Canada: Aircraft Market 2024

Aircraft Market Size in Canada

In 2022, the Canadian aircraft market decreased by -68.7% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption saw a pronounced descent. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Aircraft Production in Canada

In value terms, aircraft production shrank modestly to $X in 2022 estimated in export price. In general, the total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.3% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 47% against the previous year. Aircraft production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Aircraft Exports

Exports from Canada

In 2022, after two years of growth, there was significant decline in shipments abroad of airplanes and other aircraft, when their volume decreased by -6.5% to X units. Overall, exports, however, saw a moderate increase. The most prominent rate of growth was recorded in 2015 with an increase of 119% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, aircraft exports surged to $X in 2022. In general, exports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 172%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for aircraft exports from Canada, accounting for a 78% share of total exports. Moreover, aircraft exports to the United States exceeded the volume sent to the second major destination, Australia (X units), eightfold. Spain (X units) ranked third in terms of total exports with a 5.8% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +12.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+1.2% per year) and Spain (+29.2% per year).

In value terms, the United States ($X) remains the key foreign market for airplanes and other aircraft exports from Canada, comprising 93% of total exports. The second position in the ranking was taken by Australia ($X), with a 4.3% share of total exports. It was followed by Spain, with a 1.4% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +21.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-0.2% per year) and Spain (+40.8% per year).

Export Prices by Country

In 2022, the average aircraft export price amounted to $X per unit, growing by 34% against the previous year. In general, the export price recorded a resilient expansion. The most prominent rate of growth was recorded in 2019 when the average export price increased by 109% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+9.0%), while the prices for the other major destinations experienced mixed trend patterns.

Aircraft Imports

Imports into Canada

After two years of growth, overseas purchases of airplanes and other aircraft decreased by -67.5% to X units in 2022. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 70%. Imports peaked at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, aircraft imports dropped markedly to $X in 2022. Overall, imports continue to indicate a noticeable decline. The most prominent rate of growth was recorded in 2017 when imports increased by 120% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then contracted sharply in the following year.

Imports by Country

The United States (X units), China (X units) and Switzerland (X units) were the main suppliers of aircraft imports to Canada, together comprising 74% of total imports. The Czech Republic, Belgium, France, Italy and Germany lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +41.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of airplanes and other aircraft to Canada, comprising 83% of total imports. The second position in the ranking was held by France ($X), with a 5.1% share of total imports. It was followed by China, with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled -1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-6.7% per year) and China (+37.4% per year).

Import Prices by Country

In 2022, the average aircraft import price amounted to $X per unit, picking up by 47% against the previous year. Overall, the import price, however, recorded a noticeable reduction. The pace of growth was the most pronounced in 2017 when the average import price increased by 59% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 the United States ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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