Georgia Aerospace and Defense Market Shipment Analysis
Georgia Aerospace and Defense Market registered a growth of 76.39% in value shipments in 2022 as compared to 2021 and an increase of 17.93% CAGR in 2022 over a period of 2017. In Aerospace and Defense Market Georgia is becoming more competitive as the HHI index in 2022 was 1548 while in 2017 it was 2061. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market.
Georgia has reportedly relied more on domestic production to meet its growing demand in Aerospace and Defense Market. India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Aerospace and Defense Market in 2022 was 0.92 while in 2017 it was 1.98. USA, Germany, United Arab Emirates (UAE), Czechia and Russia were among the top players of the market in 2022, where USA acquired the largest market share of 31.04% with a shipment value of 0.97 million USD in 2022 USA also offered the product below the average market price thus having a competitive advantage over others In 2017 Russia had the largest market share of 29.58% with the shipment value of 0.2 million USD. The country was offering its product with an average price which is higher than the average market price offered in the country. Although Russia offers its product above the market average price, it remained at the leadership position indicating the brand value it holds in the Georgia Aerospace and Defense Market in 2017.
