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UK aerospace sector soars to new heights
The UK’s aerospace sector is soaring to new heights, with a record-breaking first half of 2023 and a healthy order book for the rest of the year.
A new report from ADS, the trade association for aerospace, defence, security, and space organisations, shows that 1,179 aircraft orders have been placed so far in 2023, with 112 orders placed in July alone. This is a significant increase compared to the same period last year when only 885 aircraft orders were placed.
The report also shows that the delivery of aircraft is also on the rise, with 691 aircraft delivered in 2023 to date. This is the best July since 2018 and is a sign that the aerospace sector is continuing its post-pandemic recovery.
The strong order book is a major boost for the UK economy, as it represents more than seven years’ worth of work and a value of £219 billion. It also shows that the UK is still a major player in the global aerospace industry.
Aimie Stone, Chief Economist at ADS, said: “The strong order book is a testament to the resilience of the UK aerospace sector. The long lead times from order to delivery mean that decision-makers have the opportunity to enhance innovation, and the UK has a unique opportunity to lead the way in developing more efficient and sustainable aircraft technologies.”
The UK aerospace sector is home to some of the world’s leading aerospace companies, including Rolls-Royce, BAE Systems, and Airbus. The sector employs over 200,000 people in the UK and contributes £30 billion to the economy each year.
The strong performance of the UK aerospace sector is a welcome boost for the UK economy and is a sign that the sector is well-placed to continue to grow in the years to come.
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