11 Jul 2023
Britain's aerospace sphere thrives from an increase in aircraft orders
Following the latest aircraft orders and deliveries record, it appears that Britain’s aerospace sphere remains to be expanding despite supply chain problems. In May 2023, we saw 146 aircraft line-ups made. This provides a 306% escalation in comparison with 2022 figures. With this, over the same period, deliveries escalated by 38%.
Industry professionals and experts have great confidence that this sector of Britain will persist in growing.
Currently, there is an accumulation of 13,406 aircraft orders. This high number suggests a positive outlook for the aerospace sphere. In addition to this, experts believe there is a potential value added to this accumulation of aircraft orders. The British economy could receive £205 billion in value because of this accumulation.
Seeing such an increase in aircraft orders within the economy each year landmarks the growing confidence in the aerospace sphere.
However, not until 2024 are we expecting to meet post-pandemic levels in the aerospace sphere. Despite this, resilience has been demonstrated within the sector through the 38% growth each year in aircraft deliveries. During increasing supply chain challenges, these stats imply a positive future for the aerospace sector.
May 2023 hosted the Paris Air Show which stimulated aircraft deals amounting to an overall value of 155 billion dollars. With this in mind, aircraft deals within Britain are valued to be worth around 14 billion pounds.
ADS Group is a British trade company that represents the Aerospace, Defence, Security and Space spheres, with more than 1,200 member companies. In 2022, ADS Group exhibited exports from Britain’s aerospace sphere to be valued at nearly 19 billion dollars.
Organisations in Britain’s aerospace sphere can generate a 27 billion pound turnover, adding nearly 11 billion points towards the UK’s overall economy.
How will this impact the British economy?
These figures showcase the significance of the aerospace sector for Britain’s economy. Currently, there is an accumulation of 13,406 aircraft orders in the UK. The British economy could receive £205 billion in value because of this accumulation of orders and deliveries. Such a rise in aircraft orders within the economy each year landmarks the growing confidence in the aerospace sphere for the British economy.
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