Asia: Aircraft Market 2024

Aircraft Market Size in Asia

In 2023, the Asian aircraft market increased by X% to $X, rising for the second consecutive year after four years of decline. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2023, the growth of the market failed to regain momentum.

Aircraft Production in Asia

In value terms, aircraft production declined slightly to $X in 2023 estimated in export price. In general, production, however, showed a mild shrinkage. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

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Aircraft Exports

Exports in Asia

In 2023, approx. X units of airplanes and other aircraft were exported in Asia; rising by X% on the year before. In general, exports showed a buoyant expansion. The growth pace was the most rapid in 2015 when exports increased by X%. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

In value terms, aircraft exports declined to $X in 2023. Overall, exports, however, saw a abrupt downturn. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Thailand was the largest exporter of airplanes and other aircraft in Asia, with the volume of exports accounting for X units, which was near X% of total exports in 2023. China (X units) took the second position in the ranking, distantly followed by Singapore (X units). All these countries together took near X% share of total exports. South Korea (X units) and Israel (X units) followed a long way behind the leaders.

Thailand was also the fastest-growing in terms of the airplanes and other aircraft exports, with a CAGR of X% from 2012 to 2023. At the same time, Singapore (X%), South Korea (X%) and China (X%) displayed positive paces of growth. By contrast, Israel (X%) illustrated a downward trend over the same period. Thailand (X p.p.), Singapore (X p.p.) and South Korea (X p.p.) significantly strengthened its position in terms of the total exports, while Israel saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Israel ($X) remains the largest aircraft supplier in Asia, comprising X% of total exports. The second position in the ranking was held by China ($X), with an X% share of total exports. It was followed by South Korea, with an X% share.

From 2012 to 2023, the average annual growth rate of value in Israel totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: China (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2023, the export price in Asia amounted to $X per unit, which is down by X% against the previous year. In general, the export price showed a abrupt descent. The most prominent rate of growth was recorded in 2018 an increase of X%. The level of export peaked at $X per unit in 2013; however, from 2014 to 2023, 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 Israel ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced mixed trends in the export price figures.

Aircraft Imports

Imports in Asia

Aircraft imports soared to X units in 2023, jumping by X% on 2022 figures. Over the period under review, imports recorded a significant increase. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, imports attained the peak figure in 2023 and are expected to retain growth in years to come.

In value terms, aircraft imports contracted to $X in 2023. In general, imports showed pronounced growth. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2023, the growth of imports remained at a lower figure.

Imports by Country

Georgia prevails in imports structure, accounting for X units, which was near X% of total imports in 2023. The Philippines (X units) ranks second in terms of the total imports with a X% share, followed by Singapore (X%). The following importers - India (X units), the United Arab Emirates (X units), Thailand (X units), South Korea (X units) and Bangladesh (X units) - together made up X% of total imports.

Georgia was also the fastest-growing in terms of the airplanes and other aircraft imports, with a CAGR of X% from 2012 to 2023. At the same time, Singapore (X%), the Philippines (X%), Bangladesh (X%), South Korea (X%), the United Arab Emirates (X%), Thailand (X%) and India (X%) displayed positive paces of growth. Georgia (X p.p.), Singapore (X p.p.) and the Philippines (X p.p.) significantly strengthened its position in terms of the total imports, while India saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bangladesh ($X) constitutes the largest market for imported airplanes and other aircraft in Asia, comprising X% of total imports. The second position in the ranking was taken by Thailand ($X), with a X% share of total imports. It was followed by Georgia, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Bangladesh amounted to X%. In the other countries, the average annual rates were as follows: Thailand (X% per year) and Georgia (X% per year).

Import Prices by Country

The import price in Asia stood at $X per unit in 2023, dropping by X% against the previous year. Overall, the import price faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2022 to 2023, the import prices remained at a somewhat lower figure.

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 Bangladesh ($X per unit), while Georgia ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform