Turkey: Aircraft Market 2024

Aircraft Market Size in Turkey

The Turkish aircraft market surged to $X in 2022, growing by 57% against the previous year. Over the period under review, consumption recorded prominent growth. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Aircraft Production in Turkey

In value terms, aircraft production surged to $X in 2022 estimated in export price. In general, production, however, continues to indicate a significant increase. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Aircraft Exports

Exports from Turkey

In 2022, after three years of growth, there was significant decline in overseas shipments of airplanes and other aircraft, when their volume decreased by -86.8% to X units. Overall, exports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 6,600% against the previous year. Over the period under review, the exports hit record highs at X units in 2021, and then reduced notably in the following year.

In value terms, aircraft exports reduced sharply to $X in 2022. Over the period under review, exports continue to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2019 with an increase of 27,126%. Over the period under review, the exports hit record highs at $X in 2021, and then declined dramatically in the following year.

Exports by Country

Azerbaijan (X units) was the main destination for aircraft exports from Turkey, accounting for a 94% share of total exports. It was followed by Germany (X units), with a 2% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Azerbaijan stood at +209.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+7.2% per year) and Kyrgyzstan (-99.6% per year).

In value terms, Azerbaijan ($X) remains the key foreign market for airplanes and other aircraft exports from Turkey, comprising 72% of total exports. The second position in the ranking was held by Germany ($X), with a 13% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Azerbaijan amounted to +420.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+0.2% per year) and Kyrgyzstan (-100.0% per year).

Export Prices by Country

In 2022, the average aircraft export price amounted to $X per unit, dropping by -98.1% against the previous year. In general, the export price saw a dramatic slump. The pace of growth was the most pronounced in 2018 an increase of 575% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

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 Germany ($X per unit), while the average price for exports to Azerbaijan ($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 Azerbaijan (+68.1%), while the prices for the other major destinations experienced a decline.

Aircraft Imports

Imports into Turkey

In 2022, overseas purchases of airplanes and other aircraft decreased by -21.4% to X units for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 315% against the previous year. Imports peaked at X units in 2021, and then dropped significantly in the following year.

In value terms, aircraft imports shrank to $X in 2022. Over the period under review, imports, however, posted a resilient increase. The pace of growth appeared the most rapid in 2013 with an increase of 233% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest aircraft supplier to Turkey, with a 89% share of total imports. It was followed by the United States (X units), with a 2.8% share of total imports. The Czech Republic (X units) ranked third in terms of total imports with a 1.5% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +95.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+1.7% per year) and the Czech Republic (+5.8% per year).

In value terms, the largest aircraft suppliers to Turkey were Austria ($X), China ($X) and the United States ($X), together accounting for 50% of total imports.

China, with a CAGR of +96.6%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average aircraft import price amounted to $X per unit, increasing by 18% against the previous year. Overall, the import price, however, continues to indicate a pronounced setback. The most prominent rate of growth was recorded in 2013 an increase of 115% against the previous year. The import price peaked at $X per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

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 Austria ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+17.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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