Global aerospace industry hit by coronavirus

The global aerospace industry has taken a hit from the coronavirus outbreak as only 18 aircraft, all of which were widebody, were ordered in February.

296 orders were taken in January, leaving the year-to-date overall orders remaining positive.

The aircraft order backlog remains above 14,000 aircraft, demonstrating at least eight years of work-in-hand and worth up to £210 billion to the UK, providing some long-term confidence for the industry despite continuing political uncertainty and new challenges in 2020 with the Covid-19 pandemic.

Aircraft deliveries are being impacted by a variety of factors, with record low deliveries for February 2020 of 72 aircraft. From next month, direct impacts of coronavirus on aircraft orders and deliveries will start to be seen, and year-on-year comparisons will show the impact of the global pandemic.

As coronavirus takes its toll on the global ecomomy, some of the UK’s world-leading aerospace manufacturers are using their skills in producing complex and precision-engineered equipment to contribute to production of ventilators for the NHS.

ADS chief executive, Paul Everitt said: “We are doing all we can to ensure our aerospace supply chains have the protection and support that they need to get them through the Covid-19 global pandemic so that they can continue to manufacture world-class products and equipment.

“Many companies will face significant challenges and it is essential that support announced by the government should be made available to affected businesses quickly, protecting jobs and the prosperity of communities across the country. In the months ahead, we will also need to explore how best to support companies on the journey back to stability and growth.”

www.adsgroup.org.uk