023, largely attributed to the return of international long-haul travel.
The latest data from ADS Group, the trade association for aerospace, defence, security and space organisations, shows that the backlog figure in February 2024 is up by 16% compared to February 2023. With 15,657 aircraft on backlog, this is the third largest on record and is estimated to be worth at least £244bn to the UK.
Aircraft deliveries in February were the highest since 2019 – the current aircraft backlog is estimated to be worth £244bn to the UK / Picture: Getty/iStock
Following recent months with a number of significant orders, February 2024 aircraft orders were down 87% from February 2023 with 17 orders placed as 2024 continues at a slow pace. Despite this, ADS says there are expectations that 2024 will see increased demand for more efficient aircraft and the continuation of a strong order book as the sector approaches the Farnborough International Airshow in July.
Aimie Stone, chief economist at ADS, said: “February has remained slow-paced despite expectations that Singapore International Airshow would see a boost for aircraft orders. UK industry waits for the return of Farnborough International Airshow this summer, which will be a catalyst for the aerospace and defence trade in the UK. An increase in activity and announcements is expected post and prior to the airshow.”
