MENA: Aircraft Market 2024

Aircraft Market Size in MENA

The MENA's aircraft market expanded rapidly to $X in 2022, rising by 12% against the previous year. Over the period under review, consumption posted prominent growth. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Aircraft Production in MENA

In value terms, aircraft production dropped modestly to $X in 2022 estimated in export price. Overall, production, however, saw a perceptible expansion. The pace of growth was the most pronounced in 2015 when the production volume increased by 258% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Aircraft Exports

Exports in MENA

Aircraft exports contracted significantly to X units in 2022, which is down by -82.4% compared with the previous year's figure. Overall, exports showed a perceptible downturn. The most prominent rate of growth was recorded in 2019 when exports increased by 667%. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, aircraft exports shrank significantly to $X in 2022. Over the period under review, exports showed a abrupt decrease. The growth pace was the most rapid in 2019 with an increase of 533%. Over the period under review, the exports attained the peak figure at $X in 2021, and then dropped sharply in the following year.

Exports by Country

Israel (X units) and Turkey (X units) dominates exports structure, together generating 94% of total exports. The following exporters - the United Arab Emirates (X units) and Morocco (X units) - each accounted for a 4.1% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Turkey (with a CAGR of +36.0%), while the other leaders experienced more modest paces of growth.

In value terms, Israel ($X) emerged as the largest aircraft supplier in MENA, comprising 89% of total exports. The second position in the ranking was held by Turkey ($X), with a 4.5% share of total exports. It was followed by Morocco, with a 1.6% share.

From 2012 to 2022, the average annual growth rate of value in Israel amounted to -10.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (-4.3% per year) and Morocco (+5.0% per year).

Export Prices by Country

The export price in MENA stood at $X per unit in 2022, shrinking by -73.3% against the previous year. Overall, the export price continues to indicate a deep slump. The most prominent rate of growth was recorded in 2015 an increase of 386%. As a result, the export price reached the peak level of $X per unit. From 2016 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 Israel ($X per unit), while Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (-1.2%), while the other leaders experienced a decline in the export price figures.

Aircraft Imports

Imports in MENA

In 2022, the amount of airplanes and other aircraft imported in MENA declined sharply to X units, dropping by -30.9% on 2021. Over the period under review, imports, however, posted a strong increase. The pace of growth appeared the most rapid in 2017 when imports increased by 1,027% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, aircraft imports dropped notably to $X in 2022. Overall, imports continue to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2020 with an increase of 759%. Over the period under review, imports attained the maximum at $X in 2021, and then contracted notably in the following year.

Imports by Country

The United Arab Emirates was the largest importing country with an import of around X units, which recorded 57% of total imports. It was distantly followed by Turkey (X units), constituting a 33% share of total imports. Iraq (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +23.7%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest aircraft importing markets in MENA were the United Arab Emirates ($X), Turkey ($X) and Iraq ($X), with a combined 85% share of total imports.

Turkey, with a CAGR of +14.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in MENA amounted to $X per unit, waning by -93.6% against the previous year. In general, the import price faced a abrupt decrease. The pace of growth appeared the most rapid in 2021 when the import price increased by 319%. As a result, import price reached the peak level of $X per unit, and then contracted significantly 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 Iraq ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (-4.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform