The import of aircraft, spacecraft, and parts thereof to South Africa has seen significant fluctuations over the past decade. In 2023, the value stood at 706.9 million US dollars. Year-on-year analysis reveals a mixed trend of growth and decline: 2023 saw a slight decrease of 2.88% compared to 2022, while 2022 had a minor increase of 2.26% over 2021. Looking back further, substantial peaks and troughs are evident; for example, 2016 experienced an almost 30% increase, while 2018 saw a 24.32% decrease. Over the past five years, the compound annual growth rate (CAGR) was -0.83%, indicating a general downward trend.
Future trends to watch for:
- Forecasted import values indicate a consistent decline, with the value expected to drop to 595.17 million US dollars by 2028.
- The 5-year forecast CAGR is -2.66%, showing a sustained reduction in import values.
- Potential influencing factors such as global economic conditions, advancements in local aerospace manufacturing, and changes in import policies may impact these forecasts.
