1 minute read - 28th February 2024
Significant aircraft backlog reflects continued strength of aerospace sector
Following the record breaking year in 2023 for aircraft orders, 15,716 aircraft currently sit on backlog order at the end of January 2024, a 16% increase on January 2023. The figures released by ADS Group, the UK’s trade association for the aerospace, defence, security and space sectors, set the tone for a strong work year ahead, with the backlog set to be worth £244bn to the UK.
January 2024 deliveries of new aircraft remain aligned to this time last year, with 58 deliveries made. Single-aisle aircraft continue to dominate the delivery trend accounting for 93% of deliveries made in January 2024. However, an order boost for wide-body aircraft looks to confirm a trend and return of long-haul travel demand with this month representing the best January on record for wide-body aircraft orders.
A significant backlog of 15,716 aircraft shows the continued strength of the aerospace sector – the backlog is estimated to be worth £244bn to the UK / Picture: Getty/iStock
ADS says in its outlook that the significant backlog reflects the continued strength of the aerospace sector, but there was a need to combat challenges facing the industry.
Aimie Stone, chief economist at ADS, said: “Following a record-breaking December 2023, January’s order figures, while lower than this time last year, still represent significant workshare for the UK and a slow and steady start to 2024. With the Singapore Airshow reaching a conclusion in late February, and looking ahead to Farnborough International Airshow in the summer, it is imperative that political stakeholders reinforce their support to our pivotal sector as we continue to combat supply chain challenges.”
