Orders Stay High as Aerospace Sees Sustained Growth
- Backlog of commercial aircraft orders remains above 14,000 for the third successive month.
- February sees a strong month for wide-bodies with 41 orders worth up to £1.9bn to UK industry, and 23 deliveries.
- Forecast production record for 2018 fuels expectations for rising delivery rates to come.
Manufacturers saw the numbers of aircraft on order books stay close to record highs again in February, with the backlog now standing at 14,242 – just 70 below the record high set in December 2017.
A nine per cent year-on-year increase in the order backlog of single aisle aircraft shows sustained growth in orders, while the total backlog could be worth an estimated £203bn to UK industry.
Deliveries in the first two months of 2018 fell below the pace set last year, despite industry expectations of an eighth consecutive annual record for deliveries to come this year.
However, February saw 23 wide-body deliveries, worth more than £1bn to the UK, while overall deliveries of 159 commercial aircraft so far this year are worth up to £3bn to UK industry.
ADS Chief Executive Paul Everitt said:
“The aerospace industry is seeing strong and sustained demand from customers for new, efficient and technologically advanced aircraft.
“Here in the UK we are well equipped to deliver these modern aircraft and global demand can see the contribution of this industry to national prosperity continue to rise.
“However, fierce competition in the global marketplace means we must continue to invest in our industrial productivity and competitiveness, and make sure we do not face new barriers to trade with Europe, which remains our largest export market.”