In 2023, the export of gas turbine engines from Australia stood at $135.72 million USD. Over the previous two years, the value increased by 1.48% in 2022, followed by a 1.43% rise in 2023. The CAGR over the last five years (from 2018 to 2023) is 1.83%, indicating a steady though modest growth trend.
The forecasts from 2024 to 2028 project an average annual growth rate of 1.12%, culminating in a total growth of approximately 5.74%. This suggests a continued but moderate upward trend in the export value of gas turbine engines over the next five years.
Looking ahead, key trends to watch for include technological advancements that could make Australian gas turbines more competitive globally, potential geopolitical shifts affecting trade agreements, and fluctuating demand in emerging markets. Keeping an eye on these factors will help stakeholders anticipate potential disruptions or opportunities in the export market.
