Aerospace sector thrives with 300 per cent year-on-year increase in orders alongside 40 per cent increase in deliveries

The UK’s aerospace sector continues to be buoyant in the midst of supply chain challenges and a muted Q1 outlook, according to the latest aircraft orders and deliveries report compiled by aerospace trade organisation ADS.

The 146 aircraft orders placed in May 2023 is a 306 per cent increase on the 2022 figures, as the confidence in the UK aerospace sector continues to grow.

Deliveries increased 38 per cent over the same time period.

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The current backlog of aircraft orders is 13,406 aircraft, a positive marker for the health of the sector.

The potential value add of this backlog to the UK economy could exceed £205 billion, representing several years' worth of work.

“The staggering year-on-year increase in aircraft orders highlights growing confidence in the aerospace sector,” said Aimie Stone, Chief Economist at ADS Group.

“While the sector is not expected to reach post-pandemic levels until 2024, the 38 per cent year-on-year growth in aircraft deliveries highlights its resilience and is a positive health check in the midst of increased supply chain challenges.”

May also saw the Paris Air Show 2023 generate aircraft deals worth a projected value of $155bn.

The value of firm aircraft deals to the UK is estimated to be worth up to £13.6bn at published list prices and assumed content of production.

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The latest figures published by ADS Group showcase exports from the UK aerospace sector being worth £18.6 billion in 2022.

It further highlights that businesses in the UK’s aerospace sector generate £27 billion in turnover, with value add to the UK economy worth £10.9 billion.

ADS Group is the UK trade organisation representing the Aerospace, Defence, Security and Space sectors, with more than 1,200 member businesses.