South-Eastern Asia: Aircraft Market 2024

Aircraft Market Size in South-Eastern Asia

The Southeast Asian aircraft market surged to $X in 2022, picking up by 5,682% against the previous year. Over the period under review, consumption saw a significant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Aircraft Production in South-Eastern Asia

In value terms, aircraft production dropped to $X in 2022 estimated in export price. In general, production faced a abrupt setback. The most prominent rate of growth was recorded in 2014 with an increase of 218%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Aircraft Exports

Exports in South-Eastern Asia

In 2022, after two years of growth, there was significant decline in shipments abroad of airplanes and other aircraft, when their volume decreased by -75.1% to X units. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 391%. As a result, the exports reached the peak of X units, and then declined significantly in the following year.

In value terms, aircraft exports fell dramatically to $X in 2022. Over the period under review, exports recorded a drastic downturn. The pace of growth was the most pronounced in 2018 with an increase of 316% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Singapore was the key exporter of airplanes and other aircraft in South-Eastern Asia, with the volume of exports recording X units, which was near 73% of total exports in 2022. It was distantly followed by Thailand (X units), committing a 22% share of total exports. Malaysia (X units) followed a long way behind the leaders.

Singapore was also the fastest-growing in terms of the airplanes and other aircraft exports, with a CAGR of +53.9% from 2012 to 2022. At the same time, Thailand (+5.6%) displayed positive paces of growth. By contrast, Malaysia (-28.7%) illustrated a downward trend over the same period. Singapore (+72 p.p.) and Thailand (+9 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia saw its share reduced by -51.4% from 2012 to 2022, respectively.

In value terms, Singapore ($X) remains the largest aircraft supplier in South-Eastern Asia, comprising 40% of total exports. The second position in the ranking was held by Thailand ($X), with an 8.5% share of total exports.

In Singapore, aircraft exports expanded at an average annual rate of +29.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (-0.8% per year) and Malaysia (-41.3% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2022, increasing by 70% against the previous year. In general, the export price, however, continues to indicate a deep contraction. The growth pace was the most rapid in 2018 when the export price increased by 420%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (-6.1%), while the other leaders experienced a decline in the export price figures.

Aircraft Imports

Imports in South-Eastern Asia

In 2022, purchases abroad of airplanes and other aircraft increased by 6,533% to X units, rising for the third year in a row after two years of decline. Overall, imports recorded a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, aircraft imports rose rapidly to $X in 2022. In general, imports showed a resilient increase. The pace of growth was the most pronounced in 2017 when imports increased by 2,189% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The countries with the highest levels of aircraft imports in 2022 were the Philippines (X units), together accounting for 100% of total import.

The Philippines was also the fastest-growing in terms of the airplanes and other aircraft imports, with a CAGR of +130.5% from 2012 to 2022. While the share of the Philippines (+91 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X) constitutes the largest market for imported airplanes and other aircraft in South-Eastern Asia.

From 2012 to 2022, the average annual rate of growth in terms of value in the Philippines amounted to +60.1%.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per unit, which is down by -98.3% against the previous year. In general, the import price showed a dramatic slump. The most prominent rate of growth was recorded in 2013 when the import price increased by 174%. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for the Philippines.

From 2012 to 2022, the rate of growth in terms of prices for the Philippines amounted to -30.5% per year.

Source: IndexBox Platform

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