The import of gas turbine engines exceeding 5000 kW to the UK is expected to grow steadily from 2024 to 2028. In 2023, the value stood at a lower baseline compared to forecasted increments in subsequent years. The annual increase in volume ranges from around 4.9% to 4.2% year-on-year. Over the entire forecast period, the Compound Annual Growth Rate (CAGR) is approximately 4.5%.
Future trends to watch for include:
- Technological advancements in turbine efficiency that might affect demand.
- Shifts in energy policy and the transition to green energy that could impact import volumes.
- Global economic factors and supply chain dynamics that might alter import patterns.