ASEAN: Market for Turbo-Jets Of A Thrust Exceeding 25 kN 2024

Market Size for Turbo-Jets Of A Thrust Exceeding 25 kN in ASEAN

In 2021, the ASEAN turbo-jet (over X kn) market decreased by -7.2% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption, however, saw buoyant growth. Over the period under review, the market attained the peak level at $X in 2020, and then shrank in the following year.

Production of Turbo-Jets Of A Thrust Exceeding X kN in ASEAN

In value terms, turbo-jet (over X kn) production fell markedly to $X in 2021 estimated in export price. The total production indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +22.9% against 2019 indices. The pace of growth appeared the most rapid in 2020 when the production volume increased by 46% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Turbo-Jets Of A Thrust Exceeding 25 kN

Exports in ASEAN

In 2021, overseas shipments of turbo-jets of a thrust exceeding X kn decreased by -30.1% to X units, falling for the second year in a row after two years of growth. Overall, exports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of 134%. Over the period under review, the exports attained the maximum at X units in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, turbo-jet (over X kn) exports contracted sharply to $X in 2021. In general, exports, however, showed a significant increase. The growth pace was the most rapid in 2018 with an increase of 310% against the previous year. Over the period under review, the exports reached the maximum at $X in 2020, and then dropped sharply in the following year.

Exports by Country

Singapore dominates exports structure, recording X units, which was approx. 87% of total exports in 2021. Vietnam (X units), the Philippines (X units), Indonesia (X units) and Malaysia (X units) followed a long way behind the leaders.

Singapore was also the fastest-growing in terms of the turbo-jets of a thrust exceeding X kn exports, with a CAGR of +14.9% from 2012 to 2021. At the same time, Malaysia (+9.9%), the Philippines (+9.0%) and Vietnam (+6.6%) displayed positive paces of growth. By contrast, Indonesia (-11.5%) illustrated a downward trend over the same period. Singapore (+23 p.p.) significantly strengthened its position in terms of the total exports, while Vietnam and Indonesia saw its share reduced by -1.7% and -17.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest turbo-jet (over X kn) supplier in ASEAN, comprising 92% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 6.1% share of total exports. It was followed by the Philippines, with a 1.8% share.

In Singapore, turbo-jet (over X kn) exports increased at an average annual rate of +30.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Vietnam (+39.6% per year) and the Philippines (+24.8% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per unit, growing by 1.9% against the previous year. Overall, the export price continues to indicate resilient growth. The pace of growth was the most pronounced in 2020 when the export price increased by 96%. Over the period under review, the export prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+31.0%), while the other leaders experienced more modest paces of growth.

Imports of Turbo-Jets Of A Thrust Exceeding 25 kN

Imports in ASEAN

In 2021, after five years of growth, there was significant decline in supplies from abroad of turbo-jets of a thrust exceeding X kn, when their volume decreased by -17.4% to X units. In general, imports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 173% against the previous year. The volume of import peaked at X units in 2020, and then dropped rapidly in the following year.

In value terms, turbo-jet (over X kn) imports contracted notably to $X in 2021. Overall, imports, however, showed a significant increase. The pace of growth appeared the most rapid in 2018 with an increase of 278%. Over the period under review, imports hit record highs at $X in 2020, and then declined remarkably in the following year.

Imports by Country

Singapore represented the major importing country with an import of around X units, which finished at 77% of total imports. It was distantly followed by Brunei Darussalam (X units), making up a 20% share of total imports. Thailand (X units) took a minor share of total imports.

Imports into Singapore increased at an average annual rate of +23.0% from 2012 to 2021. At the same time, Brunei Darussalam (+24.1%) and Thailand (+14.1%) displayed positive paces of growth. Moreover, Brunei Darussalam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +24.1% from 2012-2021. From 2012 to 2021, the share of Singapore and Brunei Darussalam increased by +22 and +7 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported turbo-jets of a thrust exceeding X kn in ASEAN, comprising 94% of total imports. The second position in the ranking was held by Thailand ($X), with a 4.8% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Singapore totaled +37.4%. In the other countries, the average annual rates were as follows: Thailand (+29.8% per year) and Brunei Darussalam (-6.6% per year).

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per unit, remaining relatively unchanged against the previous year. Over the period under review, the import price, however, posted a resilient expansion. The pace of growth was the most pronounced in 2018 when the import price increased by 97%. Over the period under review, import prices attained the peak figure at $X per unit in 2020, and then dropped slightly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per unit), while Brunei Darussalam ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+13.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform