Farnborough International Airshow contributes to highest July aircraft orders since 2014
- Sector recovery continues with July seeing the highest number of aircraft orders in a single month since 2014.
- A total of 531 aircraft orders were placed in July 2022, worth £5.5 billion to the United Kingdom.
Global aircraft orders for July 2022 saw a very strong month, with 526 single-aisle and five wide-body aircraft ordered.
The strong order numbers were driven by announcements made at Farnborough International Airshow, the UK’s largest tradeshow and the first major European Airshow to return since 2019. During the airshow week 277 aircraft were ordered and later in July, one East Asia country placed a large order which accounts for circa 80 per cent of the July order book. The high order numbers are a significant indication of the continued global aviation sector recovery in market demand and confidence.
Manufacturers delivered 72 aircraft during the month, taking total deliveries this year to 585 aircraft as the global aerospace industry makes progress towards an ADS forecast of 997 commercial aircraft deliveries by the end of the year. While deliveries showed a slight four per cent decline compared to the month of July 2021, this can be attributed to summer shutdowns, holidays, and altered working patterns following recent rate ramp up announcements.
With year-to-date aircraft orders the largest for the first seven months of the year since 2014, the backlog of aircraft orders remains above 13,000. The current backlog of 13,460 aircraft in July 2022 could be worth up to £209 billion to the UK aerospace industry.
UK flight departures and arrivals have levelled off at 15 per cent down on pre-pandemic statistics, these consistent and stable levels remain encouraging given reports of a challenging airport operating environment and some international travel restrictions remaining in place at this time.
ADS Chief Executive, Kevin Craven said:
“July saw the more than 500 aircraft orders, the highest since 2014 as the market continues to recover from the challenges of the last two years and ongoing supply chain disruption.
“Many of these orders were announced at Farnborough International Airshow, where the UK welcomed the world’s aerospace, defence, and space industries to meet, discuss and lay out plans to address the pressing issues of industry, including net zero by 2050.
“There is opportunity for the global ambition of trans-Atlantic net zero flight to be spearheaded by the UK, accelerating sector recovery and net zero by 2050. Government and industry must work together to ensure the UK’s net zero services, technologies, and capabilities are fully realised.”