The import of parts of aircraft and spacecraft to Argentina has demonstrated considerable fluctuations from 2013 to 2023. In 2013, the imports stood at 11.688 million USD, and by 2023, they reached 17.166 million USD, signifying a clear upward trend. Key observations include significant year-on-year variations, such as a notable increase of 58.93% in 2018 followed by a slight annual reduction in 2019 and 2020. The two years leading to 2023 show a steady increment: 8.96% in 2022 and 3.32% in 2023. The 5-year CAGR from 2018 to 2023 is moderate at 1.42%.
The forecast for 2024 indicates a continued rise, projecting imports of 17.716 million USD, growing each subsequent year to reach 20.002 million USD by 2028, representing a 5-year CAGR of 2.46% and a total growth rate of 12.91%. This suggests a stable increase in the coming years, driven by sustained market demand and potential advancements in the aerospace sector.
Future Trends to Watch For:
- Expansion in the local aerospace industry and its impact on import demands.
- Technological advancements and innovation within the aerospace sector.
- Potential economic shifts or policy changes affecting import regulations and tariffs.