The import value for parts of aircraft and spacecraft to Malaysia in 2023 stood at $1.9517 billion. The data from 2013 to 2023 reveals a mixed trend characterized by varied year-on-year fluctuations and an overarching long-term growth trajectory. Noteworthy year-on-year variations include significant growth in 2014 (19.2%) and 2021 (18.93%), as well as declines in 2015 (-1.8%) and 2020 (-13.55%). The compounded annual growth rate (CAGR) for the past five years up to 2023 is 3.75%.
Future trends to watch include a predicted steady growth with a CAGR of 2.56% and a total growth rate of 13.49% over the next five years (2024-2028). This forecasted growth may be influenced by advancements in aerospace technology, increased demand for air travel, and investment in aviation infrastructure.
