Over the past decade, Turkey has seen consistent growth in the import of aircraft under-carriages and parts thereof, with a notable increase from USD 21.418 million in 2013 to USD 157.72 million in 2023. This represents a Compound Annual Growth Rate (CAGR) of 27.76% from 2013 to 2014, which gradually tapered to 5.59% over the last five years leading to 2023. The year-on-year growth rate peaked at 137.22% in 2014, before stabilizing to between 5.01% and 21.84% in subsequent years. The CAGR over the last five years (2018-2023) was 5.59%, reflecting a slowdown yet steady growth trajectory.
Looking ahead, the forecast to 2028 indicates a moderate CAGR of 3.23%, expecting the import value to reach USD 192.85 million by 2028, with an overall growth rate of 17.24% within these five years. This indicates a continued, albeit slower, expansion of Turkey's import of these aircraft components.
Future trends to watch for include technological advancements in aircraft manufacturing, fluctuations in aerospace industry demand, and potential impacts of international trade policies. Increased domestic production capabilities and investment in local aerospace industries could also influence future import patterns.
