Data released by aerospace trade organisation ADS Group reveals a seven per cent increase in aircraft and engine deliveries in the first half of 2014 compared to the same period last year, highlighting industry’s response to rising global demand as many airlines look to upgrade or grow their fleets. This increased rate of production means that deliveries so far this year are estimated to be worth around £10 billion to the UK economy.

The data also reveals a record monthly commercial aircraft backlog figure, which now stands at 11,462 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.

Increasing global demand has been reinforced by record aircraft orders placed at last month’s Farnborough International Airshow. The orders, totalling £120 billion, of which £90 billion are for new commercial aircraft, will deliver approximately £18 billion to the UK economy.

By 2032 it is estimated that globally more than 29,000 new large civil airliners, 24,000 business jets, 5800 regional aircraft and 40,000 helicopters will be required. The UK specialises in the development and manufacture of some of the most complicated and high-tech parts of modern aircraft, so this requirement means a potential market share of around £360 billion for the UK.

Paul Everitt, Chief Executive of ADS Group, said: “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.”