Scandinavia: Aircraft Propeller Market 2024

Aircraft Propeller Market Size in Scandinavia

After three years of decline, the Scandinavia aircraft propeller market increased by 1.1% to $X in 2022. In general, consumption, however, saw a pronounced curtailment. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Aircraft Propeller Production in Scandinavia

In value terms, aircraft propeller production stood at $X in 2022 estimated in export price. Overall, production, however, showed a dramatic downturn. The growth pace was the most rapid in 2018 when the production volume increased by 1,278,144,700%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Aircraft Propeller Exports

Exports in Scandinavia

In 2022, approx. X tons of propellers and rotors for civil non-powered aircraft, helicopters and aeroplanes were exported in Scandinavia; which is down by -14.9% compared with the year before. Overall, exports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2016 with an increase of 75% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, aircraft propeller exports fell to $X in 2022. In general, exports saw a mild contraction. The growth pace was the most rapid in 2016 with an increase of 93% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Norway was the key exporting country with an export of about X tons, which accounted for 80% of total exports. It was distantly followed by Sweden (X tons), achieving an 18% share of total exports. Finland (X kg) took a minor share of total exports.

Norway was also the fastest-growing in terms of the propellers and rotors for civil non-powered aircraft, helicopters and aeroplanes exports, with a CAGR of +2.1% from 2012 to 2022. Finland (-7.8%) and Sweden (-17.0%) illustrated a downward trend over the same period. While the share of Norway (+45 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Sweden (-44.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Norway ($X) remains the largest aircraft propeller supplier in Scandinavia, comprising 72% of total exports. The second position in the ranking was taken by Sweden ($X), with a 27% share of total exports.

In Norway, aircraft propeller exports shrank by an average annual rate of -1.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Sweden (-0.9% per year) and Finland (-9.7% per year).

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, rising by 5% against the previous year. Export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, aircraft propeller export price increased by +53.6% against 2019 indices. The pace of growth appeared the most rapid in 2015 when the export price increased by 84% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 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 Sweden ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+19.5%), while the other leaders experienced a decline in the export price figures.

Aircraft Propeller Imports

Imports in Scandinavia

Aircraft propeller imports contracted to X tons in 2022, shrinking by -6% against 2021. Total imports indicated a slight increase from 2012 to 2022: its volume increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -24.0% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 51%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, aircraft propeller imports reduced modestly to $X in 2022. In general, imports, however, enjoyed prominent growth. The pace of growth was the most pronounced in 2014 when imports increased by 84% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Norway represented the largest importing country with an import of about X tons, which recorded 75% of total imports. It was distantly followed by Sweden (X tons), creating a 22% share of total imports. Finland (X tons) followed a long way behind the leaders.

Norway was also the fastest-growing in terms of the propellers and rotors for civil non-powered aircraft, helicopters and aeroplanes imports, with a CAGR of +7.2% from 2012 to 2022. At the same time, Finland (+6.4%) displayed positive paces of growth. By contrast, Sweden (-7.7%) illustrated a downward trend over the same period. While the share of Norway (+32 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Sweden (-33.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Norway ($X) constitutes the largest market for imported propellers and rotors for civil non-powered aircraft, helicopters and aeroplanes in Scandinavia, comprising 91% of total imports. The second position in the ranking was taken by Sweden ($X), with a 6.5% share of total imports.

In Norway, aircraft propeller imports expanded at an average annual rate of +15.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Sweden (-10.2% per year) and Finland (+11.7% per year).

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per ton, surging by 3.3% against the previous year. Import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +7.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, aircraft propeller import price increased by +3.3% against 2019 indices. The most prominent rate of growth was recorded in 2016 an increase of 30% against the previous year. Over the period under review, import prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+7.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform