Cyprus: Aircraft Market 2020

Aircraft Market Size in Cyprus

The revenue of the aircraft market in Cyprus amounted to $X in 2018, rising by X% against the previous year. In general, aircraft consumption, however, continues to indicate a modest increase. The growth pace was the most rapid in 2010 when the market value increased by X% y-o-y. Over the period under review, the aircraft market reached its maximum level at $X in 2011; however, from 2012 to 2018, consumption remained at a lower figure.

Aircraft Production in Cyprus

In value terms, aircraft production stood at $X in 2018 estimated in export prices. In general, aircraft production continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2015 with an increase of X% y-o-y. Over the period under review, aircraft production attained its maximum level in 2018 and is expected to retain its growth in the near future.

Aircraft Exports

Exports from Cyprus

Aircraft exports from Cyprus amounted to X units in 2018, approximately reflecting the previous year. In general, aircraft exports continue to indicate a resilient expansion. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. Cyprus exports peaked at X units in 2015; afterwards, it flattened through to 2018.

In value terms, aircraft exports amounted to $X in 2018. Overall, aircraft exports continue to indicate a drastic deduction. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Cyprus exports peaked at $X in 2007; however, from 2008 to 2018, exports stood at a somewhat lower figure.

Exports by Country

Iran was the largest exporting country with an export of about X units, which accounted for X% of total exports. It was distantly followed by China (X units), constituting a X% share of total exports.

From 2007 to 2018, average annual rates of growth with regard to aircraft exports from Iran stood at +X%. At the same time, China (+X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. While the share of Iran (+X p.p.) and China (+X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest aircraft supplier from Cyprus, comprising X% of global exports. The second position in the ranking was occupied by Iran ($X), with a X% share of global exports.

In China, aircraft exports expanded at an average annual rate of +X% over the period from 2007-2018. In the other countries, the average annual rates were as follows: Iran (+X% per year) and Cyprus (-X% per year).

Export Prices by Country

The aircraft export price in Cyprus stood at $X per unit in 2018, growing by X% against the previous year. In general, the aircraft export price, however, continues to indicate a sharp descent. The pace of growth was the most pronounced in 2018 when the export price increased by X% y-o-y. Cyprus export price peaked at $X per unit in 2007; however, from 2008 to 2018, export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was China ($X per unit), while Iran totaled $X per unit.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Iran (+X% per year).

Aircraft Imports

Imports into Cyprus

Aircraft imports into Cyprus amounted to X units in 2018, going down by -X% against the previous year. In general, aircraft imports continue to indicate a deep shrinkage. The pace of growth appeared the most rapid in 2011 with an increase of X% y-o-y. In that year, aircraft imports reached their peak of X units. From 2012 to 2018, the growth of aircraft imports remained at a somewhat lower figure.

In value terms, aircraft imports amounted to $X in 2018. Over the period under review, aircraft imports continue to indicate a tangible increase. The most prominent rate of growth was recorded in 2011 when imports increased by X% y-o-y. Cyprus imports peaked at $X in 2017, and then declined slightly in the following year.

Imports by Country

In 2018, Germany (X units) represented the main importer of airplanes and other aircraft, generating X% of total imports. It was distantly followed by Brazil (X units), generating a X% share of total imports. The UK (X units) held a relatively small share of total imports.

Germany was also the fastest-growing in terms of the airplanes and other aircraft imports, with a CAGR of +X% from 2007 to 2018. At the same time, Brazil (+X%) and the UK (+X%) displayed positive paces of growth. From 2007 to 2018, the share of Germany, Brazil and the UK increased by +X%, +X% and +X% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the UK ($X) constitutes the largest market for imported airplanes and other aircraft into Cyprus, comprising X% of global imports. The second position in the ranking was occupied by Brazil ($X), with a X% share of global imports. It was followed by Germany, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value in the UK amounted to +X%. In the other countries, the average annual rates were as follows: Brazil (+X% per year) and Germany (-X% per year).

Import Prices by Country

The aircraft import price in Cyprus stood at $X per unit in 2018, dropping by -X% against the previous year. Over the period under review, the aircraft import price, however, continues to indicate a remarkable expansion. The most prominent rate of growth was recorded in 2014 when the import price increased by X% y-o-y. Cyprus import price peaked at $X per unit in 2017, and then declined slightly in the following year.

Prices varied noticeably by the country of destination; the country with the highest price was the UK ($X per unit), while Germany ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the UK, while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform