Aircraft Market

The market for airplanes and other aircraft is expected to see continued growth in both volume and value over the next eight years. Consumption, production, imports, and exports of aircraft are analyzed to identify key trends and performance indicators in the global market. China emerges as a key player in both consumption and production, while countries like Argentina, Australia, and Singapore show significant growth in imports. The average import and export prices fluctuate over the years, with notable differences among the major importing and exporting countries. Overall, the global aircraft market is forecast to see positive growth in the coming years.

Market Forecast

Driven by increasing demand for airplanes and other aircraft worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.4% for the period from 2022 to 2030, which is projected to bring the market volume to 193K units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.6% for the period from 2022 to 2030, which is projected to bring the market value to $11.7B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Airplanes And Other Aircraft

In 2022, consumption of airplanes and other aircraft was finally on the rise to reach 172K units after four years of decline. The total consumption volume increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak volume and is likely to continue growth in the immediate term.

The global aircraft market revenue skyrocketed to $7.5B in 2022, rising by 30% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $10.5B. From 2018 to 2022, the growth of the global market remained at a lower figure.

Consumption By Country

The country with the largest volume of aircraft consumption was China (127K units), comprising approx. 74% of total volume. Moreover, aircraft consumption in China exceeded the figures recorded by the second-largest consumer, Jordan (7.6K units), more than tenfold. Argentina (6.9K units) ranked third in terms of total consumption with a 4% share.

In China, aircraft consumption remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Jordan (+2.4% per year) and Argentina (+48.9% per year).

In value terms, China ($3.5B) led the market, alone. The second position in the ranking was held by Jordan ($895M). It was followed by Argentina.

In China, the aircraft market remained relatively stable over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: Jordan (-0.8% per year) and Argentina (+42.5% per year).

In 2022, the highest levels of aircraft per capita consumption was registered in Jordan (735 units per million persons), followed by Argentina (148 units per million persons), Australia (119 units per million persons) and China (89 units per million persons), while the world average per capita consumption of aircraft was estimated at 22 units per million persons.

From 2012 to 2022, the average annual growth rate of the aircraft per capita consumption in Jordan was relatively modest. In the other countries, the average annual rates were as follows: Argentina (+47.4% per year) and Australia (+25.8% per year).

Production

World Production of Airplanes And Other Aircraft

In 2022, production of airplanes and other aircraft decreased by -0.1% to 160K units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 35% against the previous year. As a result, production attained the peak volume of 267K units. From 2018 to 2022, global production growth failed to regain momentum.

In value terms, aircraft production amounted to $6.5B in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 5.2% against the previous year. Global production peaked at $6.9B in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Production By Country

China (128K units) constituted the country with the largest volume of aircraft production, accounting for 80% of total volume. Moreover, aircraft production in China exceeded the figures recorded by the second-largest producer, Jordan (7.6K units), more than tenfold. The third position in this ranking was held by India (5.3K units), with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: Jordan (+2.4% per year) and India (+1.0% per year).

Imports

World Imports of Airplanes And Other Aircraft

In 2022, after two years of growth, there was significant decline in purchases abroad of airplanes and other aircraft, when their volume decreased by -21.9% to 24K units. Over the period under review, imports, however, posted a strong increase. The growth pace was the most rapid in 2017 when imports increased by 103% against the previous year. Global imports peaked at 31K units in 2021, and then contracted rapidly in the following year.

In value terms, aircraft imports fell notably to $1.1B in 2022. Overall, imports, however, continue to indicate a measured expansion. The most prominent rate of growth was recorded in 2017 with an increase of 135% against the previous year. Over the period under review, global imports reached the peak figure at $2.1B in 2021, and then fell notably in the following year.

Imports By Country

In 2022, Argentina (6.9K units), distantly followed by Australia (3.4K units), Brazil (3.1K units) and the Philippines (1.8K units) represented the major importers of airplanes and other aircraft, together generating 64% of total imports. Ukraine (661 units), India (615 units), the United States (531 units), Germany (509 units), the Netherlands (508 units), the UK (376 units) and Singapore (373 units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to aircraft imports into Argentina stood at +48.9%. At the same time, Singapore (+51.1%), the Philippines (+45.8%), Ukraine (+27.5%), the Netherlands (+23.8%), Australia (+22.3%), India (+20.9%), Germany (+11.4%), the UK (+8.5%), the United States (+3.2%) and Brazil (+1.5%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in the world, with a CAGR of +51.1% from 2012-2022. From 2012 to 2022, the share of Argentina, Australia, the Philippines and Ukraine increased by +27, +8.8, +7.1 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ukraine ($203M), Brazil ($121M) and the United States ($118M) were the countries with the highest levels of imports in 2022, with a combined 39% share of global imports. The Philippines, Australia, Germany, Argentina, the UK, the Netherlands, India and Singapore lagged somewhat behind, together accounting for a further 28%.

Among the main importing countries, the Philippines, with a CAGR of +60.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average aircraft import price stood at $47,796 per unit in 2022, reducing by -31.8% against the previous year. In general, the import price continues to indicate a deep contraction. The pace of growth was the most pronounced in 2021 an increase of 36%. Global import price peaked at $93,593 per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Ukraine ($307,531 per unit), while Argentina ($4,604 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+10.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Airplanes And Other Aircraft

In 2022, shipments abroad of airplanes and other aircraft decreased by -80.9% to 12K units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, saw resilient growth. The growth pace was the most rapid in 2015 when exports increased by 245%. Over the period under review, the global exports reached the maximum at 134K units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, aircraft exports fell markedly to $727M in 2022. In general, exports, however, saw a temperate expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 122% against the previous year. As a result, the exports reached the peak of $2.2B. From 2016 to 2022, the growth of the global exports remained at a somewhat lower figure.

Exports By Country

The biggest shipments were from Thailand (1,657 units), France (1,168 units), China (1,037 units), the Netherlands (855 units), Russia (683 units), Italy (665 units), Tajikistan (650 units), Singapore (596 units) and Poland (446 units), together recording 66% of total export. The following exporters - the Czech Republic (288 units), Germany (278 units), South Korea (272 units) and Australia (265 units) - each finished at a 9.4% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Singapore (with a CAGR of +56.0%), while the other global leaders experienced more modest paces of growth.

In value terms, Germany ($109M), Italy ($94M) and the Czech Republic ($46M) constituted the countries with the highest levels of exports in 2022, with a combined 34% share of global exports. France, the Netherlands, Poland, Australia, South Korea, China, Singapore, Russia, Thailand and Tajikistan lagged somewhat behind, together accounting for a further 13%.

South Korea, with a CAGR of +55.0%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average aircraft export price stood at $62,200 per unit in 2022, jumping by 168% against the previous year. In general, the export price, however, recorded a abrupt setback. The growth pace was the most rapid in 2018 when the average export price increased by 228%. Over the period under review, the average export prices attained the maximum at $114,172 per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($392,933 per unit), while Tajikistan ($148 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+14.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform