Republic of Korea: Market for Spark-Ignition Reciprocating Or Rotary Internal Combustion Piston Engines For Aircraft 2024

Market Size for Spark-Ignition Reciprocating Or Rotary Internal Combustion Piston Engines For Aircraft in Republic of Korea

In 2022, the South Korean aircraft internal combustion engine market decreased by X% to $X, falling for the second year in a row after two years of growth. Overall, consumption recorded a sharp setback. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Production of Spark-Ignition Reciprocating Or Rotary Internal Combustion Piston Engines For Aircraft in Republic of Korea

In value terms, aircraft internal combustion engine production fell remarkably to $X in 2022 estimated in export price. Overall, production showed a sharp curtailment. The pace of growth appeared the most rapid in 2019 with an increase of X,800%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

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Exports of Spark-Ignition Reciprocating Or Rotary Internal Combustion Piston Engines For Aircraft

Exports from Republic of Korea

In 2022, shipments abroad of spark-ignition reciprocating or rotary internal combustion piston engines for aircraft increased by X% to X units for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, saw a deep downturn. Over the period under review, the exports reached the peak figure at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, aircraft internal combustion engine exports surged to $X in 2022. Over the period under review, exports, however, saw a deep reduction. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Taiwan (Chinese) (X units) was the main destination for aircraft internal combustion engine exports from South Korea, with a X% share of total exports. It was followed by the United States (X units), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Taiwan (Chinese) stood at X%.

In value terms, Taiwan (Chinese) ($X) remains the key foreign market for spark-ignition reciprocating or rotary internal combustion piston engines for aircraft exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Taiwan (Chinese) stood at X%.

Export Prices by Country

The average aircraft internal combustion engine export price stood at $X per unit in 2022, picking up by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Taiwan (Chinese) stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced a decline.

Imports of Spark-Ignition Reciprocating Or Rotary Internal Combustion Piston Engines For Aircraft

Imports into Republic of Korea

In 2022, the amount of spark-ignition reciprocating or rotary internal combustion piston engines for aircraft imported into South Korea skyrocketed to X units, with an increase of X% compared with 2021 figures. In general, imports, however, recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2013 when imports increased by X%. As a result, imports reached the peak of X units. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, aircraft internal combustion engine imports soared to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

The United States (X units), the UK (X units) and Italy (X units) were the main suppliers of aircraft internal combustion engine imports to South Korea, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of spark-ignition reciprocating or rotary internal combustion piston engines for aircraft to South Korea, comprising X% of total imports. The second position in the ranking was held by the UK ($X), with a X% share of total imports. It was followed by Austria, with an X% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (X% per year) and Austria (X% per year).

Import Prices by Country

In 2022, the average aircraft internal combustion engine import price amounted to $X per unit, jumping by X% against the previous year. Overall, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, aircraft internal combustion engine import price decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2016 when the average import price increased by X%. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Israel ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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