Global aircraft orders rise as recovery continues

Global aircraft orders in October 2022 increased compared to previous months, with the 299 aircraft ordered the most for the month since 2019. For the full year to date, aircraft orders are now the largest for the first 10 months of the year since 2014. Single-aisle aircraft continue to dominate both the orderbook and recovery, accounting for 90% of orders placed so far in 2022.

Aircraft deliveries also rose, with 95 aircraft delivered (75 single-aisle and 20 wide-body), a 51% increase on October 2021. Following the high delivery numbers seen in recent months, aircraft deliveries remain in line with the ADS forecast, with 860 deliveries made so far in 2022. Year to date, single-aisle deliveries are 73% ahead of October 2021, and wide-bodies are 14% ahead from the same point of time in 2021.

As global aircraft manufacturer production rate ramp-ups take effect, UK manufacturing data reflects the increase in global demand for aircraft. Following initial rate ramp-ups in May, aerospace manufacturing output data has risen 1% as the global backlog of aircraft orders remains above 13,000.

The backlog of global aircraft orders stands at 13,577, a 7% increase on October 2021, and continues to rise with demand and market confidence. The growing backlog of aircraft represents several years’ worth of work and is estimated to be worth £223 billion to the UK aerospace industry.

Stronger order and delivery books, coupled with a rising backlog seen throughout 2022, continue to be a welcome indication that long-term recovery from the Covid-19 pandemic is progressing.

There is still a long way to go to achieve a full recovery, and it is important that we see continued support for manufacturers to invest in R&D to build a strong foundation for the future. In the UK Government’s recent Autumn Budget, we saw commitments maintained to the rising R&D investment we will need to support the UK’s ambitions as a world leader in advanced manufacturing.

Our aerospace sector is home to some of the most advanced manufacturing techniques, and continued investment in R&D is essential for UK to be a world leader in the development of net-zero technologies for the next generation of green aircraft.