Q1 2024 sees aircraft backlog at a record high, while production challenges cause a lag in deliveries

• Over 300 aircraft placed on order in Q1 of 2024 is a 9% improvement on 2023 figures
• Impact of capacity challenges and delays is reflected in a 12% YoY decrease in aircraft deliveries
• The Aircraft order backlog continues to reach record breaking heights at the end of Q1 2024, while 30,000 engines on firm order reflects increased confidence by manufacturers

London (29 April) – While aircraft orders continue to gain momentum, challenges and kinks with production capacity are causing a downward trend (year on year) in aircraft deliveries.

301 aircraft orders placed in Q1 2024 represents a 9% improvement on the first quarter of 2023, while ADS records highlight that the number of aircraft on backlog order is 17% ahead of 2023, at 15,812. Notably, there are 30,000 aircraft engines on firm order.

The latest report from ADS does not present an overall positive picture, however. The 227 aircraft delivered in Q1 2024 is 12% less than the same quarter of 2023, reflective of production capacity challenges and delivery delays which industry have been reporting since mid-2023.

ADS macro view: A mounting challenge, but not insurmountable – Aimie Stone, Chief Economist at ADS.

At this stage of the year, it’s notable but not hugely concerning to see these year on year dips in the aircraft market.

Industry is not complacent. Challenges associated with rate ramp ups alongside growing skills challenges, supply chain issues, regulatory matters and delivery delays will continue to have an impact.

As highlighted in the ADS Manifesto 2024, in order to effectively combat growing global instability, the UK government must fortify its commitment to our supply chains, form an active – and close – collaboration council with industry, and work across borders to strengthen our trade and export strategy.

Moving throughout 2024, further aircraft announcements primarily hinge on major international events – including changes in administrations in the UK and US. Politics notwithstanding, we would actively anticipate a number of new regulatory and order book announcements at the upcoming Farnborough International Airshow.

ADS Group is the trade association for the aerospace, defence, security and space industries, representing over 1300 members.

ENDS.

Notes to editors

ADS is the UK trade association for the aerospace, defence, security and space sectors, with more than 1,300 member businesses.

More than 90 per cent of ADS members are SMEs.

Order and delivery figures cover reported deliveries of commercial aircraft by Airbus and Boeing.

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 the UK’s aerospace sector is a hub for advanced manufacturing, supporting well-paid jobs across the country and driving decarbonisation through innovation, generating £27 billion in turnover, with value add to the UK economy worth £10.9 billion.

ADS’ Aerospace Outlook further showcases that 90 per cent of the 108,000 jobs in the aerospace sector are located outside of London and the Southeast. In addition, with £101,000 output per worker, aerospace sector productivity is 56 per cent higher than the economy average, delivering strategic advantage for the UK.

Farnborough International, the world-leading exhibition business responsible for Farnborough International Airshow, is a wholly owned subsidiary of ADS Group.