ECOWAS: Aircraft Propeller Market 2024

Aircraft Propeller Market Size in ECOWAS

The ECOWAS aircraft propeller market was finally on the rise to reach $X in 2022, after four years of decline. Overall, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Aircraft Propeller Production in ECOWAS

In value terms, aircraft propeller production rose slightly to $X in 2022 estimated in export price. The total production indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +10.3% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 82%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Aircraft Propeller Exports

Exports in ECOWAS

In 2022, exports of propellers and rotors for civil non-powered aircraft, helicopters and aeroplanes in ECOWAS reduced dramatically to X tons, dropping by -39.7% compared with the year before. Overall, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 349% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, aircraft propeller exports plummeted to $X in 2022. Over the period under review, exports, however, posted a measured increase. The most prominent rate of growth was recorded in 2021 when exports increased by 244%. As a result, the exports attained the peak of $X, and then shrank sharply in the following year.

Exports by Country

Niger (X tons) and Mali (X tons) were the main exporters of propellers and rotors for civil non-powered aircraft, helicopters and aeroplanes in 2022, recording approx. 39% and 28% of total exports, respectively. Nigeria (X tons) held the next position in the ranking, distantly followed by Cote d'Ivoire (X kg). All these countries together held near 26% share of total exports. The following exporters - Burkina Faso (X kg) and Liberia (X kg) - together made up 5% of total exports.

From 2012 to 2022, the biggest increases were recorded for Niger (with a CAGR of +51.8%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Mali ($X), Niger ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of exports in 2022, with a combined 88% share of total exports.

Mali, with a CAGR of +42.6%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, increasing by 4.7% against the previous year. Overall, the export price saw perceptible growth. The most prominent rate of growth was recorded in 2014 an increase of 195% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Liberia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+11.8%), while the other leaders experienced mixed trends in the export price figures.

Aircraft Propeller Imports

Imports in ECOWAS

In 2022, aircraft propeller imports in ECOWAS reduced remarkably to X tons, falling by -26.9% against 2021 figures. Overall, imports, however, showed tangible growth. The most prominent rate of growth was recorded in 2019 with an increase of 177%. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, aircraft propeller imports declined notably to $X in 2022. In general, imports, however, posted a strong increase. The growth pace was the most rapid in 2013 with an increase of 141% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Nigeria (X tons), Niger (X tons) and Cote d'Ivoire (X tons) was the key importer of propellers and rotors for civil non-powered aircraft, helicopters and aeroplanes in ECOWAS, committing 79% of total import. Ghana (X kg) held the next position in the ranking, followed by Mali (X kg). All these countries together held approx. 13% share of total imports. The following importers - Burkina Faso (X kg) and Senegal (X kg) - each finished at a 6.1% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Niger (with a CAGR of +53.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Niger ($X), Nigeria ($X) and Ghana ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 69% of total imports. Cote d'Ivoire, Mali, Senegal and Burkina Faso lagged somewhat behind, together comprising a further 30%.

Among the main importing countries, Mali, with a CAGR of +70.0%, recorded 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 import price in ECOWAS stood at $X per ton in 2022, falling by -2.1% against the previous year. Over the period under review, the import price, however, continues to indicate a prominent expansion. The pace of growth appeared the most rapid in 2017 when the import price increased by 36% against the previous year. The level of import peaked at $X per ton in 2021, and then fell in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Ghana ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (+24.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform