The import of aircraft parts to China has shown varying trends from 2013 to 2023. In 2023, the import value stood at $2.534 billion USD. Growth has been inconsistent with notable fluctuations, including a significant rise of 25.8% in 2018 and declines in 2015 and 2016. However, the average annual growth rate (CAGR) over the last five years (2018-2023) was approximately 2.22%. Over the last two years, the year-on-year growth rate was 3% in 2023 and 3.15% in 2022, reflecting stable but modest increases.
Future trends to watch for:
- With a forecasted CAGR of 2.03% from 2024 to 2028, expect steady growth in the import value, potentially reaching $2.881 billion USD by 2028.
- Emerging aerospace technology and increased demand for advanced aircraft parts may drive future imports.
- Geopolitical factors and shifts in global supply chains could impact the import dynamics significantly.
