Middle East: Direction Finding Compass Market 2024

Direction Finding Compass Market Size in the Middle East

In 2023, the Middle Eastern direction finding compass market increased by X% to $X, rising for the second year in a row after two years of decline. Overall, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2023, the growth of the market remained at a lower figure.

Direction Finding Compass Production in the Middle East

In value terms, direction finding compass production declined to $X in 2023 estimated in export price. In general, production recorded a mild shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, production reached the peak level of $X. From 2020 to 2023, production growth remained at a somewhat lower figure.

Direction Finding Compass Exports

Exports in the Middle East

In 2023, approx. X units of direction finding compasses were exported in the Middle East; rising by X% on the previous year's figure. Overall, exports, however, saw a perceptible descent. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X units. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, direction finding compass exports surged to $X in 2023. Over the period under review, exports posted modest growth. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

Exports by Country

In 2023, the United Arab Emirates (X units) was the major exporter of direction finding compasses, creating X% of total exports. It was distantly followed by Turkey (X units), Israel (X units) and Bahrain (X units), together creating a X% share of total exports. Jordan (X units) and Lebanon (X units) followed a long way behind the leaders.

Exports from the United Arab Emirates decreased at an average annual rate of X% from 2012 to 2023. At the same time, Bahrain (X%), Lebanon (X%), Jordan (X%), Israel (X%) and Turkey (X%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Israel, Bahrain, Turkey, Jordan and Lebanon increased by X, X, X, X and X percentage points, respectively.

In value terms, Turkey ($X) remains the largest direction finding compass supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by Israel ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Turkey stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Israel (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2023, the export price in the Middle East amounted to $X per unit, growing by X% against the previous year. Overall, the export price showed a measured increase. The most prominent rate of growth was recorded in 2013 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2014 to 2023, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per unit), while Lebanon ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced more modest paces of growth.

Direction Finding Compass Imports

Imports in the Middle East

Direction finding compass imports surged to X units in 2023, increasing by X% against the previous year. In general, imports posted a strong increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2023 and are expected to retain growth in years to come.

In value terms, direction finding compass imports soared to $X in 2023. Total imports indicated a moderate increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2021 indices. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Turkey (X units) and the United Arab Emirates (X units) represented the largest importers of direction finding compasses in the Middle East, together reaching approx. X% of total imports. It was distantly followed by Israel (X units), generating a X% share of total imports. Iran (X units) took a little share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Turkey (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest direction finding compass importing markets in the Middle East were Turkey ($X), the United Arab Emirates ($X) and Israel ($X), with a combined X% share of total imports.

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

Import Prices by Country

In 2023, the import price in the Middle East amounted to $X per unit, rising by X% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable contraction. The growth pace was the most rapid in 2015 an increase of X% against the previous year. Over the period under review, import prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Turkey ($X per unit), while Iran ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform