Serbia: Market for Spark-Ignition Reciprocating Or Rotary Internal Combustion Piston Engines For Aircraft 2024

Market Size for Spark-Ignition Reciprocating Or Rotary Internal Combustion Piston Engines For Aircraft in Serbia

The Serbian aircraft internal combustion engine market contracted notably to $X in 2022, which is down by -69.2% against the previous year. Over the period under review, consumption continues to indicate a abrupt contraction. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Spark-Ignition Reciprocating Or Rotary Internal Combustion Piston Engines For Aircraft in Serbia

In value terms, aircraft internal combustion engine production amounted to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 43%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Exports of Spark-Ignition Reciprocating Or Rotary Internal Combustion Piston Engines For Aircraft

Exports from Serbia

In 2022, shipments abroad of spark-ignition reciprocating or rotary internal combustion piston engines for aircraft increased by 50% to X units, rising for the third year in a row after two years of decline. In general, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2015 with an increase of 330%. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, aircraft internal combustion engine exports soared to $X in 2022. Overall, exports enjoyed significant growth. The pace of growth was the most pronounced in 2015 with an increase of 497%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Turkey (X units) was the main destination for aircraft internal combustion engine exports from Serbia, with a 58% share of total exports. Moreover, aircraft internal combustion engine exports to Turkey exceeded the volume sent to the second major destination, North Macedonia (X units), sevenfold. The third position in this ranking was held by Denmark (X units), with an 8.3% share.

From 2012 to 2022, the average annual growth rate of volume to Turkey was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (+7.2% per year) and Denmark (0.0% per year).

In value terms, Turkey ($X), Denmark ($X) and Kyrgyzstan ($X) were the largest markets for aircraft internal combustion engine exported from Serbia worldwide, together comprising 86% of total exports. Pakistan, the UK, North Macedonia and Croatia lagged somewhat behind, together accounting for a further 14%.

Among the main countries of destination, North Macedonia, with a CAGR of +59.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average aircraft internal combustion engine export price stood at $X per unit in 2022, rising by 102% against the previous year. Overall, the export price recorded a resilient expansion. The most prominent rate of growth was recorded in 2020 an increase of 117% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Denmark ($X per unit), while the average price for exports to Croatia ($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 North Macedonia (+48.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Spark-Ignition Reciprocating Or Rotary Internal Combustion Piston Engines For Aircraft

Imports into Serbia

In 2022, approx. X units of spark-ignition reciprocating or rotary internal combustion piston engines for aircraft were imported into Serbia; reducing by -67% compared with the previous year's figure. Overall, imports showed a abrupt slump. The pace of growth appeared the most rapid in 2017 with an increase of 405% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, aircraft internal combustion engine imports reduced to $X in 2022. In general, imports, however, showed prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of 2,834%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Germany (X units) constituted the largest supplier of aircraft internal combustion engine to Serbia, with a 63% share of total imports. Moreover, aircraft internal combustion engine imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X units), fourfold. The third position in this ranking was held by Bulgaria (X units), with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany totaled +25.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+2.3% per year) and Bulgaria (0.0% per year).

In value terms, Germany ($X) constituted the largest supplier of spark-ignition reciprocating or rotary internal combustion piston engines for aircraft to Serbia, comprising 93% of total imports. The second position in the ranking was held by Italy ($X), with a 5.3% share of total imports. It was followed by France, with a 1% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +60.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-3.7% per year) and France (+6.3% per year).

Import Prices by Country

The average aircraft internal combustion engine import price stood at $X per unit in 2022, surging by 175% against the previous year. Overall, the import price saw a resilient expansion. The pace of growth appeared the most rapid in 2020 an increase of 1,410% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual 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 Germany ($X per unit), while the price for Bulgaria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+176,100.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform