According to the latest data from ADS, the UK trade organisation representing the Aerospace, Defence, Security and Space sectors, aircraft deliveries are the highest they have been since 2018.
Orders also broke records too with 3,850 new aircraft ordered in 2023, the highest ever recorded since ADS started keeping data.
Sales of single-aisle airliners such as the A320 nd 737 families grew 78% with wide-body sales also increasing such as the A350 and 787 rising 168%.
Backlog of new aircraft is also growing 16% year on year with 15,753 aircraft currently on the books with manufacturers awaiting production and delivery.
The final quarter of 2023 was the busiest for deliveries since 2018 reflecting the continued recovery and growth the aerospace sector following the coronavirus pandemic.
Aimie Stone, Chief Economist at ADS said: “With a record-breaking year, December 2023 saw the highest order books for the month since 2017, alongside the largest deliveries. This stronger than expected December signals the best on record Q4 for both orders and deliveries since 2018.
“This surge in activity sees deliveries surpass the ADS forecast, highlighting the continued buoyancy of the sector and defiance against supply chain challenges. As we head into a Farnborough International Airshow year, domestic and international attention will be elevated on the sector to continue this record growth and the ability of the supply chain to meet demand.”
Speaking about the results Minister for Industry and Economic Security Nusrat Ghani MP said: “Delivering on growing the economy is one of the Prime Minister’s key economic priorities. As Aerospace Minister, I am absolutely thrilled to see that the aerospace sector has had such a record-breaking year for orders and deliveries, helping us well on the way to achieving our goal with orders up 91% year on year.”
“The UK aerospace sector is world-leading and this is yet another vote of confidence in our work. We’re growing the economy and supporting highly-skilled, high-wage careers across the UK, at the same time as boosting the name of UK PLC around the world.”
Order cancellations in 2023 were also the lowest they been in years with just 352 orders being cancelled.