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 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 £244 billion to the UK alone.
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.
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.
ADS is the UK trade association for the aerospace, defence, security and space sectors, with more than 1,300 member businesses.
