Aircraft orders hit new high as demand soars
Aircraft orders hit a record high in the first half of the year, swiftly followed by $201bn (£119bn) of new commitments at July’s Farnborough airshow, data released today reveals.
ADS Group, the aerospace trade organisation, said there was a commercial aircraft order backlog of 11,462 aircraft at the end of the first half of 2014, a new high.
Meanwhile, aircraft and engine deliveries rose seven per cent year-on-year, due to rising global demand as many airlines sought to upgrade or grow their fleets.
The growth in demand was reinforced by record aircraft orders placed at Farnborough.
The orders, which totalled $201bn, would contribute around $30bn to the UK economy, the ADS data said.
“The data from the first half of 2014 confirms the positive outlook for UK aerospace. Industry is working hard to increase output and meet the rising demand and expectations of customers,” said ADS Group’s chief executive Paul Everitt.
“The record number of orders and commitments made at the recent Farnborough international airshow reflect the buoyancy of the market and the continued growth in passenger air traffic.
“The success of industry at the show is positive news for the global aerospace industry, and particularly the UK businesses which play such a significant role in meeting market demand.”
More than 29,000 new large airliners, 24,000 business jets, 5,800 regional aircraft and 40,000 more helicopters will be required by 2032, which ADS claims could contribute around $600bn to the UK economy.
The Farnborough international airshow took place last month and attracted more than 100,000 trade visitors.
But spectators hoping to see the Lockheed Martin F-35B Lightening II jet, which is set to be used on Britain’s new aircraft carriers, were left disappointed.
The entire fleet of F-35s was grounded in the US due to an engine fire in June.