According to the latest data from ADS, Q2 2022 has maintained steady levels of recovery in market confidence, with 728 global aircraft orders placed and single-aisle orders continuing to drive market recovery.
During the first half of 2022, there were 513 aircraft deliveries, the most since 2019 and an overall increase of 13.2% on the same period in 2021, indicating that supply chain pressures are easing in aircraft manufacturing and businesses are stabilising post-Covid.
Mark Nisbett, partner and head of aerospace and defence at RSM UK, comments: ‘The latest ADS data shows that confidence in the aerospace industry is increasing, as the market starts to pick up following disruption to global supply chains over the last couple of years. Similarly, consumer confidence is also growing, with UK flight arrivals and departures maintaining their upward trend since February 2022, and now only 15% below 2019 levels. We can expect this upward trend to continue during the summer holidays, provided airport infrastructure continues to improve and doesn’t cause further airline travel disruption over and above what’s already flagged.
‘Growing industry confidence was also apparent at the Farnborough International Airshow which returned, for the first time in three years, last week. The event was a real boost for the industry, reconnecting manufacturers from across the world to engage in conversations relating to ESG, new greener and cleaner technologies, and long-term growth strategies. The announcements around the government’s ‘Jet Zero’ strategy, with further investment, were also welcome.’
He added: ‘As a firm, we had the opportunity to participate in a roundtable discussion at the airshow on ESG solutions and reporting, which highlighted the challenges still ahead for the aerospace sector in this area. This reinforces the need for urgent decision-making on policy and legislation, in order to unlock investment and drive forward decarbonisation in the aviation industry.’