The aerospace industry is showing signs of recovery, with a record-breaking 1,667 aircraft orders placed in the first half of 2023, reports ADS. This represents a 129% increase on the same period in 2022, and is the most successful H1 for aircraft orders since ADS records began in 2010.
The strong order book is being driven by demand for single-aisle aircraft, with 1,398 orders placed so far this year. This is the highest number of single-aisle aircraft orders on record.
The backlog of aircraft orders has also grown, reaching 14,462 aircraft in H1 2023. This represents more than 10 years’ worth of work and a value of £218 billion to the UK.
In addition to strong order numbers, aircraft manufacturers have also been delivering more aircraft in recent months. In H1 2023, 582 aircraft were delivered, an overall increase of more than 13% on the same period in 2022.
This positive news is tempered by some concerns about supply chains. In Q2 2023, half of ADS members identified inflation as having a significant impact on their ability to grow, with the same proportion concerned about the costs of raw materials and inputs.
Despite these challenges, the aerospace industry is showing signs of recovery. ADS CEO Kevin Craven said: “The roaring aircraft orders made during H1 2023 are a very welcome sign of increasing confidence in the sector. Separately, growth in delivery figures support our ADS expectations of a return to pre-pandemic levels of manufacturing in 2024.”
Craven adds some caution, “For UK industry to fully realise the manufacturing potential offered by the strong aircraft backlog and record order book seen at H1 2023, roadblocks – including supply chain issues and labour shortages affecting growth – need to be addressed. In the coming months, ADS will continue to work with our industry and political stakeholders to ensure focus on the current issues affecting the aerospace sector.”
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