Key Market Indicators
Iceland's aerospace import market is projected to decline to $111 million by 2028 from $131 million in 2023, experiencing an average annual decrease of 2.7%. This downturn follows a long-term trend, as the country's demand has been shrinking by 8.8% year on year since 1993. In the global ranking for 2023, Iceland held the 22nd position, with Denmark leading at the same $131 million mark. Singapore, Ireland, and Canada secured the second, third, and fourth spots, respectively. Conversely, Iceland's aerospace exports are on an upward trajectory, expected to reach $162 million by 2028 from $145 million in 2023. This growth represents a compound annual growth rate (CAGR) of 1.8%. Historically, Iceland's export supply has surged by 144% annually since 1993. Despite this progress, the country ranked 25th in 2023, with Slovenia surpassing it at the $145 million mark. France, Germany, and Singapore occupied the second, third, and fourth positions in this category.
