The value added by the air and space transport sector in Australia showed significant fluctuations from 2013 to 2023. Starting at AUD 6.54 billion in 2013, it underwent ups and downs, peaking at AUD 9.5 billion in 2019. The subsequent years saw dramatic drops, notably an 83.24% decline in 2021 due to the pandemic. Recovery began in 2022 with a substantial 406.1% increase, although values remained below pre-pandemic levels.
In 2023, the sector stood at AUD 5.02 billion, reflecting a slight 6.88% year-on-year decrease. The average yearly decline (CAGR) over the past five years is -10.68%, indicating a challenging recovery phase.
The forecast through 2028 suggests a steady recovery with an annual growth rate (CAGR) of 3.11%, projecting a 16.56% increase over five years. Future trends to watch for include technological advancements, regulatory changes, and economic recovery boosting the sector's value.
