China: Aircraft Market 2024

Aircraft Market Size in China

The Chinese aircraft market skyrocketed to $X in 2022, picking up by 29% against the previous year. Over the period under review, consumption showed resilient growth. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Aircraft Production in China

In value terms, aircraft production contracted notably to $X in 2022 estimated in export price. In general, production, however, showed a significant expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by 824% against the previous year. Aircraft production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Aircraft Exports

Exports from China

In 2022, shipments abroad of airplanes and other aircraft decreased by -47.2% to X units for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 12,160% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, aircraft exports dropped modestly to $X in 2022. In general, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 11,482%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Thailand (X units), the United States (X units) and Japan (X units) were the main destinations of aircraft exports from China, together comprising 48% of total exports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +219.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) emerged as the key foreign market for airplanes and other aircraft exports from China, comprising 22% of total exports. The second position in the ranking was held by the United States ($X), with a 10% share of total exports. It was followed by Japan, with a 5.5% share.

From 2012 to 2022, the average annual growth rate of value to Thailand stood at +231.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+1.7% per year) and Japan (+99.0% per year).

Export Prices by Country

The average aircraft export price stood at $X per unit in 2022, growing by 86% against the previous year. Over the period under review, the export price, however, saw a deep contraction. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Nigeria ($X per unit), while the average price for exports to New Zealand ($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 Saudi Arabia (+43.2%), while the prices for the other major destinations experienced mixed trend patterns.

Aircraft Imports

Imports into China

For the third consecutive year, China recorded decline in overseas purchases of airplanes and other aircraft, which decreased by -38.5% to X units in 2022. In general, imports saw a abrupt shrinkage. The growth pace was the most rapid in 2015 with an increase of 637%. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, aircraft imports shrank rapidly to $X in 2022. Overall, imports continue to indicate a perceptible contraction. The pace of growth appeared the most rapid in 2014 when imports increased by 42%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X units) constituted the largest aircraft supplier to China, accounting for a 56% share of total imports. Moreover, aircraft imports from the United States exceeded the figures recorded by the second-largest supplier, Germany (X units), fivefold. The third position in this ranking was taken by Canada (X units), with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at -8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-7.3% per year) and Canada (+5.2% per year).

In value terms, the United States ($X) constituted the largest supplier of airplanes and other aircraft to China, comprising 75% of total imports. The second position in the ranking was taken by Austria ($X), with a 9.9% share of total imports. It was followed by Canada, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+12.5% per year) and Canada (+18.5% per year).

Import Prices by Country

In 2022, the average aircraft import price amounted to $X per unit, with an increase of 18% against the previous year. Over the period under review, the import price enjoyed a resilient increase. The most prominent rate of growth was recorded in 2016 an increase of 508% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+15.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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