In 2023, the import value of aircraft parts to Saudi Arabia stood at 2.5352 billion USD. There has been an overall growth trend from 2013 to 2023, although it was punctuated with periods of decline and recovery. Significant year-on-year variations include a peak increase of 71.31% in 2015 and notable declines of -19.87% in 2017 and -11.17% in 2016. The last two years saw a steadier growth, with a 7.37% increase in 2022 and a modest 1.92% in 2023. Over the last five years, the CAGR averaged 1.79%, indicating moderate growth.
Looking forward, the forecasted period from 2024 to 2028 suggests a gradual but consistent increase in imports, with a forecasted 5-year CAGR of 1.5% and an overall growth rate of 7.71%. Future trends to monitor include the impact of technological advancements in aircraft parts, geopolitical developments, and changes in Saudi Arabia's transportation infrastructure and regulatory environment.
