📈 U.S. Exports of Aircraft Engines and Parts Have Outpaced Complete Aircraft Since 2018

U.S. exports of civilian aircraft, engines, and parts saw a dramatic increase from $46.1 billion in 2004 to an all-time high of $130.8 billion in 2018. This robust growth was disrupted by the COVID-19 pandemic in 2020, which caused exports to roughly halve. However, the sector rebounded in the following years, with exports rising to $113.5 billion in 2023.

Focusing specifically on complete civilian aircraft exports, the value grew significantly from $19.0 billion in 2004 to a peak of $63.4 billion in 2015. Following this peak, exports declined to around $44.1 billion in 2019. The pandemic further exacerbated this decline, causing exports to drop to $16.6 billion. Nevertheless, a recovery ensued, and by 2023, exports had increased to $35.6 billion.

In the category of civilian aircraft engines and parts, exports exhibited a continuous upward trend from $23.4 billion in 2003 to $81.9 billion in 2019. The pandemic-induced downturn saw these exports fall to $55.6 billion in 2020 and 2021. However, a strong recovery was observed, with exports rising to $77.6 billion in 2023.

Between 2013 and 2017, the export shares of complete civilian aircraft and civilian aircraft engines and parts were roughly equal. However, starting in 2018, exports of engines and parts began to outpace those of complete aircraft. By the first quarter of 2024, the share of engines and parts had risen dramatically, comprising 75% of total U.S. civilian aircraft exports.