Aerospace industry delivers new aircraft at record-breaking rate
This latest data shows the total order backlog remains strong despite a slowdown in orders in October, growing by 36% since the start of 2012. This significant backlog is estimated to be worth up to £165bn to the UK economy.
The record-breaking rate of aircraft delivery, which is currently tracking at around five per cent higher than the same period last year, is being driven by an increase in widebody production rates: 25 more widebody aircraft have delivered to customers around the world so far this year than during the same period last year.
Paul Everitt, chief executive of aerospace trade organisation, ADS Group commented: “New aircraft and engine deliveries are running 5% ahead of 2013, demonstrating strong demand and continued growth in the strategically important civil aerospace market. Whilst orders are down slightly on last year the backlog continues to grow and is giving businesses the confidence they need to step up their investment in capability and capacity.
“As we look towards the year ahead, our priority will be to continue working with Government through the Aerospace Growth Partnership to maximise the opportunities for UK industry at all levels of the supply chain. Global competition is fierce and targeted support for innovation, exports and skills is making a real difference, particularly for UK SMEs.”
By 2032 it is estimated that more than 29,000 new large civil airliners, 24,000 business jets, 5,800 regional aircraft and 40,000 helicopters will be required. The UK specialises in the development and manufacture of some of the most complicated and high tech parts of modern aircraft, so this requirement means a potential market share of around $600bn for the UK. To maximise the opportunity, Industry is working closely with government through the Aerospace Growth Partnership to implement a strategy to encourage Research and Technology, accelerate innovation, drive exports and support the supply chain.
