From 2013 to 2023, the import of gas turbine engines to the UAE experienced significant fluctuations. Values ranged from a low of 3.9548 billion USD in 2015 to a high of 6.8049 billion USD in 2023. Notable year-on-year variations include a sharp decline of 13.52% in 2015 after a slight dip in 2014, followed by a substantial increase of 32.72% in 2016, and a major drop of 14.94% in 2020, influenced potentially by global events. Over the last two years, variations were 2.28% in 2022 and 2.18% in 2023. On average, the compound annual growth rate (CAGR) over the last 5 years was 1.78%.
Looking forward, the forecast anticipates a steady growth trend with imports expected to reach 7.5634 billion USD by 2028, reflecting an estimated 1.66% annual CAGR over the next five years, equating to an 8.6% total growth rate by 2028. This indicates a more moderated, steady growth phase for this market segment.
Future trends to watch for include technological advancements in turbine efficiency, potential policy changes influencing energy imports and exports, and shifts in global energy supply dynamics, all of which could impact market demand and growth rates for gas turbine engines in the UAE.
