U.S.: Aircraft Market 2024

Aircraft Market Size in the U.S.

In 2023, the U.S. aircraft market decreased by X% to $X for the first time since 2019, thus ending a three-year rising trend. Over the period under review, consumption, however, posted a prominent increase. Over the period under review, the market reached the peak level at $X.5B in 2022, and then reduced rapidly in the following year.

Aircraft Production in the U.S.

In value terms, aircraft production declined slightly to $X in 2023. The total output value increased at an average annual rate of X% over the period from 2013 to 2023; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of X%. Aircraft production peaked at $X in 2018; however, from 2019 to 2023, production remained at a lower figure.

Aircraft Exports

Exports from the U.S.

In 2023, overseas shipments of aircraft increased by X% to X units, rising for the second consecutive year after two years of decline. Over the period under review, exports recorded a significant increase. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2023 and are expected to retain growth in the near future.

In value terms, aircraft exports soared to $X in 2023. Overall, exports showed a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

Exports by Country

Hong Kong SAR (X units) was the main destination for aircraft exports from the United States, with a X% share of total exports. Moreover, aircraft exports to Hong Kong SAR exceeded the volume sent to the second major destination, Canada (X units), ninefold. The third position in this ranking was taken by Ukraine (X units), with a X% share.

From 2013 to 2023, the average annual growth rate of volume to Hong Kong SAR stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Ukraine (X% per year).

In value terms, France ($X), Canada ($X) and China ($X) appeared to be the largest markets for aircraft exported from the United States worldwide, with a combined X% share of total exports. Poland, Saudi Arabia, Hong Kong SAR, Tanzania, Tajikistan, Jamaica, Paraguay and Ukraine lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Tajikistan, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average aircraft export price stood at $X per unit in 2023, reducing by X% against the previous year. In general, the export price faced a precipitous setback. The growth pace was the most rapid in 2021 an increase of X%. The export price peaked at $X,452 per unit in 2018; however, from 2019 to 2023, 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 France ($X,601 per unit), while the average price for exports to Ukraine ($X per unit) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to France (X%), while the prices for the other major destinations experienced a decline.

Aircraft Imports

Imports into the U.S.

After three years of growth, supplies from abroad of aircraft decreased by X% to X units in 2023. In general, imports, however, posted a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, imports reached the maximum at X units in 2022, and then declined markedly in the following year.

In value terms, aircraft imports stood at $X in 2023. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Japan (X units) constituted the largest supplier of aircraft to the United States, with a X% share of total imports. Moreover, aircraft imports from Japan exceeded the figures recorded by the second-largest supplier, China (X units), sixfold. Australia (X units) ranked third in terms of total imports with a X% share.

From 2013 to 2023, the average annual growth rate of volume from Japan amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Australia (X% per year).

In value terms, Canada ($X) constituted the largest supplier of aircraft to the United States, comprising X% of total imports. The second position in the ranking was held by Germany ($X), with an X% share of total imports. It was followed by the UK, with a X% share.

From 2013 to 2023, the average annual rate of growth in terms of value from Canada stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and the UK (X% per year).

Import Prices by Country

In 2023, the average aircraft import price amounted to $X per unit, with an increase of X% against the previous year. In general, the import price, however, continues to indicate a sharp decrease. The import price peaked at $X,610 per unit in 2014; however, from 2015 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Canada ($X,707 per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by the UK (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform