2 minute read - 30th January 2024
Record breaking year in 2023 for aircraft orders with deliveries at five year high
2023 marked a record-breaking year for aircraft orders, with deliveries reaching a five-year high, according to the latest figures from ADS, the trade association for the aerospace, defence, security and space sectors. A total of 3,850 aircraft orders were placed in 2023 which is a global record for commercial aircraft, according to ADS records which began in 2010.
Deliveries of new aircraft reached 1,265 in 2023, marking an 11% increase on 2022 figures and the highest delivery pace since 2018 – a further indication of growth in the buoyant aviation sector.
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A total of 3,850 aircraft orders were placed in 2023 which is a global record for commercial aircraft – all wings on Airbus commercial aircraft are designed in the UK, with the majority built in North Wales / Picture: Airbus
Following five months of consecutive growth, a backlog of 15,753 aircraft is the largest on record, a 16% increase year-on-year, and far above the annual growth trends seen in recent years. The current backlog is estimated to be worth at least £244bn to the UK at current production rates and aircraft prices, and represents almost thirteen years’ worth of work.
ADS figures highlight that aircraft orders increased 91% in 2023 compared to 2022, with single-aisle aircraft orders increasing 78% and wide-body orders rising 169% respectively. A total of 352 aircraft cancellations were seen in 2023, which is the fewest in a year since 2018.
Aimie Stone, chief economist at ADS, said: “With a record-breaking year, December 2023 saw the highest order books for the month since 2017, alongside the largest deliveries. This stronger than expected December signals the best on record Q4 for both orders and deliveries since 2018. This surge in activity sees deliveries surpass the ADS forecast, highlighting the continued buoyancy of the sector and defiance against supply chain challenges. As we head into a Farnborough International Airshow year, domestic and international attention will be elevated on the sector to continue this record growth and the ability of the supply chain to meet demand.”
The current backlog is estimated to be worth at least £244bn to the UK at current production rates – Rolls-Royce in Derby manufactures the world’s most efficient large aero engine in service, the Trent XWB / Picture: Rolls-Royce
Nusrat Ghani MP, minister for industry and economic security, added: “Delivering on growing the economy is one of the Prime Minister’s key economic priorities. As Aerospace Minister, I am absolutely thrilled to see that the aerospace sector has had such a record-breaking year for orders and deliveries, helping us well on the way to achieving our goal with orders up 91% year on year. The UK aerospace sector is world-leading and this is yet another vote of confidence in our work.”
