The import of parts of aircraft and spacecraft to Nigeria has demonstrated significant fluctuations over recent years. In 2023, the value stood at 126.15 million USD, reflecting a 3.68% increase from the previous year. From 2013 to 2023, the import values have seen substantial irregularities, including a pronounced peak in 2016 followed by a sharp decline and subsequent recovery. The Compound Annual Growth Rate (CAGR) over the last five years has been 6.1%, suggesting moderate overall growth despite year-on-year volatility.
Future projections from 2024 to 2028 indicate a steady growth trajectory with a forecasted CAGR of 2.69%, pointing to a gradual increase in import values over this period. Key trends to watch include potential policy changes, economic conditions, and technological advancements that could influence import volumes and values in the aerospace sector.
