Analysis shows that Thailand's export of aircraft parts has experienced considerable fluctuation over the years. The peak was in 2013 at $964.03 million, followed by a sharp decline, recording intermittent recoveries. In 2023, the export value stood at $400.63 million, reflecting a slight downward trend with a year-on-year decrease of 3.36%. Over the past two years, the overall trend has been a moderate decline with a combined negative impact. The average annual variation over the last five years (CAGR) is -3.53%.
Forecasted data suggests a continuing decline in exports over the next five years. By 2028, the value is expected to decrease to $326.67 million, with a forecasted five-year CAGR of -3.17%, marking an overall reduction of approximately 14.89% from the 2023 value.
Future trends to watch for include global economic recovery post-pandemic, innovations in aircraft technology, and potential shifts in geopolitical trade dynamics. These factors may either exacerbate or mitigate the declining trend in Thailand’s aircraft parts export market.
