Portugal: Aircraft Market 2024

Aircraft Market Size in Portugal

In 2022, after three years of growth, there was significant decline in the Portuguese aircraft market, when its value decreased by -30.7% to $X. In general, consumption, however, saw a buoyant increase. Aircraft consumption peaked at $X in 2021, and then fell dramatically in the following year.

Aircraft Production in Portugal

In value terms, aircraft production rose significantly to $X in 2022 estimated in export price. Over the period under review, production showed a strong increase. The pace of growth appeared the most rapid in 2020 when the production volume increased by 40% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Aircraft Exports

Exports from Portugal

In 2022, the amount of airplanes and other aircraft exported from Portugal declined markedly to X units, which is down by -59.3% on the year before. In general, exports showed a abrupt decrease. The pace of growth was the most pronounced in 2020 when exports increased by 457% against the previous year. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, aircraft exports contracted remarkably to $X in 2022. Over the period under review, exports continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2020 when exports increased by 875% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Spain (X units) was the main destination for aircraft exports from Portugal, with a 27% share of total exports. Moreover, aircraft exports to Spain exceeded the volume sent to the second major destination, Romania (X units), threefold. The United States (X units) ranked third in terms of total exports with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Spain stood at +4.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-41.5% per year) and the United States (0.0% per year).

In value terms, Slovakia ($X), Spain ($X) and Romania ($X) were the largest markets for aircraft exported from Portugal worldwide, together accounting for 69% of total exports. Ireland, France, Sri Lanka, China, the UK and the United States lagged somewhat behind, together comprising a further 31%.

Ireland, with a CAGR of +20.8%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average aircraft export price stood at $X per unit in 2022, surging by 14% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average export price increased by 75% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2021 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Slovakia ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria (+241.9%), while the prices for the other major destinations experienced more modest paces of growth.

Aircraft Imports

Imports into Portugal

After five years of growth, overseas purchases of airplanes and other aircraft decreased by -59.7% to X units in 2022. Overall, imports, however, enjoyed significant growth. The growth pace was the most rapid in 2018 when imports increased by 367% against the previous year. Over the period under review, imports reached the maximum at X units in 2021, and then reduced rapidly in the following year.

In value terms, aircraft imports soared to $X in 2022. In general, imports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2014 when imports increased by 621% 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, Spain (X units) constituted the largest aircraft supplier to Portugal, with a 78% share of total imports. Moreover, aircraft imports from Spain exceeded the figures recorded by the second-largest supplier, the Czech Republic (X units), more than tenfold. Belgium (X units) ranked third in terms of total imports with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain stood at +46.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (0.0% per year) and Belgium (0.0% per year).

In value terms, the largest aircraft suppliers to Portugal were Belgium ($X), the Czech Republic ($X) and Spain ($X), together accounting for 89% of total imports.

In terms of the main suppliers, Spain, with a CAGR of +64.7%, saw the highest growth rate of 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

In 2022, the average aircraft import price amounted to $X per unit, picking up by 437% against the previous year. Over the period under review, the import price posted a buoyant increase. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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 Belgium ($X per unit), while the price for South Africa ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+12.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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