Thailand: Aircraft Market 2024

Aircraft Market Size in Thailand

In 2022, the Thai aircraft market increased by 50% to $X for the first time since 2017, thus ending a four-year declining trend. Overall, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Aircraft Production in Thailand

In value terms, aircraft production amounted to less than $X in 2022 estimated in export price. Overall, production enjoyed a significant expansion. The most prominent rate of growth was recorded in 2016 with a decrease of 99.9%. Aircraft production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Aircraft Exports

Exports from Thailand

In 2022, after two years of growth, there was significant decline in shipments abroad of airplanes and other aircraft, when their volume decreased by -87.7% to X units. Over the period under review, exports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 1,525%. As a result, the exports reached the peak of X units, and then reduced remarkably in the following year.

In value terms, aircraft exports fell notably to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 13,895% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China (X units) was the main destination for aircraft exports from Thailand, with a 54% share of total exports. Moreover, aircraft exports to China exceeded the volume sent to the second major destination, Singapore (X units), twofold. The third position in this ranking was taken by France (X units), with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at +179.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+39.5% per year) and France (0.0% per year).

In value terms, Italy ($X) emerged as the key foreign market for airplanes and other aircraft exports from Thailand, comprising 55% of total exports. The second position in the ranking was taken by China ($X), with a 22% share of total exports. It was followed by Singapore, with a 7.8% share.

From 2012 to 2022, the average annual growth rate of value to Italy stood at +74.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+207.5% per year) and Singapore (+51.5% per year).

Export Prices by Country

The average aircraft export price stood at $X per unit in 2022, jumping by 275% against the previous year. Over the period under review, the export price, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2018 when the average export price increased by 5,676% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to France ($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 China (+10.0%), while the prices for the other major destinations experienced mixed trend patterns.

Aircraft Imports

Imports into Thailand

In 2022, supplies from abroad of airplanes and other aircraft decreased by -54.4% to X units for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2017 when imports increased by 3,998% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, aircraft imports contracted rapidly to $X in 2022. Over the period under review, imports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2017 when imports increased by 6,137% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Austria (X units), the United States (X units) and Singapore (X units) were the main suppliers of aircraft imports to Thailand, with a combined 66% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Singapore (with a CAGR of +55.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X) constituted the largest supplier of airplanes and other aircraft to Thailand, comprising 64% of total imports. The second position in the ranking was taken by the United States ($X), with a 29% share of total imports. It was followed by China, with a 1.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Austria totaled +25.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+13.6% per year) and China (+11.1% per year).

Import Prices by Country

In 2022, the average aircraft import price amounted to $X per unit, with a decrease of -15.5% against the previous year. Over the period under review, the import price, however, posted a perceptible increase. The pace of growth was the most pronounced in 2018 an increase of 60%. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per unit), while the price for Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+20.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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