The export of gas turbine engines from Thailand has shown varying trends over the years. From 2013 to 2015, there was growth with significant increments in 2014 (42.37%) and a more moderate increase in 2015 (3.57%). However, 2016 to 2018 experienced a downturn with a notable drop of 20.49% in 2018. The trend revived in 2019 with a 12.67% rise only to face another decline in 2020 by 15.52%. Recovery resumed in 2021 and continued through 2023, where the value stood at $430.84 million, reflecting a year-on-year increment of 1.59% for 2023.
From a long-term perspective, the compounded annual growth rate (CAGR) over the last 5 years reflects a dynamic shift, with recent data pointing to an increase of 3.79%. Looking forward to 2028, the export value is forecasted to reach $466.09 million, corresponding to a predicted 5-year CAGR of 1.24% and an overall 5-year growth rate of 6.35%.
Future trends to watch for in the export of gas turbine engines from Thailand include potential impacts of global energy shifts towards renewable sources, technological advancements in turbine efficiency, and geopolitical factors influencing international trade. Monitoring these factors will be crucial for anticipating further trends and variations.
