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Kentucky Achieves Record $47.7B in Exports in 2024

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Introduction

Kentucky has long been a powerhouse in the manufacturing sector, and its strategic location has made it a key player in global trade. In 2024, the state once again set an all-time record for exports, shipping $47.7 billion worth of products worldwide. This achievement underscores Kentucky’s growing influence in international markets and its ability to adapt to global economic trends.

The state’s success is driven by its diverse industrial base, which includes aerospace, automotive, and pharmaceutical sectors. These industries have not only contributed to Kentucky’s economic growth but have also created thousands of jobs, boosting the local economy. The commitment to developing global partnerships has been a cornerstone of this success, as Kentucky continues to expand its reach into new markets.

Governor Andy Beshear has been a vocal advocate for Kentucky’s export growth, emphasizing the importance of the state’s workforce and its ability to produce high-quality products. “The global demand for Kentucky-made products, made by hard-working Kentuckians right here in the commonwealth, has never been higher,” he stated. This sentiment reflects the pride and dedication that have propelled Kentucky to new heights in the global market.

Kentucky’s Top Export Destinations

Canada remains Kentucky’s top export destination, with over $9.3 billion in products shipped in 2024. This longstanding trade relationship highlights the strong economic ties between Kentucky and its northern neighbor. The United Kingdom, France, China, and Mexico round out the top five destinations, collectively accounting for a significant portion of Kentucky’s exports.

These countries represent key markets for Kentucky’s leading industries, including aerospace and automotive. The demand for high-quality products from these sectors has driven Kentucky’s export growth, as international buyers recognize the value of Kentucky-made goods. The state’s ability to meet this demand has solidified its position as a global trade leader.

Other notable trade partners include Brazil, the Netherlands, Malaysia, Germany, and Singapore. These countries have also contributed to Kentucky’s export success, further diversifying the state’s international trade portfolio. By expanding its reach into these markets, Kentucky has ensured a steady flow of exports and continued economic growth.

“The global demand for Kentucky-made products, made by hard-working Kentuckians right here in the commonwealth, has never been higher.” – Gov. Andy Beshear



Leading Export Categories

Aerospace products and parts were Kentucky’s top export in 2024, with over $18.9 billion in products shipped globally. This represents a nearly 41.8% increase over the previous year, highlighting the growing demand for Kentucky’s aerospace industry. The state’s expertise in this sector has made it a key player in the global aerospace market.

Motor vehicles and pharmaceuticals/medicines are also among Kentucky’s leading exports. In 2024, motor vehicles saw $4.4 billion in products distributed, an 18% increase over the previous year. Pharmaceuticals and medicines accounted for $3.7 billion in exports, further demonstrating the state’s diverse industrial base.

Motor vehicle parts and engines, turbines, and power transmission equipment round out the top five product categories shipped from Kentucky. These industries have not only contributed to the state’s export growth but have also created thousands of jobs, boosting the local economy. Kentucky’s ability to excel in these sectors has been a key factor in its economic success.

Economic Growth and Job Creation

Since the beginning of Governor Beshear’s administration, Kentucky has announced over 1,100 private-sector new-location and expansion projects, totaling more than $35 billion in investments. These projects have created over 60,000 jobs, marking the highest investment figure in the state’s history. This robust job creation has been accompanied by rising wages, with the average incentivized hourly wage topping $26 for three consecutive years since 2022.

Significant investments have been made in the electric vehicle battery production sector, solidifying Kentucky’s position as the electric vehicle battery production capital of the United States. Notable projects include Ford Motor Co. and SK On’s $5.8 billion BlueOval SK Battery Park, AESC’s $2 billion gigafactory project, and Toyota’s $1.3 billion investment in Scott County.

Kentucky’s economic growth has also been recognized on a national level. In 2023, Site Selection magazine ranked Kentucky third nationally and first in the South Central region for economic development projects per capita. The state’s commitment to economic development and job creation has been a key factor in its success.

Conclusion

Kentucky’s record-breaking export growth in 2024 is a testament to the state’s strong industrial base and its ability to adapt to global economic trends. The state’s success in industries such as aerospace, automotive, and pharmaceuticals has driven its export growth, creating thousands of jobs and boosting the local economy. Governor Beshear’s commitment to developing global partnerships has been a key factor in this success, as Kentucky continues to expand its reach into new markets.

Looking ahead, Kentucky’s focus on innovation and economic development will be crucial in maintaining its position as a global trade leader. Initiatives such as Supply Kentucky and New Kentucky Home will play a key role in driving future growth, as the state continues to attract investment and talent. With its skilled workforce and diverse industrial base, Kentucky is well-positioned to continue its economic success in the years to come.

FAQ

Question: What was Kentucky’s total export value in 2024?
Answer: Kentucky set an all-time record with $47.7 billion in exports in 2024.

Question: Which country is Kentucky’s top export destination?
Answer: Canada remains Kentucky’s top export destination, with over $9.3 billion in products shipped in 2024.

Question: What are Kentucky’s leading export categories?
Answer: Kentucky’s leading export categories include aerospace products, motor vehicles, pharmaceuticals, motor vehicle parts, and engines/turbines/power transmission equipment.

Sources: Carter County Times

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Aircraft Orders & Deliveries

Drukair Selects CFM LEAP-1A Engines for A320neo Fleet Order

Drukair picks CFM LEAP-1A engines for five A320neo family aircraft, including two A321XLRs, with deliveries starting in 2030.

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Drukair has finalized the propulsion choice for its upcoming fleet expansion, selecting CFM International LEAP-1A engines to power five new Airbus A320neo family aircraft.

The engine selection, announced in a CFM International press release on September 14, 2026, supports an aircraft order originally outlined in a July 2024 Memorandum of Understanding. The Bhutanese national carrier will use the new equipment to expand its international network, with aircraft deliveries anticipated to begin in 2030.

Fleet Modernization and Expansion

The order consists of three Airbus A320neo and two Airbus A321XLR aircraft. Drukair currently operates a mixed narrowbody fleet that includes one LEAP-powered A320neo and three older Airbus A319ceo aircraft powered by CFM56 engines.

The airline has been a CFM customer since 2004, when it received its first A319ceo. The new LEAP-1A engines will provide commonality with the existing A320neo while supporting the longer-range capabilities of the A321XLR.

Drukair Chief Executive Officer Tandi Wangchuk noted that the efficiency and reliability of the LEAP-1A assets will support the carrier’s growth.

“The LEAP-1A assets in terms of efficiency and reliability will support Drukair’s next phase of growth across Asia while helping us strengthen connectivity and deliver greater value to our passengers,” Wangchuk said.

CFM International Production Milestones

The agreement reinforces CFM International’s position in the South Asian aviation market. CFM President and Chief Executive Officer Gaël Méheust stated the manufacturer remains committed to supporting the airline’s growth and ensuring a smooth integration of the new aircraft into the fleet.

According to the manufacturer, the LEAP engine program has reached a milestone of 10,000 global deliveries. The engine provides improved fuel efficiency and reduced emissions compared to the legacy CFM56 powerplants currently operating on Drukair’s A319ceo fleet.

AirPro News analysis

The selection of the LEAP-1A is a logical continuation of Drukair’s existing fleet strategy. By maintaining engine commonality with its single in-service A320neo, the airline avoids the maintenance and training overhead that would come from introducing a competing powerplant. We view the inclusion of the A321XLR as the more transformative element of this order. The aircraft’s extended range will allow the landlocked nation to bypass traditional regional hubs and establish direct links to more distant markets in Asia-Pacific or the Middle East once deliveries commence in 2030.

Sources: CFM International

Photo Credit: CFM International

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Aircraft Orders & Deliveries

Airbus A350F Clears Ground Tests Before First Flight

Airbus completes Virtual First Flight program for the A350 Freighter ahead of maiden flight targeted for late September 2026.

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Airbus has completed the final simulation milestones for the A350 Freighter (A350F) and is preparing the aircraft for its maiden flight from Toulouse, France, targeted for late September 2026.

In a press release issued on September 14, 2026, the manufacturer detailed the completion of its “Virtual First Flight” (VFF) program and ground vibration testing. The milestone marks the final phase of ground preparations before the new widebody freighter enters a 400-hour flight test campaign aimed at securing certification in 2027. The A350F is designed to challenge Boeing in the heavy cargo market, featuring a maximum payload capacity of 111 tonnes and a range of 4,700 nautical miles.

Aerodynamic modeling and the Virtual First Flight

The A350F utilizes a unique fuselage configuration that requires extensive aerodynamic validation. Laurent Bussiere, Lead Flight Test Engineer for the A350F program, noted that the aircraft combines the forward fuselage length of the Airbus A350-900 with the rear fuselage length and wings of the Airbus A350-1000.

“It’s not an A350-1000 and it’s not an A350-900, but rather it’s between both. So we need to look at the behavior of the whole system with this unique model,” Bussiere said.

To prepare the five-person flight test crew, Airbus conducted the VFF program in early September 2026. The program consisted of 13 simulation sessions, each lasting approximately five hours. Bussiere stated that the simulation setup is 90% representative of the physical aircraft. The remaining 10% of the aerodynamic characteristics remain an unverified model. Because of this variable, the initial flight will be executed in “Direct Law”, requiring manual control by the flight crew until the aerodynamic model is validated in the air.

Flight test campaign and EASA certification

The global certification campaign is scheduled to last nine months and encompass 400 flight-hours. Airbus will utilize two test aircraft for the program. The first aircraft, designated MSN700, features a “flying parcel” test livery and will focus on aerodynamic performance, handling, and autopilot systems. The second aircraft, MSN701, is dedicated to system-related testing, including fire and smoke detection as well as hot and cold weather campaigns.

The European Union Aviation Safety Agency (EASA) is actively involved in the flight test plan. EASA pilots and flight test engineers will participate as onboard witnesses during performance flights ahead of the formal certification phase planned for 2027.

Airbus is also prioritizing ground operations during the test phase to ensure the aircraft is ready for commercial service.

“In terms of cargo operation, which is the A350F’s entire raison d’être, we are focusing on maturity right from the start. Our target is to be able to load and unload various representative containers and payloads every day after flight,” Bussiere said.

Order book and market entry

Airbus targets the first commercial delivery of the A350F for the second half of 2027. The manufacturer states the freighter will deliver a 40% reduction in fuel consumption and carbon emissions compared to previous generation aircraft with similar payload and range capabilities.

According to reporting by Cargo Facts, an undisclosed customer placed a firm order for eight A350Fs on August 31, 2026. This transaction brought the total firm order book for the type to 115 aircraft ahead of the maiden flight.

AirPro News analysis

We note that the nine-month flight test campaign outlined by Airbus represents an aggressive schedule for a widebody derivative with significant structural modifications. Flight test programs for aircraft of this size typically require 12 to 15 months to complete. While the extensive use of the Virtual First Flight program mitigates some developmental risk, any delays discovered during the 400-hour physical test campaign could push the targeted second-half 2027 entry into service into 2028.

Sources: Airbus

Photo Credit: Airbus

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Aircraft Orders & Deliveries

Boyu Capital to Acquire Xiamen Aircraft Leasing by End of 2026

Boyu Capital agrees to buy Xiamen Aircraft Leasing, a China-based mid-life aircraft and engine lessor, with closing targeted for end of 2026.

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This article summarizes reporting by Bloomberg News.

Asia-focused investment firm Boyu Capital has reached an agreement to acquire Xiamen Aircraft Leasing Co., Ltd., signaling continued private equity interest in the Chinese aviation asset management sector. The transaction is targeted to close by the end of 2026, according to reporting by Bloomberg News on September 10, 2026.

The acquisition targets a specialized player in the mid-life commercial aircraft, engine, and helicopter leasing market. Xiamen Aircraft Leasing, established in the Xiamen Free Trade Zone in September 2015, focuses on asset management, trading, and recycling. Financial terms and the exact valuation of the acquisition have not been publicly disclosed, and neither company has issued a formal press release confirming the agreement.

Path to acquisition

The agreement follows a strategic review initiated earlier in the year. In March 2026, Xiamen Aircraft Leasing hired an adviser to explore a potential sale of the business.

The process attracted attention from multiple investment firms looking to expand their footprint in the Asian aviation market. Bloomberg reported that Bain Capital was among the entities expressing interest before Boyu Capital ultimately secured the agreement.

Recent fleet activity

Leading up to the acquisition, Xiamen Aircraft Leasing maintained an active presence in the secondary aircraft market. The lessor has continued to execute transactions involving widebody assets to support its mid-life management strategy.

In December 2025, the company acquired two Airbus A330-300 aircraft from commercial aircraft lessor Azorra. The aircraft, carrying manufacturer serial numbers (MSN) 1432 and 1579, are currently on lease to Sichuan Airlines (3U).

AirPro News analysis

We view this acquisition as a clear indicator of the ongoing consolidation within the Asian aviation leasing market. Private equity firms like Boyu Capital are increasingly drawn to specialized lessors that manage mid-life assets, as these platforms offer predictable cash flows and opportunities in the aircraft recycling and parts trading sectors. The transition of Xiamen Aircraft Leasing to new ownership will likely provide the capital backing necessary to expand its portfolio in a constrained global supply chain environment.

Sources: Bloomberg News

Photo Credit: Xiamen Aircraft Leasing

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