2013 proved to be a record year for the global commercial aircraft industry. Global demand for new aircraft and engines is generating new demand and opportunity
for the UK aerospace industry.
- Deliveries: 1,274 new aircraft deliveries in 2013, the third consecutive annual record.
- Orders: gross orders up over 28 per cent to a record 3,182 (2,887 net).
- Engines: Record 2,646 large civil jet engines delivered in 2013, with backlog of nearly 20,000.
What do all these records mean for the UK industry?
In terms of the actual deliveries of commercial aircraft in 2013, that generated around £18bn – £20bn in revenue for UK companies. (Note this value will also include UK-made engines).
Over the longer-run, the record orders in 2013 could mean an additional £36bn – £41bn in extra revenue for the UK industry over the next decade or so, even if there are no more new aircraft orders ordered over that time.
The record orders also means that the capacity constraints we saw in 2013 are likely to persist through the next couple of years.
Which is why unlocking business investment is important not just to the economic recovery, but keeping the UK competitive in the fast growing global commercial aircraft market.