ECOWAS: Market for Turbo-Jets Of A Thrust Not Exceeding 25 kN 2024

Market Size for Turbo-Jets Of A Thrust Not Exceeding 25 kN in ECOWAS

The ECOWAS turbo-jet (under X kN) market dropped to $X in 2022, waning by -8.8% against the previous year. In general, consumption, however, posted a resilient increase. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Turbo-Jets Of A Thrust Not Exceeding X kN in ECOWAS

In value terms, turbo-jet (under X kN) production fell to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a strong expansion. The growth pace was the most rapid in 2015 when the production volume increased by 255% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Turbo-Jets Of A Thrust Not Exceeding 25 kN

Exports in ECOWAS

In 2022, overseas shipments of turbo-jets of a thrust not exceeding X kN decreased by -16.7% to X units for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, posted a strong expansion. The pace of growth was the most pronounced in 2013 when exports increased by 833%. The volume of export peaked at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, turbo-jet (under X kN) exports fell slightly to $X in 2022. Over the period under review, exports, however, recorded a significant expansion. The growth pace was the most rapid in 2013 when exports increased by 2,448%. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Nigeria (X units) was the major exporter of turbo-jets of a thrust not exceeding X kN, making up 80% of total exports. It was distantly followed by Ghana (X units), achieving a 20% share of total exports.

Nigeria was also the fastest-growing in terms of the turbo-jets of a thrust not exceeding X kN exports, with a CAGR of +7.2% from 2012 to 2022. Ghana experienced a relatively flat trend pattern. While the share of Nigeria (+13 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Ghana (-13.3 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) remains the largest turbo-jet (under X kN) supplier in ECOWAS, comprising 96% of total exports. The second position in the ranking was taken by Ghana ($X), with a 4% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Nigeria stood at +28.4%.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, increasing by 19% against the previous year. Over the period under review, the export price enjoyed a resilient expansion. The pace of growth was the most pronounced in 2018 when the export price increased by 263%. Over the period under review, the export prices reached the maximum at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+19.8%).

Imports of Turbo-Jets Of A Thrust Not Exceeding 25 kN

Imports in ECOWAS

In 2022, the amount of turbo-jets of a thrust not exceeding X kN imported in ECOWAS dropped rapidly to X units, which is down by -30.6% compared with 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 212% 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, turbo-jet (under X kN) imports dropped dramatically to $X in 2022. Overall, imports saw a perceptible curtailment. The pace of growth was the most pronounced in 2013 when imports increased by 376%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The countries with the highest levels of turbo-jet (under X kN) imports in 2022 were Nigeria (X units), Cote d'Ivoire (X units) and Ghana (X units), together recording 84% of total import. It was distantly followed by Senegal (X units), achieving a 16% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Senegal (with a CAGR of +16.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported turbo-jets of a thrust not exceeding X kN in ECOWAS, comprising 55% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 23% share of total imports. It was followed by Ghana, with an 11% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria amounted to -10.0%. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (+43.0% per year) and Ghana (+40.5% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2022, surging by 16% against the previous year. In general, the import price, however, continues to indicate a abrupt setback. The pace of growth was the most pronounced in 2013 when the import price increased by 167% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+40.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform