Key Market Indicators
Portuguese Airline Revenue is projected to hit approximately $4.5 billion by 2028, up from around $4.1 billion in 2023. This marks an average annual growth rate of 1.5%. However, since 2013, the Portuguese market has seen a slight decline, averaging a 0.5% decrease each year. In 2023, Portugal ranked 8th globally in airline revenue, with Austria narrowly leading at $4.1 billion. Germany, Ireland, and Russia took the 2nd, 3rd, and 4th spots, respectively. Meanwhile, Portuguese air passenger traffic is expected to soar to about 43 million by 2028, increasing from nearly 28 million in 2023. This reflects an impressive compound annual growth rate of 6.8%. Historical data since 1975 shows a robust 10% annual growth in demand. In 2023, Portugal ranked 29th in air passenger traffic, with South Africa just ahead at roughly 28 million passengers. China, India, and Ireland secured the 2nd, 3rd, and 4th positions, respectively, in this category.