ECOWAS: Market for Turbo-Jets Of A Thrust Exceeding 25 kN 2024

Market Size for Turbo-Jets Of A Thrust Exceeding 25 kN in ECOWAS

The ECOWAS turbo-jet (over X kn) market fell to $X in 2021, dropping by -2.6% against the previous year. Overall, consumption, however, continues to indicate a pronounced slump. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Production of Turbo-Jets Of A Thrust Exceeding X kN in ECOWAS

In value terms, turbo-jet (over X kn) production contracted markedly to $X in 2021 estimated in export price. Over the period under review, production showed a abrupt decrease. The pace of growth was the most pronounced in 2018 with an increase of 48%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Turbo-Jets Of A Thrust Exceeding 25 kN

Exports in ECOWAS

In 2021, approx. X units of turbo-jets of a thrust exceeding X kn were exported in ECOWAS; shrinking by -25% on the previous year's figure. In general, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 300% against the previous year. The volume of export peaked at X units in 2020, and then dropped significantly in the following year.

In value terms, turbo-jet (over X kn) exports fell rapidly to $X in 2021. Overall, exports saw a dramatic descent. The growth pace was the most rapid in 2018 when exports increased by 2,652%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from Nigeria (X units), together reaching 100% of total export.

Nigeria was also the fastest-growing in terms of the turbo-jets of a thrust exceeding X kn exports, with a CAGR of +4.6% from 2012 to 2021. Nigeria (+33 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) also remains the largest turbo-jet (over X kn) supplier in ECOWAS.

In Nigeria, turbo-jet (over X kn) exports declined by an average annual rate of -5.7% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per unit, dropping by -56.9% against the previous year. Overall, the export price recorded a dramatic shrinkage. The growth pace was the most rapid in 2018 when the export price increased by 588%. The level of export peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Nigeria.

From 2012 to 2021, the rate of growth in terms of prices for Nigeria amounted to -8.8% per year.

Imports of Turbo-Jets Of A Thrust Exceeding 25 kN

Imports in ECOWAS

In 2021, approx. X units of turbo-jets of a thrust exceeding X kn were imported in ECOWAS; picking up by 80% on 2020. In general, imports, however, showed a deep slump. The most prominent rate of growth was recorded in 2017 when imports increased by 1,689% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, turbo-jet (over X kn) imports soared to $X in 2021. Overall, imports enjoyed prominent growth. The growth pace was the most rapid in 2017 when imports increased by 3,900% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Ghana was the major importing country with an import of about X units, which finished at 78% of total imports. Nigeria (X units) took an 11% share (based on physical terms) of total imports, which put it in second place, followed by Mali (5.6%). The following importers - Cote d'Ivoire (X units) and Burkina Faso (X units) - each recorded a 5.6% share of total imports.

Ghana was also the fastest-growing in terms of the turbo-jets of a thrust exceeding X kn imports, with a CAGR of +28.2% from 2012 to 2021. Cote d'Ivoire experienced a relatively flat trend pattern. Mali (-7.4%), Burkina Faso (-18.1%) and Nigeria (-19.1%) illustrated a downward trend over the same period. Ghana (+76 p.p.), Mali (+2.7 p.p.) and Cote d'Ivoire (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by -7.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Burkina Faso ($X) constitutes the largest market for imported turbo-jets of a thrust exceeding X kn in ECOWAS, comprising 84% of total imports. The second position in the ranking was taken by Ghana ($X), with a 6.2% share of total imports. It was followed by Mali, with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Burkina Faso amounted to +25.2%. In the other countries, the average annual rates were as follows: Ghana (+47.7% per year) and Mali (+21.3% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2021, with an increase of 63% against the previous year. Overall, the import price recorded a significant increase. The pace of growth was the most pronounced in 2018 when the import price increased by 1,693%. The level of import peaked in 2021 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Burkina Faso ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+52.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform