In 2023, the import of aircraft parts to Nigeria stood at an actual value of $109.18 million. Forecasts for 2024 predict an increase to $113.64 million, representing a 4.1% year-on-year growth compared to 2023. Subsequent years see a continuous rise, with values projected at $118.45 million in 2025 (4.2% increase), $123.17 million in 2026 (4.0% increase), $127.79 million in 2027 (3.7% increase), and $132.33 million in 2028 (3.5% increase).

Over the five-year period from 2024 to 2028, the Compound Annual Growth Rate (CAGR) for aircraft parts imports to Nigeria is approximately 3.9%.

Future trends to watch for include:

Fluctuations in global trade policies impacting import prices and volumes.
Technological advancements in the aerospace industry reducing the need for imported parts.
Potential growth of domestic aircraft parts manufacturing affecting import dependency.