China: Aircraft Propeller Market 2024

Aircraft Propeller Market Size in China

The Chinese aircraft propeller market rose significantly to $X in 2022, surging by 9% against the previous year. In general, consumption, however, continues to indicate a noticeable descent. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Aircraft Propeller Production in China

In value terms, aircraft propeller production shrank to $X in 2022 estimated in export price. Overall, production, however, recorded a pronounced setback. The most prominent rate of growth was recorded in 2019 when the production volume increased by 31%. Aircraft propeller production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Aircraft Propeller Exports

Exports from China

In 2022, aircraft propeller exports from China reduced to X tons, shrinking by -11.7% on 2021. In general, exports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 88%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, aircraft propeller exports amounted to $X in 2022. Over the period under review, exports recorded a perceptible downturn. The most prominent rate of growth was recorded in 2016 when exports increased by 68%. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

South Korea (X tons) was the main destination for aircraft propeller exports from China, with a 40% share of total exports. Moreover, aircraft propeller exports to South Korea exceeded the volume sent to the second major destination, Germany (X tons), threefold. The third position in this ranking was held by the UK (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to South Korea stood at +60.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+44.9% per year) and the UK (-2.4% per year).

In value terms, the UK ($X), Germany ($X) and South Korea ($X) constituted the largest markets for aircraft propeller exported from China worldwide, with a combined 60% share of total exports.

In terms of the main countries of destination, South Korea, with a CAGR of +69.6%, 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

In 2022, the average aircraft propeller export price amounted to $X per ton, surging by 26% against the previous year. Overall, the export price, however, continues to indicate a deep setback. The growth pace was the most rapid in 2018 when the average export price increased by 37% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 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 UK ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (+11.2%), while the prices for the other major destinations experienced more modest paces of growth.

Aircraft Propeller Imports

Imports into China

In 2022, purchases abroad of propellers and rotors for civil non-powered aircraft, helicopters and aeroplanes decreased by -0.8% to X tons, falling for the second year in a row after two years of growth. Overall, imports, however, showed a remarkable increase. The pace of growth appeared the most rapid in 2013 when imports increased by 66%. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, aircraft propeller imports dropped modestly to $X in 2022. Over the period under review, total imports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.6% against 2018 indices. The growth pace was the most rapid in 2019 with an increase of 67%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), the United States (X tons) and Russia (X tons) were the main suppliers of aircraft propeller imports to China, with a combined 73% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +151.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and France ($X) were the largest aircraft propeller suppliers to China, together accounting for 60% of total imports. Russia, the UK, Italy, New Zealand and Poland lagged somewhat behind, together comprising a further 39%.

In terms of the main suppliers, Russia, with a CAGR of +173.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average aircraft propeller import price stood at $X per ton in 2022, remaining constant against the previous year. Over the period under review, the import price, however, saw a abrupt decline. The pace of growth was the most pronounced in 2019 when the average import price increased by 18%. The import price peaked at $X per ton in 2012; however, from 2013 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 Italy ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+25.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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