UK aerospace industry continues to ramp up production

Aerospace trade organisation, ADS Group, said the increased rate of production means that deliveries so far this year were estimated to be worth around £10billion to the UK economy. The data also revealed a record monthly aircraft backlog figure, which now stands at almost 11,500 aircraft. This backlog is equivalent to around nine years work in hand, offering a stable foundation for the UK sector to continue to build its success as the European market leader. The increasing global demand was reinforced by record aircraft orders placed at the recent Farnborough International Airshow. The orders, totalling $201bn, of which $152bn are for aircraft, will deliver around £18bn to the UK economy. Paul Everitt, chief executive of ADS Group 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. Industry and Government are also continuing their close partnership through the Aerospace Growth Partnership to encourage increased investment in skills, technology and the supply chain. "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."