Safran LEAP engine deliveries catch up with Airbus production plans

Safran LEAP engine

Safran LEAP engine deliveries are accelerating as the French aerospace manufacturer races to align output with Airbus’ build rates. Safran LEAP engine deliveries reached 511 units in the third quarter, up 40pc year on year, pushing total shipments for the first nine months to 1,240 units. As a result, Safran now expects full-year Safran LEAP engine deliveries to grow by more than 20pc over 2024, implying that annual volumes could comfortably exceed 1,688 units.

Safran LEAP engine deliveries underpin Airbus narrowbody ramp-up

Safran’s LEAP delivery surge is closely tracking Airbus’ recovery in A320 family output after earlier engine shortages curbed assemblies. Higher third-quarter engine availability allowed Airbus to step up A320 deliveries, while Safran simultaneously increased shipments of key structures such as landing gear and nacelles. Deliveries of A320 landing-gear sets rose to 166 units in the quarter, and A320neo nacelles climbed to 186, underscoring how Safran is scaling its integrated narrowbody footprint. Meanwhile, discussions between Safran and Airbus on rate 75 for 2026–27 confirm that both companies share a common view on higher long-term production rates and the need for stable LEAP supply.

Trade uncertainty remains a risk despite strong aftermarket tailwinds

However, Safran still faces a complex trade environment even as operational performance improves. Recent EU-US tariff arrangements and efforts to secure eligibility under the US-Mexico-Canada Agreement have reduced some customs-related risks, but flows between China and the US — and persistent section 232 tariffs on aluminium, steel and copper — remain key concerns for the group. At the same time, Safran’s services and spares business continues to deliver robust growth as airlines keep aircraft in service longer and shop visits intensify. As a result, Safran has raised its services revenue guidance to low-to-mid 20pc percentage growth, helping lift total third-quarter revenue by 18.3pc to €7.85bn and providing an important buffer against macro and trade headwinds.

The Metalnomist Commentary

Safran LEAP engine deliveries are emerging as a critical bottleneck solution for Airbus as both sides push toward higher narrowbody build rates. For the wider metals and aero-supply chain, the combination of rising LEAP volumes, strong aftermarket work and persistent trade frictions will keep demand firm for high-spec nickel alloys, titanium and precision forgings. Suppliers that can manage tariff exposure while reliably meeting OEM schedules are likely to secure long-term, higher-margin positions in this extended aerospace upcycle.