The total deliveries from January to March 2019 are worth up to an estimated £6.5 billion to UK industry, while the global industry’s total order backlog of 14,107 aircraft could be worth up to £215 billion to the UK economy as they are produced in the coming years.
ADS Group has forecast another new record to be set this year, ahead of the production mark of 1,618 aircraft set in 2018.
However, with a range of factors having an impact on the aerospace and aviation market in 2019, the industry faces challenges in achieving a ninth consecutive annual record.
ADS chief executive Paul Everitt said: “The aerospace industry has set its sights on another record year for aircraft production, fuelled by strong international demand for modern, technologically advanced and fuel-efficient aircraft.
“Production has so far kept pace with a record 2018, but global challenges are generating headwinds for the global aviation and aerospace industries. In Europe Brexit uncertainty is increasing supply chain costs, international trade disputes risk new tariffs and cost-conscious travellers are challenging airline profitability.
“We expect another year of impressive aircraft production by historical standards, but the sector’s ambitious targets for 2019 set a stiff test for the global industry.”