The pace at which new aircraft are delivered has slowed dramatically, firstly during the Covid-19 pandemic and since then, because of ongoing supply chain challenges.
Deliveries plummeted by 50% in 2020 compared to the peak seen in 2018, and the global backlog climbed to 17,000 aircraft in 2023. As a result, the average age of the global fleet increased by over 18 months over the past 5 years, from just over 13 years in 2018 to 14.6 years in 2023.
The drop in deliveries is in stark contrast to the orders placed for new aircraft, which have risen sharply. In the single year of 2023, as many as 4,745 aircraft were added to order books.
