This area of work is one of the most advanced and crucial to the U.S. economy. It not only makes a lot of money for the country's exports, but it also sustains millions of high-skilled jobs in research, engineering, and manufacturing.

As per USA Import Data by Import Globals, the HS Code 88 category comprises commercial airliners, defense aircraft, helicopters, satellites, launch vehicles, engines, and anything else that goes with them.

HS Code 88 is concerning "aircraft, spacecraft, and parts of them." This group includes anything from complete airplanes and helicopters to satellites, launch vehicles, aircraft engines, propellers, and avionics systems. Most of the export value in this group comes from civilian airplanes and their parts. But the commercial space boom has made exports of spacecraft and satellites go up a lot in the last few years. As per USA Export Data by Import Globals, some of the biggest corporations in this industry in the US are Boeing, Lockheed Martin, Raytheon, and SpaceX. A lot of vendors and small aerospace companies help them out.

Export Performance from 2020 to 2024

The COVID-19 pandemic produced a lot of problems for the USA aerospace industry in 2020 because it made aviation travel around the world decline a lot. As per USA Import Export Trade Data by Import Globals, exports were going up again by 2022, though, thanks to a robust defense industry and a rising aviation business. Since then, the industry has grown significantly, which shows how strong and creative U.S. manufacturers are.

Exports under HS Code 88 rose by more than 62% between 2020 and 2024. This was because there were a lot more deliveries of commercial planes and a lot more purchases of defense-related equipment. This category is one of the top five U.S. export sectors, with a value of around $134 billion in 2024. It comes in second after mineral fuels and machines.

What Caused the Growth

1. The Return of Business Aviation

People started flying again after the pandemic, which made planes and engines more in demand. As per USA Import Custom Data by Import Globals, airlines began to deliver things that had been put off, and corporations that lease planes made fresh bulk purchases to replace their fleets with models that consume less fuel. This rise made planes and parts created in the U.S. that were sold abroad worth more straight away.

2. More Contracts for Defense

The US aircraft sector does very well when it sells planes to other countries. A lot of countries rely on American-made fighter airplanes, transport planes, and military helicopters. They also depend on long-term service contracts to get replacement parts and do maintenance. As per USA Import Trade Analysis by Import Globals, these exports have grown even faster because of increased tensions between countries and more money being spent on defense around the world.

3. The space Industry is Growing

SpaceX, Blue Origin, and Boeing are some US corporations that are quickly turning space into a business. This has transformed how people sell satellites and spacecraft. People from foreign countries acquire satellites, propulsion systems, and launch services that are made in the US. According to USA Exporter Data by Import Globals, this part is getting bigger all the time since the space economy is growing.

4. Supply Chains That Are Very Important

Some of the most precious things that are traded around the world include planes, spaceships, and engine parts. As per USA Importer Data by Import Globals, even little changes in how long it takes to deliver goods or how much parts cost can have a large effect on the total value of exports. There are thousands of precision suppliers in the U.S. aerospace industry, which keeps the value of exports high even when production levels shift.

What Goes into Exports

The U.S. exports under HS 88 include a lot of Different Things:

Planes for Civilians: Big commercial airliners and small business jets make up the major part of the total value of exports.

Parts and engines for airplanes are a big element of both the global maintenance market and the new production market. Landing gear, composite structures, flight control systems, and navigation technologies are all parts of avionics and the airframe.

Helicopters and Military Planes: A lot of the exports go to both civilians and the military.

Spacecraft and Launch Vehicles: This portion is growing quickly because there are more satellites and private space missions. These smaller parts prove that the USA has the best technology in the world and that the world needs USA aerospace innovation.

Most essential Partners for Exports

As per USA Import Trade Statistics by Import Globals, the US exports parts, planes, and spacecraft to every significant section of the world. But some countries consistently stay at the top of the list of consumers because they have big aviation markets, defense alliances, and a lot of leasing activity.

As per Europe Import Shipment Data by Import Globals, Europe is still the greatest regional consumer since Ireland and the U.K. have bases for leasing and taking care of planes. Next is Asia, where Japan, Singapore, and South Korea all have a lot of demand. The USMCA framework lets for cross-border supply chains, which makes trade between North America, Canada, and Mexico very robust.

Insights by Region and Sector Europe

It is crucial because of the airplane leasing and repair hubs throughout Europe. Import Globals' Europe Import Export Trade Analysis says that Ireland is a financial center where many planes are registered.

The Pacific and Asia

There has been greater demand in the Asia-Pacific region since more people are traveling and countries are updating their defense systems. Japan and South Korea buy both commercial and military jets, and they fix and store them in Singapore.

North America

Canada and Mexico still play a big role in building planes in the USA. A lot of the suppliers in the USA need parts from Canada and Mexico to accomplish their jobs.

The Middle East and Other Places

The UAE, Saudi Arabia, and Qatar are the most advanced countries in the Middle East, which is still a new market for aircraft and parts since their national airlines and defense purchases are developing.

Issues that the Sector is Dealing with

The future of aerospace exports seems positive, but the industry has a number of difficulties to solve:

Hiccups in the Supply Chain: Production has been put on hold because there aren't enough electronic parts, composite materials, or staff with experience.

Uncertainty in Geopolitics: It can be challenging to sell in some places because of sanctions, export limits, and changing defense alliances.

High Production Costs: The aerospace sector needs a lot of money to get started, and the cost of raw materials has gone up, making everything more expensive.

Environmental Pressure: The carbon footprint of flying around the world means that we need to utilize more environmentally friendly technologies. During the changeover period, this could lead to a temporary decline in demand for traditional aircraft.

Competition: In some markets, European companies like Airbus and new Asian companies are still giving the US a run for its money.

What will Happen Next?

The aerospace export business in the US is predicted to keep growing at a strong rate from 2025 to 2030. People in the business say that the number of commercial planes being made will keep going up since airlines are updating their fleets to fulfill standards about fuel efficiency. Defense exports are likely to be strong because people are worried about global security and NATO is trying to grow better.

There is a lot of room for research in space. As per USA Export Import Global Trade Data by Import Globals, if there are more small satellites, private launch services, and lunar exploration initiatives, the number of spacecraft exports could grow raised by four times in ten years. Also, NASA and businesses working together more will probably lead to the creation of new parts and technologies that can be sold in other countries.

There are also good things that can happen when you work on projects that are good for the environment. There are new kinds of exports, such as hydrogen-powered planes, electric propulsion systems, and lightweight materials. These are in line with efforts around the world to cut down on carbon emissions.The US government is likely to stay on top of the globe because it is focusing on advanced manufacturing, funding for new ideas, and aeronautical research.

The End

A lot of the suppliers in the US need parts from Canada and Mexico to accomplish their jobs. This makes trading go in circles. The US is a leader in technology, has superior manufacturing skills, and has strong ties with other countries. In 2024, it will export more than $134 billion worth of goods. The space economy is growing swiftly, and the industry has bounced back from the pandemic. This means that it is set up for long-term success. The USA aerospace sector will continue to be a major player in worldwide trade for many years to come, even though there are still challenges with global competition, supply, and rules. This is because the industry is very innovative and has high quality standards. Import Globals is a leading data provider of USA Import Export Trade Data.

FAQs

Que. What does HS Code 88 Export the Most?
Ans. Most of the value of HS 88's exports comes from civilian airplanes, which are the most valuable thing shipped.

Que. Who buys the most parts and Planes from the U.S.?
Ans. Ireland, the UK, France, Japan, and Canada are the countries that buy the most. These are all countries with big aviation industries and places where people can rent planes.

Que. Why does Ireland buy so many Planes from the U.S.?
Ans. Ireland is home to many international aircraft leasing companies, therefore U.S.-made planes are usually registered and shipped there for business and financial reasons.

Que. What will happen to U.S. Aerospace Exports in the future?
Ans. Exports are likely to keep growing because of the demand for commercial jets, defense partnerships, and the expansion of commercial space businesses.

Que. Where can you obtain detailed USA Import Export Global Data?
Ans. Visit www.importglobals.com or email info@importglobals.com for more information on up-to-date data.