UK Aerospace on track for record year of growth

The UK aerospace industry has continued its solid start to 2017 with figures released today showing recorded deliveries of 100 aircraft in February with a value of up to £2bn to the nation’s economy.

A strong performance in February brings the total number of delivered aircraft to customers in 2017 to 169, just four below the total achieved by UK aerospace in the first two-months of a record-breaking 2016.

Orders of 43 aircraft recorded during the month helped to keep the number of aircraft on manufacturers order books at the third highest level ever recorded for civil aerospace – 13,400 worth around £220bn.

Paul Everitt, chief executive of ADS Group, which represents companies in the UK aerospace, defence, security and space sectors, commented: “Today’s figures demonstrate continued success for the UK aerospace industry and good prospects for the rest of 2017. The industry is looking to build on 2016’s record year for deliveries, as all major aircraft companies look to increase their production rates.

“This week the government intends to trigger Article 50, starting a two-year process to determine the UK’s exit terms from the European Union. It will be vital for industry and government to work together to secure a good deal, one that gives companies in our sectors the confidence to invest and create more high value jobs in every region of the UK.”

February’s results came off the back of solid start to 2017, with 69 new aircraft coming off the production line in January, representing up to £1.4bn for the economy. Although these figures contrast with an exceptional December 2016, when 181 new aircraft were produced, they represent a realistic January delivery rate and resilience to the challenge of a record-breaking finish to the previous year.

British Aerospace in the spotlight:

  • More than 128,000 direct jobs, and 140,000 indirect jobs
  • £31bn annual turnover
  • 30% productivity growth in the past five years
  • 39% growth since 2010
  • 18% global market share – largest in Europe and second globally only to the US
  • 90% of turnover to export markets – worth £26bn to the UK economy
  • Almost a decade’s worth of work in hand, with an order book of more than 13,000 aircraft worth up to £195bn to the UK economy

(Information courtesy of www.adsgroup.org.uk)