The import of Aircraft, Spacecraft, and Parts Thereof to Singapore has displayed significant fluctuations over the past decade, demonstrating peaks and troughs. In 2023, the series stood at $12.965 billion. Key variations include a notable growth rate in 2018, followed by a contraction in subsequent years until a recovery phase that began in 2021. The last two years saw increases of 3.6% year-on-year in 2023, and 9.28% in 2022. The compound annual growth rate (CAGR) from 2019 to 2023 was around 1.96%, reflecting moderate but consistent growth.
Looking forward, the import values are forecasted to continue their upward trajectory, reaching approximately $15.285 billion by 2028. The forecasted 5-year CAGR is 2.64%, indicating a stable rise. Trends to watch include technological advancements in aerospace, potential supply chain disruptions, and geopolitical factors that may impact import patterns.
