According to French jet engine manufacturer Safran, soaring demand for aerospace supplies can’t be met in 2023 and likely will last until 2024. High demand from airlines is pushing supply chains beyond their capacity. The Financial Times reports:
French jet engine maker Safran has warned that the “unprecedented crisis of supply” in the aerospace industry will stretch into next year as aircraft manufacturers struggle to source the parts and staff they need to keep up with resurgent demand.
Safran’s chief executive Olivier Andriès told the Financial Times there had been no let up in supply chain problems dogging the industry since the Covid-19 pandemic as well as the Russia’s invasion of Ukraine that caused shortages of raw materials.
“We have to fight every day to get the parts. This is true for Safran and also the whole industry,” Andriès said in an interview. “We’ve gone from an unprecedented crisis of demand back in 2020. Now demand is back but we are in an unprecedented crisis of supply. We have never seen this before,” he added.
Others in the industry are also facing similar headwinds, with Airbus warning of supply chain constraints lasting until 2024, as airlines rush to order new aircraft to meet high travel demand.
Andriès added the constraints would likely last into 2024, limiting the speed at which the sector can further increase production. “I would like to say it’s going to be over in three months. But this is not true . . . it is going to last,” he said.
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