Aircraft Propeller Market

The article provides an in-depth analysis of the global market for propellers and rotors used in civil non-powered aircraft, helicopters, and airplanes. It discusses consumption trends, market performance, production volumes, import and export data, and key players in the industry. The forecast predicts a steady increase in market volume and value over the next eight years, with expected growth rates in consumption, production, imports, and exports. Key countries such as Austria, Spain, and Japan are highlighted as major players in the market, with insights into their consumption, production, and import/export trends. The article also covers average prices per ton of propellers exported and imported, showcasing differences among major exporting countries. Overall, the analysis provides valuable insights into the dynamics of the global aircraft propeller market.

Market Forecast

Driven by increasing demand for propellers and rotors for civil non-powered aircraft, helicopters and aeroplanes 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 +3.1% for the period from 2022 to 2030, which is projected to bring the market volume to 7.3K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.4% for the period from 2022 to 2030, which is projected to bring the market value to $2.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Propellers And Rotors For Civil Non-Powered Aircraft, Helicopters And Aeroplanes

After three years of growth, consumption of propellers and rotors for civil non-powered aircraft, helicopters and aeroplanes decreased by -17.2% to 5.7K tons in 2022. Over the period under review, the total consumption indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +63.2% against 2018 indices. As a result, consumption reached the peak volume of 6.9K tons, and then declined significantly in the following year.

The global aircraft propeller market value shrank significantly to $1.8B in 2022, which is down by -26.3% 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). In general, consumption, however, posted buoyant growth. As a result, consumption reached the peak level of $2.5B, and then shrank dramatically in the following year.

Consumption By Country

Austria (2.4K tons) constituted the country with the largest volume of aircraft propeller consumption, accounting for 42% of total volume. Moreover, aircraft propeller consumption in Austria exceeded the figures recorded by the second-largest consumer, Spain (577 tons), fourfold. The third position in this ranking was held by the UK (245 tons), with a 4.3% share.

In Austria, aircraft propeller consumption expanded at an average annual rate of +15.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Spain (+35.8% per year) and the UK (+2.4% per year).

In value terms, Austria ($772M) led the market, alone. The second position in the ranking was taken by Spain ($186M). It was followed by Japan.

In Austria, the aircraft propeller market expanded at an average annual rate of +19.5% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: Spain (+40.4% per year) and Japan (-2.7% per year).

In 2022, the highest levels of aircraft propeller per capita consumption was registered in Austria (267 kg per 1000 persons), followed by Spain (12 kg per 1000 persons), the Netherlands (11 kg per 1000 persons) and Canada (5.5 kg per 1000 persons), while the world average per capita consumption of aircraft propeller was estimated at 0.7 kg per 1000 persons.

In Austria, aircraft propeller per capita consumption increased at an average annual rate of +14.8% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Spain (+35.4% per year) and the Netherlands (+12.4% per year).

Production

World Production of Propellers And Rotors For Civil Non-Powered Aircraft, Helicopters And Aeroplanes

In 2022, global production of propellers and rotors for civil non-powered aircraft, helicopters and aeroplanes skyrocketed to 5.2K tons, rising by 16% against the previous year's figure. The total output volume increased at an average annual rate of +1.0% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2015 when the production volume increased by 19%. As a result, production attained the peak volume of 5.7K tons. From 2016 to 2022, global production growth remained at a lower figure.

In value terms, aircraft propeller production dropped to $1.4B in 2022 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when the production volume increased by 20% against the previous year. Global production peaked at $1.4B in 2021, and then declined slightly in the following year.

Production By Country

Austria (2.4K tons) remains the largest aircraft propeller producing country worldwide, comprising approx. 46% of total volume. Moreover, aircraft propeller production in Austria exceeded the figures recorded by the second-largest producer, Spain (577 tons), fourfold. The third position in this ranking was taken by the UK (245 tons), with a 4.7% share.

In Austria, aircraft propeller production remained relatively stable over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Spain (+0.1% per year) and the UK (+2.4% per year).

Imports

World Imports of Propellers And Rotors For Civil Non-Powered Aircraft, Helicopters And Aeroplanes

In 2022, approx. 832 tons of propellers and rotors for civil non-powered aircraft, helicopters and aeroplanes were imported worldwide; with a decrease of -85.4% against the previous year. In general, imports recorded a abrupt setback. The pace of growth was the most pronounced in 2021 when imports increased by 93% against the previous year. As a result, imports reached the peak of 5.7K tons, and then dropped rapidly in the following year.

In value terms, aircraft propeller imports shrank sharply to $361M in 2022. Over the period under review, imports recorded a deep downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 65%. As a result, imports reached the peak of $2.6B, and then dropped rapidly in the following year.

Imports By Country

Japan (149 tons) and Morocco (113 tons) represented the key importers of propellers and rotors for civil non-powered aircraft, helicopters and aeroplanes in 2022, finishing at approx. 18% and 14% of total imports, respectively. Singapore (60 tons) ranks next in terms of the total imports with a 7.2% share, followed by South Korea (5.4%) and the United Arab Emirates (4.8%). The following importers - Norway (32 tons), Kenya (29 tons), Indonesia (29 tons), Qatar (27 tons), Nigeria (21 tons), Colombia (20 tons), Kazakhstan (17 tons) and Oman (14 tons) - together made up 23% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Morocco (with a CAGR of +44.2%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Japan ($99M) constitutes the largest market for imported propellers and rotors for civil non-powered aircraft, helicopters and aeroplanes worldwide, comprising 27% of global imports. The second position in the ranking was taken by South Korea ($42M), with a 12% share of global imports. It was followed by Norway, with an 11% share.

In Japan, aircraft propeller imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+10.3% per year) and Norway (+13.5% per year).

Import Prices By Country

The average aircraft propeller import price stood at $433,160 per ton in 2022, declining by -5.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The pace of growth was the most pronounced in 2014 an increase of 18% against the previous year. Global import price peaked at $537,207 per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Norway ($1,282,411 per ton), while Qatar ($79,874 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+17.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Propellers And Rotors For Civil Non-Powered Aircraft, Helicopters And Aeroplanes

In 2022, approx. 267 tons of propellers and rotors for civil non-powered aircraft, helicopters and aeroplanes were exported worldwide; with a decrease of -91.7% on 2021 figures. Over the period under review, exports saw a sharp reduction. The most prominent rate of growth was recorded in 2018 when exports increased by 16%. The global exports peaked at 5.1K tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, aircraft propeller exports reduced rapidly to $65M in 2022. In general, exports recorded a dramatic setback. The most prominent rate of growth was recorded in 2021 when exports increased by 23%. As a result, the exports reached the peak of $1.4B, and then contracted sharply in the following year.

Exports By Country

Jamaica (38 tons), Morocco (29 tons), Indonesia (27 tons), Norway (21 tons), Singapore (19 tons), the United Arab Emirates (15 tons), Moldova (12 tons), South Korea (9.7 tons), Sudan (7.8 tons), Kyrgyzstan (7.1 tons), Taiwan (Chinese) (6 tons) and Saudi Arabia (6 tons) represented roughly 74% of total exports in 2022. Russia (4.3 tons) took a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Sudan (with a CAGR of +42.5%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest aircraft propeller supplying countries worldwide were Morocco ($15M), Norway ($12M) and Singapore ($9.1M), together comprising 56% of global exports. Saudi Arabia, the United Arab Emirates, Russia, South Korea, Jamaica, Sudan, Moldova, Indonesia, Taiwan (Chinese) and Kyrgyzstan lagged somewhat behind, together accounting for a further 22%.

Sudan, with a CAGR of +70.4%, recorded the highest rates of growth with regard to the value of exports, among 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 propeller export price stood at $242,829 per ton in 2022, with a decrease of -45.2% against the previous year. Over the period under review, export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 an increase of 34% against the previous year. Over the period under review, the average export prices hit record highs at $443,121 per ton in 2021, and then contracted dramatically in the following year.

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 Saudi Arabia ($603,964 per ton), while Indonesia ($22,241 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sudan (+19.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform