Venezuela: Aircraft Propeller Market 2024

Aircraft Propeller Market Size in Venezuela

The Venezuelan aircraft propeller market was finally on the rise to reach $X in 2022, after two years of decline. Over the period under review, consumption, however, continues to indicate a abrupt curtailment. Aircraft propeller consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Aircraft Propeller Production in Venezuela

In value terms, aircraft propeller production totaled $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 63%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Aircraft Propeller Exports

Exports from Venezuela

In 2022, aircraft propeller exports from Venezuela shrank dramatically to X kg, reducing by -35.9% against the year before. Over the period under review, exports showed a abrupt downturn. The pace of growth appeared the most rapid in 2021 with an increase of 252%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, aircraft propeller exports dropped significantly to $X in 2022. In general, exports recorded a abrupt setback. The pace of growth appeared the most rapid in 2021 when exports increased by 106%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X kg) was the main destination for aircraft propeller exports from Venezuela, with a 71% share of total exports. Moreover, aircraft propeller exports to the United States exceeded the volume sent to the second major destination, the Czech Republic (X kg), threefold.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled -3.7%.

In value terms, the United States ($X) remains the key foreign market for propellers and rotors for civil non-powered aircraft, helicopters and aeroplanes exports from Venezuela, comprising 97% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with a 2.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled -16.6%.

Export Prices by Country

In 2022, the average aircraft propeller export price amounted to $X per ton, increasing by 16% against the previous year. In general, the export price, however, recorded a drastic downturn. The pace of growth was the most pronounced in 2014 when the average export price increased by 58%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a 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 the United States ($X per ton), while the average price for exports to the Czech Republic amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (-12.5%).

Aircraft Propeller Imports

Imports into Venezuela

In 2022, after two years of decline, there was growth in supplies from abroad of propellers and rotors for civil non-powered aircraft, helicopters and aeroplanes, when their volume increased by 3.9% to X tons. Over the period under review, imports, however, continue to indicate a deep slump. The growth pace was the most rapid in 2019 when imports increased by 771%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, aircraft propeller imports reached $X in 2022. Overall, imports, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 377% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States (X tons), Russia (X kg) and Poland (X kg) were the main suppliers of aircraft propeller imports to Venezuela, together accounting for 90% of total imports. Brazil, the Czech Republic, Panama and Ukraine lagged somewhat behind, together comprising a further 8.8%.

From 2012 to 2022, the biggest increases were recorded for Panama (with a CAGR of +32.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) constituted the largest supplier of propellers and rotors for civil non-powered aircraft, helicopters and aeroplanes to Venezuela, comprising 69% of total imports. The second position in the ranking was taken by the United States ($X), with a 21% share of total imports. It was followed by Panama, with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Russia stood at +15.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-24.1% per year) and Panama (+47.9% per year).

Import Prices by Country

The average aircraft propeller import price stood at $X per ton in 2022, dropping by -2.3% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 90% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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 Russia ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+11.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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