Aircraft deliveries are the largest since 2019 & 16% increase on February 2023 backlog
- 16% increase on February 2023 with 15,657 aircraft on backlog at the end of February 2024.
- New aircraft deliveries were the largest since 2019 as industry responds to the increased demand for production.
- With 17 orders placed, aircraft orders are down 87% from February 2023.
London (25 March) - Aircraft deliveries are the highest since 2019 with a total of 76 deliveries and a 3% overall increase compared to February 2023. The month has continued to reinforce the anticipated growth in wide-body deliveries with a 7% increase compared to 2023, this is due to the return of international long-haul travel.
A new report from ADS Group, the trade association for aerospace, defence, security and space organisations, highlights that the backlog figure in February 2024 is up by 16% compared to February 2023. With 15,657 aircraft on backlog this is the third largest on record being worth at least £244bn to the UK.
February 2024 aircraft orders are down 87% from February 2023 with 17 orders placed as 2024 continues at a slow pace. Despite this there are expectations that 2024 will see increased demand for more efficient aircraft and continuation of a strong order book as we approach Farnborough International Airshow in July.
ADS Outlook: Anticipated demand for aircraft is set to return
Commenting on these announcements, Aimie Stone, Chief Economist at ADS said:
“February has remained slow-paced despite expectations that Singapore International Airshow would see a boost for aircraft orders.”
“UK industry waits for the return of Farnborough International Airshow this summer, which will be a catalyst for the aerospace and defence trade in the UK. An increase in activity and announcements is expected post and prior to the airshow.”