HS Code:
This category includes new airplanes and other new aircraft (other than military airplanes or military aircraft) with an unladen weight exceeding 30,000 kg, as defined under U.S. note 21(b) to the relevant subchapter. These are typically large commercial aircraft used for passenger or cargo transport, falling under Harmonized System (HS) codes related to statistical reporting numbers 8802.40.0040, 8802.40.0060, or 8802.40.0070. This category is critical to global trade due to the high value and strategic importance of these goods in the aviation industry, impacting international connectivity, logistics, and economic growth.
Total Trade Volume
Approximately $130 billion USD
Data from 2022
Source
International Trade Centre (ITC) Trade Map and UN Comtrade Database
$55 billion USD
42.3% of global trade of total trade
Increasing
$40 billion USD
30.8% of global trade of total trade
Stable
$10 billion USD
7.7% of global trade of total trade
Increasing
$8 billion USD
6.2% of global trade of total trade
Stable
$5 billion USD
3.8% of global trade of total trade
Decreasing
Average Rate
2.5% ad valorem
Highest Rate
7.5% (applied by certain developing countries under WTO bindings)
Lowest Rate
0% (under free trade agreements like USMCA and EU-US agreements)
Increased demand for fuel-efficient aircraft
Driving innovation in lightweight materials and sustainable aviation technologies, boosting trade in newer models like the Boeing 787 and Airbus A350.
2022
Recovery of global air travel post-COVID-19
Airlines are renewing fleets, leading to a surge in orders and trade volume for large aircraft, with a projected growth of 5% annually through 2030.
2023
Rising focus on cargo aircraft
E-commerce growth has increased demand for large cargo planes, influencing trade patterns with a shift toward converted passenger-to-freighter models.
2023
The long-standing trade dispute between the U.S. and EU over subsidies to Boeing and Airbus continues, with both sides imposing retaliatory tariffs on aircraft and related products, though negotiations for resolution are underway.
October 2023
Potential for fluctuating tariff rates and trade barriers, affecting cost structures for airlines and leasing companies.
Major manufacturers are investing in sustainable aviation fuel (SAF) compatible aircraft designs, influencing trade as countries with green policies offer incentives for newer, eco-friendly models.
June 2023
Likely to increase trade in newer aircraft models while older, less efficient fleets face reduced demand.
Ongoing global supply chain issues, including shortages of critical components like engines and avionics, have delayed aircraft deliveries, impacting trade volumes temporarily.
March 2023
Short-term reduction in trade volume but expected to rebound as supply chains stabilize in 2024.