Turbo-Jet (Under 25 kN) Market

The article discusses the expected growth in the global market for turbo-jets with a thrust not exceeding 25 kN, forecasting an upward trend in both volume and value terms from 2022 to 2030. It covers consumption trends, production volumes, import and export figures, and key players in the market. Countries like Russia, Japan, and the United States are highlighted for their significant roles in production, consumption, and exports of turbo-jets in this segment.

Market Forecast

Driven by increasing demand for turbo-jets of a thrust not exceeding 25 kN worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.3% for the period from 2022 to 2030, which is projected to bring the market volume to 518K units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.7% for the period from 2022 to 2030, which is projected to bring the market value to $38.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Turbo-Jets Of A Thrust Not Exceeding 25 kN

In 2022, the amount of turbo-jets of a thrust not exceeding 25 kN consumed worldwide reached 399K units, with an increase of 4.8% compared with the previous year. In general, consumption enjoyed significant growth. Over the period under review, global consumption hit record highs at 423K units in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

The global turbo-jet (under 25 kN) market size amounted to $24.6B in 2022, picking up by 3% 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). Overall, consumption saw significant growth. Over the period under review, the global market attained the peak level at $25.9B in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The country with the largest volume of turbo-jet (under 25 kN) consumption was Russia (371K units), comprising approx. 93% of total volume. It was followed by Japan (11K units), with a 2.8% share of total consumption.

In Russia, turbo-jet (under 25 kN) consumption increased at an average annual rate of +89.1% over the period from 2012-2022.

In value terms, Russia ($22.2B) led the market, alone. The second position in the ranking was held by Japan ($283M).

In Russia, the turbo-jet (under 25 kN) market expanded at an average annual rate of +88.8% over the period from 2012-2022.

In Japan, turbo-jet (under 25 kN) per capita consumption increased at an average annual rate of +3.7% over the period from 2012-2022.

Production

World Production of Turbo-Jets Of A Thrust Not Exceeding 25 kN

In 2022, approx. 399K units of turbo-jets of a thrust not exceeding 25 kN were produced worldwide; picking up by 5.6% compared with the year before. Over the period under review, production enjoyed a significant increase. The pace of growth appeared the most rapid in 2019 with an increase of 1,004% against the previous year. Over the period under review, global production reached the peak volume at 423K units in 2020; however, from 2021 to 2022, production remained at a lower figure.

In value terms, turbo-jet (under 25 kN) production rose slightly to $24.5B in 2022 estimated in export price. In general, production showed a significant expansion. The pace of growth appeared the most rapid in 2019 when the production volume increased by 738% against the previous year. Global production peaked at $25.6B in 2020; however, from 2021 to 2022, production remained at a lower figure.

Production By Country

Russia (371K units) remains the largest turbo-jet (under 25 kN) producing country worldwide, accounting for 93% of total volume. It was followed by Japan (11K units), with a 2.8% share of total production.

From 2012 to 2022, the average annual growth rate of volume in Russia totaled +94.4%.

Imports

World Imports of Turbo-Jets Of A Thrust Not Exceeding 25 kN

In 2022, approx. 6.9K units of turbo-jets of a thrust not exceeding 25 kN were imported worldwide; waning by -45% against 2021. Overall, imports continue to indicate a deep setback. The pace of growth appeared the most rapid in 2021 when imports increased by 94%. Over the period under review, global imports attained the peak figure at 13K units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, turbo-jet (under 25 kN) imports amounted to $1.2B in 2022. In general, imports showed a pronounced setback. The pace of growth was the most pronounced in 2018 when imports increased by 17%. Global imports peaked at $1.6B in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports By Country

The countries with the highest levels of turbo-jet (under 25 kN) imports in 2022 were the United States (995 units), the UK (729 units), Canada (702 units), the Netherlands (568 units), Azerbaijan (457 units), Germany (346 units), China (299 units), Switzerland (241 units), the United Arab Emirates (214 units), Trinidad and Tobago (213 units), Hong Kong SAR (178 units) and Turkey (177 units), together resulting at 75% of total import. France (143 units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Trinidad and Tobago (with a CAGR of +53.2%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($303M) constitutes the largest market for imported turbo-jets of a thrust not exceeding 25 kN worldwide, comprising 26% of global imports. The second position in the ranking was taken by Canada ($144M), with a 12% share of global imports. It was followed by the UK, with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Canada (+41.4% per year) and the UK (+4.7% per year).

Import Prices By Country

The average turbo-jet (under 25 kN) import price stood at $169,132 per unit in 2022, rising by 88% against the previous year. Over the period under review, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($304,879 per unit), while Azerbaijan ($4,818 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+25.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Turbo-Jets Of A Thrust Not Exceeding 25 kN

In 2022, approx. 6.9K units of turbo-jets of a thrust not exceeding 25 kN were exported worldwide; waning by -27.2% on 2021. Overall, exports saw a pronounced contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 54% against the previous year. The global exports peaked at 12K units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, turbo-jet (under 25 kN) exports reduced remarkably to $809M in 2022. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 41% against the previous year. Over the period under review, the global exports attained the maximum at $1B in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports By Country

The shipments of the six major exporters of turbo-jets of a thrust not exceeding 25 kN, namely Canada, the United States, India, Belgium, the UK and Russia, represented more than two-thirds of total export. It was distantly followed by South Korea (317 units), achieving a 4.6% share of total exports. Germany (242 units), Ukraine (224 units), the Netherlands (202 units), France (139 units) and Turkey (123 units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by India (with a CAGR of +43.8%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest turbo-jet (under 25 kN) supplying countries worldwide were Canada ($230M), the United States ($177M) and the UK ($109M), with a combined 64% share of global exports. Ukraine, Germany, France, India, Belgium, South Korea, the Netherlands, Turkey and Russia lagged somewhat behind, together comprising a further 25%.

India, with a CAGR of +146.1%, 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

In 2022, the average turbo-jet (under 25 kN) export price amounted to $116,576 per unit, increasing by 10% against the previous year. Over the period under review, export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, turbo-jet (under 25 kN) export price increased by +47.4% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of 39%. The global export price peaked at $128,474 per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ukraine ($481,340 per unit), while Russia ($821 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+71.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform