Hong Kong SAR, China: Spacecraft Market 2023

Spacecraft Market Size in Hong Kong SAR, China

The Hong Kong spacecraft market declined remarkably to $X in 2021, with a decrease of -39.9% against the previous year. Over the period under review, consumption saw a drastic downturn. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Spacecraft Production in Hong Kong SAR, China

In value terms, spacecraft production contracted markedly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a drastic downturn. The pace of growth appeared the most rapid in 2019 with an increase of 2,707% against the previous year. Spacecraft production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Spacecraft Exports

Exports from Hong Kong SAR, China

For the sixth year in a row, Hong Kong SAR recorded growth in shipments abroad of civil spacecraft, satellites and launch vehicles, which increased by 20% to X units in 2021. In general, exports recorded a significant increase. The pace of growth appeared the most rapid in 2019 when exports increased by 400% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, spacecraft exports rose markedly to $X in 2021. Overall, exports saw a significant expansion. The growth pace was the most rapid in 2017 with an increase of 818% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the near future.

Exports by Country

The UK (X units) was the main destination for spacecraft exports from Hong Kong SAR, with a 83% share of total exports. Moreover, spacecraft exports to the UK exceeded the volume sent to the second major destination, Ecuador (X units), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK amounted to +25.1%.

In value terms, the UK ($X) remains the key foreign market for spacecraft exports from Hong Kong SAR, comprising 45% of total exports. The second position in the ranking was held by Ecuador ($X), with a 3.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK totaled +20.3%.

Export Prices by Country

In 2021, the average spacecraft export price amounted to $X per unit, dropping by -4.3% against the previous year. Overall, the export price, however, continues to indicate noticeable growth. The pace of growth was the most pronounced in 2015 when the average export price increased by 2,602%. The export price peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was the UK ($X per unit), while the average price for exports to Ecuador stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Kiribati (+68.4%).

Spacecraft Imports

Imports into Hong Kong SAR, China

In 2019, after five years of growth, there was significant decline in purchases abroad of civil spacecraft, satellites and launch vehicles, when their volume decreased by 99.9% to X units. In general, imports continue to indicate a sharp downturn. The pace of growth was the most pronounced in 2018 when imports increased by 85% against the previous year. As a result, imports reached the peak of X units, and then contracted dramatically in the following year.

In value terms, spacecraft imports shrank dramatically to $X in 2019. Over the period under review, imports saw a dramatic setback. The pace of growth appeared the most rapid in 2018 with an increase of 10% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2019, imports stood at a somewhat lower figure.

Imports by Country

In 2019, Spain (X units) was the main supplier of spacecraft to Hong Kong SAR, with a approx. 100% share of total imports.

From 2014 to 2019, the average annual rate of growth in terms of volume from Spain was relatively modest.

In value terms, Spain ($X) constituted the largest supplier of spacecraft to Hong Kong SAR.

From 2014 to 2019, the average annual growth rate of value from Spain was relatively modest.

Import Prices by Country

The average spacecraft import price stood at $X per unit in 2019, falling by -64.5% against the previous year. In general, the import price faced a dramatic downturn. The pace of growth was the most pronounced in 2017 when the average import price decreased by -40.5%. The import price peaked at $X per unit in 2014; however, from 2015 to 2019, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Spain.

From 2014 to 2019, the rate of growth in terms of prices for the United States amounted to +7.1% per year.

Source: IndexBox Market Intelligence Platform

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