Singapore: Aircraft Market 2025

Aircraft Market Size in Singapore

The Singaporean aircraft market amounted to $X in 2022, with an increase of 2.5% against the previous year. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Aircraft Production in Singapore

In value terms, aircraft production stood at less than $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the production volume decreased by 99.9% against the previous year. Aircraft production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Aircraft Exports

Exports from Singapore

In 2022, after two years of growth, there was significant decline in overseas shipments of airplanes and other aircraft, when their volume decreased by -65.6% to X units. In general, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 292% against the previous year. The exports peaked at X units in 2021, and then dropped notably in the following year.

In value terms, aircraft exports reduced dramatically to $X in 2022. Overall, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 879% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Spain (X units) was the main destination for aircraft exports from Singapore, accounting for a 60% share of total exports. Moreover, aircraft exports to Spain exceeded the volume sent to the second major destination, Australia (X units), sixfold. The third position in this ranking was held by Finland (X units), with a 9.4% share.

From 2012 to 2022, the average annual growth rate of volume to Spain was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+68.8% per year) and Finland (-37.3% per year).

In value terms, Australia ($X) remains the key foreign market for airplanes and other aircraft exports from Singapore, comprising 60% of total exports. The second position in the ranking was taken by Indonesia ($X), with an 11% share of total exports. It was followed by Finland, with a 6.9% share.

From 2012 to 2022, the average annual growth rate of value to Australia amounted to +34.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+3.8% per year) and Finland (-35.0% per year).

Export Prices by Country

The average aircraft export price stood at $X per unit in 2022, falling by -46.5% against the previous year. Over the period under review, the export price saw a abrupt decline. The pace of growth appeared the most rapid in 2015 an increase of 226%. Over the period under review, the average export prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while the average price for exports to Sri Lanka ($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 Pakistan (+3.8%), while the prices for the other major destinations experienced mixed trend patterns.

Aircraft Imports

Imports into Singapore

In 2022, purchases abroad of airplanes and other aircraft decreased by -65.1% to X units, falling for the second consecutive year after two years of growth. Overall, imports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 2,680%. Imports peaked at X units in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, aircraft imports fell rapidly to $X in 2022. In general, imports, however, continue to indicate significant growth. The growth pace was the most rapid in 2017 when imports increased by 722%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of aircraft to Singapore, accounting for a 85% share of total imports. Moreover, aircraft imports from China exceeded the figures recorded by the second-largest supplier, Belgium (X units), more than tenfold. The third position in this ranking was taken by the United States (X units), with a 2.2% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+22.0% per year) and the United States (+23.1% per year).

In value terms, China ($X) constituted the largest supplier of airplanes and other aircraft to Singapore, comprising 52% of total imports. The second position in the ranking was held by the Czech Republic ($X), with a 13% share of total imports. It was followed by the United States, with a 7.5% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +14.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (0.0% per year) and the United States (+59.3% per year).

Import Prices by Country

The average aircraft import price stood at $X per unit in 2022, picking up by 19% against the previous year. In general, the import price, however, faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 when the average import price increased by 297% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Czech Republic ($X per unit), while the price for Belgium ($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 United States (+29.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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