oman Aerospace and Defense Market Shipment Analysis
Oman Aerospace and Defense Market registered a growth of 52.91% in value shipments in 2021 as compared to 2020 and a decrease of -25.66% CAGR in 2021 over a period of 2017. In Aerospace and Defense Market Oman is becoming less competitive as HHI index in 2021 was 2623 while in 2017 it was 2618. 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.
Oman 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 2021 was 0.55 while in 2017 it was 2.22. Qatar, China, United Arab Emirates (UAE), USA and United Kingdom (UK) were among the top players of the market in 2021, where Qatar acquired the largest market share of 35.73% with a shipment value of 33.8 million USD in 2022 Qatar also offered the product above the average market price, but remained at the leadership position indicating the trust it holds in the Aerospace and Defense Market. In 2017 USA had the largest market share of 36.14% with the shipment value of 98.47 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 USA offers its product above the market average price, it remained at the leadership position indicating the brand value it holds in the Oman Aerospace and Defense Market in 2017.
