The export value of aircraft parts from Saudi Arabia stood at $593 million in 2023. The forecasted values for the years 2024 through 2028 are $611.23 million, $632.05 million, $652.46 million, $672.46 million, and $692.05 million respectively. Analyzing the year-on-year variations, the forecasted increase from 2024 to 2025 is approximately 3.4%, from 2025 to 2026 is 3.2%, from 2026 to 2027 is 3.1%, and from 2027 to 2028 is 2.9%. The compound annual growth rate (CAGR) over the five-year period from 2024 to 2028 is expected to be around 3.2%.
Future trends to watch for include potential shifts in global demand for aircraft parts, technological advancements in the aviation industry, and geopolitical factors that may impact trade dynamics. Moreover, Saudi Arabia's investment in local manufacturing and technological capacity could influence export volumes and values positively. Keeping an eye on these factors can provide valuable insights into potential growth or challenges in the market.
