Summary
The Finnish market for aircraft and aircraft parts in 2009 was around $965 million. The market for aircraft parts was valued at $323 million. Aircraft parts imported from the U.S. included propellers, rotors, landing gear and their parts. The U.S. holds a market share of 36 percent of the aircraft parts market.
Even though the national air carrier and the major buyer in the market, Finnair, is currently in the process of replacing its fleet mostly with Airbus aircraft, its technical department has established several long-term service and maintenance contracts of U.S. build wide-body aircraft with other airlines in the region. This has reflected positively on the market demand of aircraft parts from the U.S.
Market Demand
Finavia is a state owned commercial enterprise that maintains the Finnish airport network and the air navigation system. At the end of 2009, Finavia's airport network consisted of 25 airports. The volume of air traffic by number of air transport passengers has been increasing steadily for a long time, but decreased briefly in 2009. The year 2010 was already a promising year with a slight increase in the number of travelers. The total number of air transport passengers reported by Finavia exceeded 16 million passengers.
Over the years, the number of passengers has increased steadily and is likely to reflect favorably to the market demand for aircraft and parts in general. In addition, other aerospace related investments such as airport enlargement projects and aircraft service and maintenance contracts by Finnair, the national airline’s maintenance department, are likely to offer U.S. companies potential in the Finnish aerospace market.
Market Data
The travel year 2010 showed signs of recovery in international air traffic. Domestic air traffic has decreased mostly due increases in airfares and alternative travel arrangements. In 2009, the imports of aircraft and aircraft parts were valued at over $965 million (HS 8802, HS 8803). The U.S. is one of the largest supplying countries, along with France and the United Kingdom (U.K.)
Best Prospects
_ Propellers and rotors and their parts
_ Landing gear and parts
_ Aircraft (spare) parts and components
_ Maintenance parts and components
