The scene of the crash, which saw a military fighter jet crash into cars on the A27, is being searched and more bodies may be found on top of the seven already confirmed dead at the scene.
The road remains closed and is likely to remain so for the next two days.
Jane Derrick, superintendent for Sussex Police said: “Firstly we would like to extend our thoughts to all of those who have been affected by the incident today at Shoreham.
“At around 1.20pm today, a Hawker Hunter jet that had just started its display at the Shoreham Airshow crashed into the A27. There is now an investigation is being led by the Air Accident Investigation Branch.
“It’s early stages.”
The pilot, believed to be experienced flyer Andy Hill, was flown by air ambulance to Royal Sussex County Hospital.
Tomorrow’s flying at the airshow has been cancelled as a result of today’s crash.
The Vulcan conducted a fly past today as a mark of respect to those killed.
Speaking at a press conference at Sussex Police HQ in Lewes this evening, Nick Bunting, of the Royal Air Forces Association (RAFA), said: “On behalf of the RAFA and Shoreham Airshow organisers, our thoughts are with all affected by today’s tragic accident.”
Mr Bunting said it was too soon to say whether the airshow would go ahead in future years.
Emergency services took calls from 40 residents worried about those who may be involved in the crash.
Anyone who thinks their relatives may have been involved should call 01273 470101
Anyone with footage should email [email protected] - contact details should be sent in the first instance, not footage initially.