Philippines: Aircraft Propeller Market 2024

Aircraft Propeller Market Size in the Philippines

The Philippine aircraft propeller market fell to $X in 2022, which is down by -9.1% against the previous year. Overall, consumption faced a deep setback. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Aircraft Propeller Production in the Philippines

In value terms, aircraft propeller production reduced to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the production volume increased by 37%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Aircraft Propeller Exports

Exports from the Philippines

In 2022, after three years of decline, there was significant growth in overseas shipments of propellers and rotors for civil non-powered aircraft, helicopters and aeroplanes, when their volume increased by 82% to X kg. Overall, exports, however, recorded a dramatic shrinkage. The pace of growth was the most pronounced in 2018 with an increase of 1,954%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, aircraft propeller exports skyrocketed to $X in 2022. In general, exports continue to indicate a pronounced expansion. The pace of growth was the most pronounced in 2017 when exports increased by 879% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X kg) was the main destination for aircraft propeller exports from the Philippines, accounting for a 92% share of total exports. Moreover, aircraft propeller exports to the United States exceeded the volume sent to the second major destination, Belgium (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +26.2%.

In value terms, the United States ($X) remains the key foreign market for propellers and rotors for civil non-powered aircraft, helicopters and aeroplanes exports from the Philippines, comprising 79% of total exports. The second position in the ranking was taken by Belgium ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +23.6%.

Export Prices by Country

The average aircraft propeller export price stood at $X per ton in 2022, with an increase of 173% against the previous year. Overall, the export price enjoyed a significant increase. The most prominent rate of growth was recorded in 2017 an increase of 603% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to the United States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+94.4%), while the prices for the other major destinations experienced more modest paces of growth.

Aircraft Propeller Imports

Imports into the Philippines

Aircraft propeller imports into the Philippines declined to X tons in 2022, shrinking by -6.5% compared with the year before. Overall, imports saw a abrupt decrease. The pace of growth appeared the most rapid in 2019 when imports increased by 392%. 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 rose significantly to $X in 2022. Over the period under review, imports, however, showed a resilient expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 2,903% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, France (X tons) constituted the largest aircraft propeller supplier to the Philippines, accounting for a 50% share of total imports. Moreover, aircraft propeller imports from France exceeded the figures recorded by the second-largest supplier, the United States (X kg), threefold. The Czech Republic (X kg) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from France amounted to +42.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-26.6% per year) and the Czech Republic (+10.3% per year).

In value terms, France ($X) constituted the largest supplier of propellers and rotors for civil non-powered aircraft, helicopters and aeroplanes to the Philippines, comprising 56% of total imports. The second position in the ranking was held by the United States ($X), with a 21% share of total imports. It was followed by the UK, with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from France amounted to +61.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-8.9% per year) and the UK (+61.3% per year).

Import Prices by Country

In 2022, the average aircraft propeller import price amounted to $X per ton, picking up by 20% against the previous year. Overall, the import price saw a significant expansion. The growth pace was the most rapid in 2019 when the average import price increased by 511%. The import price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+167.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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