Turbo-Jet (Over 25 kN) Market

The global turbo-jet (over 25 kN) market is expected to witness a downward trend in consumption over the next eight years. Consumption, production, import, and export dynamics from 2012 to 2022 have been analyzed, highlighting trends and growth rates across major countries. The article provides insights into the market value, volume, per capita consumption, and average prices, showcasing performance and fluctuations within the industry.

Market Forecast

The turbo-jet (over 25 kN) market is expected to start a downward consumption trend over the next eight years. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -0.6% for the eight-year period from 2022 to 2030, which is projected to depress the market volume to 226K units by the end of 2030.

In value terms, the market is forecast to contract with an anticipated CAGR of +1.6% for the period from 2022 to 2030, which is projected to bring the market value to $276.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Turbo-Jets Of A Thrust Exceeding 25 kN

In 2022, the amount of turbo-jets of a thrust exceeding 25 kN consumed worldwide expanded significantly to 237K units, surging by 11% compared with the previous year's figure. Overall, the total consumption indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +6.0% 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 +16.7% against 2020 indices. Over the period under review, global consumption hit record highs at 241K units in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

The global turbo-jet (over 25 kN) market value skyrocketed to $244B in 2022, picking up by 16% 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 enjoyed a prominent expansion. Global consumption peaked in 2022 and is likely to continue growth in years to come.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (36K units), the Philippines (33K units) and India (15K units), together comprising 36% of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by the Philippines (with a CAGR of +39.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($75.7B) led the market, alone. The second position in the ranking was held by the Philippines ($33.2B). It was followed by India.

In China, the turbo-jet (over 25 kN) market expanded at an average annual rate of +6.9% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: the Philippines (+43.0% per year) and India (+4.5% per year).

In 2022, the highest levels of turbo-jet (over 25 kN) per capita consumption was registered in the Philippines (289 units per million persons), followed by Germany (93 units per million persons), Russia (52 units per million persons) and Mexico (34 units per million persons), while the world average per capita consumption of turbo-jet (over 25 kN) was estimated at 30 units per million persons.

In the Philippines, turbo-jet (over 25 kN) per capita consumption expanded at an average annual rate of +37.0% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Germany (+12.7% per year) and Russia (+4.6% per year).

Production

World Production of Turbo-Jets Of A Thrust Exceeding 25 kN

In 2022, the amount of turbo-jets of a thrust exceeding 25 kN produced worldwide reached 202K units, stabilizing at the previous year. In general, the total production indicated a remarkable increase from 2012 to 2022: its volume 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, production increased by +7.0% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 52%. Global production peaked at 212K units in 2019; however, from 2020 to 2022, production failed to regain momentum.

In value terms, turbo-jet (over 25 kN) production expanded modestly to $214.4B in 2022 estimated in export price. Over the period under review, production posted a resilient expansion. The pace of growth was the most pronounced in 2017 when the production volume increased by 50%. Over the period under review, global production reached the peak level at $221B in 2020; however, from 2021 to 2022, production failed to regain momentum.

Production By Country

The country with the largest volume of turbo-jet (over 25 kN) production was China (36K units), accounting for 18% of total volume. Moreover, turbo-jet (over 25 kN) production in China exceeded the figures recorded by the second-largest producer, India (15K units), twofold. The third position in this ranking was held by Indonesia (14K units), with a 7.1% share.

In China, turbo-jet (over 25 kN) production increased at an average annual rate of +4.2% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: India (+2.6% per year) and Indonesia (+19.5% per year).

Imports

World Imports of Turbo-Jets Of A Thrust Exceeding 25 kN

In 2022, the amount of turbo-jets of a thrust exceeding 25 kN imported worldwide soared to 88K units, picking up by 68% compared with the year before. In general, imports enjoyed resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, turbo-jet (over 25 kN) imports soared to $67.8B in 2022. Overall, imports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 39%. Global imports peaked at $67.8B in 2019; afterwards, it flattened through to 2022.

Imports By Country

In 2022, the Philippines (31K units) represented the major importer of turbo-jets of a thrust exceeding 25 kN, creating 35% of total imports. The UK (8.1K units) ranks second in terms of the total imports with a 9.2% share, followed by Hong Kong SAR (8.2%), Singapore (6.3%), the United States (6.2%) and France (5.4%). Germany (3.5K units), India (2.8K units), the United Arab Emirates (2.6K units), Brazil (2.6K units) and Spain (1.3K units) followed a long way behind the leaders.

The Philippines was also the fastest-growing in terms of the turbo-jets of a thrust exceeding 25 kN imports, with a CAGR of +131.4% from 2012 to 2022. At the same time, India (+33.7%), Singapore (+29.3%), Brazil (+12.1%), Hong Kong SAR (+10.9%), Spain (+9.6%), France (+8.9%), the United Arab Emirates (+6.8%), the UK (+2.4%) and Germany (+1.2%) displayed positive paces of growth. The United States experienced a relatively flat trend pattern. From 2012 to 2022, the share of the Philippines, Singapore and India increased by +35, +5 and +2.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest turbo-jet (over 25 kN) importing markets worldwide were the UK ($9.5B), Hong Kong SAR ($8B) and the United States ($6.7B), together accounting for 36% of global imports. Singapore, Germany, France, the United Arab Emirates, India, Brazil, Spain and the Philippines lagged somewhat behind, together accounting for a further 37%.

The Philippines, with a CAGR of +109.6%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average turbo-jet (over 25 kN) import price stood at $772,182 per unit in 2022, declining by -27.4% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 15% against the previous year. Global import price peaked at $1,064,165 per unit in 2021, and then fell remarkably in the following year.

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 Germany ($1,300,263 per unit), while the Philippines ($2,500 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+6.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Turbo-Jets Of A Thrust Exceeding 25 kN

In 2022, approx. 53K units of turbo-jets of a thrust exceeding 25 kN were exported worldwide; jumping by 29% compared with 2021. Over the period under review, exports posted a buoyant increase. The pace of growth was the most pronounced in 2018 when exports increased by 41%. Over the period under review, the global exports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

In value terms, turbo-jet (over 25 kN) exports skyrocketed to $56.9B in 2022. In general, exports showed a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 48% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the near future.

Exports By Country

In 2022, the UK (11K units), Indonesia (7.9K units), Hong Kong SAR (5.8K units), Singapore (4.4K units) and France (3.9K units) represented the main exporter of turbo-jets of a thrust exceeding 25 kN in the world, mixing up 63% of total export. India (2.1K units), the United Arab Emirates (1.9K units), the United States (1.7K units), Germany (1.4K units), Turkey (1.3K units), Spain (1.2K units), Canada (1K units) and the Netherlands (0.9K units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +61.7%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest turbo-jet (over 25 kN) supplying countries worldwide were the UK ($16B), France ($8.7B) and Hong Kong SAR ($8.1B), together accounting for 58% of global exports. Singapore, India, Germany, the United States, the United Arab Emirates, Canada, the Netherlands, Spain, Turkey and Indonesia lagged somewhat behind, together accounting for a further 31%.

Among the main exporting countries, India, with a CAGR of +67.8%, recorded the highest rates of growth with regard to the value of exports, 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 (over 25 kN) export price amounted to $1,074,893 per unit, waning by -9.1% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average export price increased by 11%. The global export price peaked at $1,249,326 per unit in 2020; however, from 2021 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 France ($2,195,308 per unit), while Indonesia ($527 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+14.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform