The import value of parts of aircraft and spacecraft to the UK stood at $5.1635 billion in 2023. Analyzing year-on-year variations, there was a -0.48% decrease from 2022 to 2023, following a 4.75% rise from 2021 to 2022. The five-year CAGR leading to 2023 was -1.14%, reflecting a slight overall decline.
Forecasts for the period from 2024 to 2028 indicate a continued modest decrease in imports, with a forecasted five-year CAGR of -0.39%. Year-on-year variations show minor reductions or increases, signaling overall stability but a slight downward trend in import volume.
Future trends to watch for include:
- Potential impacts of geopolitical factors on trade policies.
- Technological advancements in aircraft and spacecraft parts.
- Shifts in demand within the aerospace industry.