Eastern Asia: Aircraft Market 2024

Aircraft Market Size in Eastern Asia

The East Asian aircraft market soared to $X in 2022, growing by 19% against the previous year. Overall, consumption posted prominent growth. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Aircraft Production in Eastern Asia

In value terms, aircraft production reduced dramatically to $X in 2022 estimated in export price. In general, production, however, showed a significant increase. The pace of growth was the most pronounced in 2015 when the production volume increased by 817% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Aircraft Exports

Exports in Eastern Asia

In 2022, overseas shipments of airplanes and other aircraft decreased by -46.6% to X units for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 2,518%. The volume of export peaked at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, aircraft exports shrank dramatically to $X in 2022. In general, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 5,339%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

China prevails in exports structure, amounting to X units, which was approx. 97% of total exports in 2022. South Korea (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the airplanes and other aircraft exports, with a CAGR of +54.1% from 2012 to 2022. At the same time, South Korea (+25.2%) displayed positive paces of growth. China (+24 p.p.) significantly strengthened its position in terms of the total exports, while South Korea saw its share reduced by -14.1% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest aircraft supplier in Eastern Asia, comprising 94% of total exports. The second position in the ranking was taken by South Korea ($X), with a 5.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +28.0%.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, with an increase of 57% against the previous year. Over the period under review, the export price, however, continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2014 an increase of 108%. Over the period under review, the export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per unit), while China amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (-8.2%).

Aircraft Imports

Imports in Eastern Asia

In 2022, approx. X units of airplanes and other aircraft were imported in Eastern Asia; with a decrease of -83.4% compared with 2021 figures. In general, imports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2015 when imports increased by 401% against the previous year. 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 fell markedly to $X in 2022. Overall, imports saw a abrupt setback. The most prominent rate of growth was recorded in 2013 when imports increased by 40%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of aircraft imports in 2022 were China (X units), South Korea (X units) and Democratic People's Republic of Korea (X units), together recording 88% of total import. It was distantly followed by Taiwan (Chinese) (X units), creating a 4.8% share of total imports. The following importers - Japan (X units) and Macao SAR (X units) - together made up 6.5% of total imports.

From 2012 to 2022, the biggest increases were recorded for Democratic People's Republic of Korea (with a CAGR of +35.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported airplanes and other aircraft in Eastern Asia, comprising 71% of total imports. The second position in the ranking was taken by Japan ($X), with a 15% share of total imports. It was followed by South Korea, with a 7.6% share.

In China, aircraft imports declined by an average annual rate of -3.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Japan (-7.8% per year) and South Korea (-5.1% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per unit, with an increase of 180% against the previous year. Overall, the import price posted a noticeable expansion. The most prominent rate of growth was recorded in 2016 an increase of 289%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per unit), while Democratic People's Republic of Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+17.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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