Trade Trends
Global exports of spark-ignition aircraft engines declined sharply from $6.26B in 2019 to $3.78B in 2023, marking a significant 39.74% drop over five years. The steepest fall occurred between 2019 and 2021, with only partial recovery visible in 2022 and 2023.
This downturn reflects major disruptions in the aviation sector, including the global pandemic’s impact on air travel, supply chain interruptions, manufacturing delays, and shifting investment priorities. While there have been signs of recovery, export levels remain far below pre-2019 performance, indicating opportunities for innovation, diversification, and modernization within the aerospace engine industry.
Top Trading Countries
- Thailand led global exports in 2023 with $1.15B, rising from $894.54M in 2019—an increase of 28.6%. However, exports are projected to fall sharply to $444.48M in 2024, a 61.36% decline.
- Saudi Arabia recorded $622.30M in 2023, up from $438.33M in 2019 (41.97% growth). Projections for 2024 show a decline to $456.76M, down 26.6% from 2023.
- United Arab Emirates exported $381.33M in 2023, significantly lower than $1.45B in 2019—a 73.74% decrease.
- Singapore saw exports fall dramatically from $2.05B in 2019 to $322.84M in 2023, an 84.24% drop.
- Oman reported strong growth, rising from $176.24M in 2019 to $255.02M in 2023—an increase of 44.7%.
- United States exported $157.92M in 2023, down 41.19% from $268.52M in 2019. Yet projections show a rebound to $213.96M in 2024, up 35.49% from 2023.
- Austria saw significant expansion, rising from $46.02M in 2019 to $88.43M in 2023 (92.16% increase), with further growth to $107.31M projected in 2024 (21.35% rise).
- India declined from $204.41M in 2019 to $84.80M in 2023, a 58.51% drop, with a slight projected decline to $83.36M in 2024.
On the Rise
- Switzerland emerged as a fast-growing exporter, increasing exports from $1.72M in 2019 to $5.10M in 2023—up 195.81%. Growth is expected to continue to $8.14M in 2024, a 59.68% rise.
- Colombia showed steady progress, growing from $1.75M in 2019 to $2.51M in 2023 (42.95% increase), and further to $2.81M in 2024, up 11.87%.
These rising exporters highlight niche opportunities within the aircraft engine market, especially among smaller economies expanding their aerospace capabilities.
Disclaimer
These insights are based on available trade data and may not represent the full market reality.
