Dominican Republic: Aircraft Market 2024

Aircraft Market Size in the Dominican Republic

In 2022, the Dominican aircraft market increased by 116% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption continues to indicate a significant increase. Aircraft consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Aircraft Production in the Dominican Republic

In value terms, aircraft production shrank dramatically to $X in 2022 estimated in export price. Overall, production saw a pronounced setback. The pace of growth was the most pronounced in 2014 when the production volume increased by 146%. Aircraft production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Aircraft Exports

Exports from the Dominican Republic

In 2022, overseas shipments of airplanes and other aircraft increased by 50% to X units, rising for the second consecutive year after two years of decline. Over the period under review, exports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 433%. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, aircraft exports skyrocketed to $X in 2022. Overall, exports, however, showed a deep setback. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units) and France (X units) were the main destinations of aircraft exports from the Dominican Republic. Moreover, aircraft exports in the United States exceeded the figures recorded by the second-largest exporter, France, twofold.

From 2014 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +9.1%).

In value terms, the United States ($X) emerged as the key foreign market for airplanes and other aircraft exports from the Dominican Republic, comprising 99% of total exports. The second position in the ranking was taken by France ($X), with a 1.3% share of total exports.

From 2014 to 2022, the average annual growth rate of value to the United States totaled +7.3%.

Export Prices by Country

In 2022, the average aircraft export price amounted to $X per unit, picking up by 5,208% against the previous year. Overall, the export price, however, continues to indicate a abrupt slump. Over the period under review, the average export prices attained the maximum at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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 France stood at $X per unit.

From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+87.1%), while the prices for the other major destinations experienced mixed trend patterns.

Aircraft Imports

Imports into the Dominican Republic

In 2022, purchases abroad of airplanes and other aircraft increased by 325% to X units, rising for the second year in a row after two years of decline. In general, imports recorded a strong increase. The pace of growth was the most pronounced in 2018 when imports increased by 617%. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, aircraft imports soared to $X in 2022. Overall, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2018 when imports increased by 916%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest aircraft supplier to the Dominican Republic, with a 56% share of total imports. Moreover, aircraft imports from China exceeded the figures recorded by the second-largest supplier, France (X units), threefold. The United States (X units) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +34.2%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+34.8% per year) and the United States (+17.5% per year).

In value terms, the largest aircraft suppliers to the Dominican Republic were China ($X), Canada ($X) and the United States ($X), with a combined 99% share of total imports.

The United States, with a CAGR of +93.4%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average aircraft import price stood at $X per unit in 2022, reducing by -23.9% against the previous year. Overall, the import price, however, showed resilient growth. The most prominent rate of growth was recorded in 2013 an increase of 335% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2018; however, from 2019 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 Canada ($X per unit), while the price for France ($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 (+190.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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