The value added of air and spacecraft and related machinery in Belgium showed a steady increase from 2013 to 2023, reaching 934.0 million Euros in 2023. This represents a moderate year-on-year growth of 2.22%, and the average compound annual growth rate (CAGR) over the last five years stands at 3.57%. Despite some fluctuations, particularly a significant decline in 2016 and minimal growth in 2020, the overall trend has been upward. The forecasted data from 2024 to 2028 suggest a continued increase, with a projected CAGR of 1.54% and a cumulative growth rate over five years of 7.95%.
Future trends to watch for:
• Advancements in aerospace technology, potentially driving higher value addition.
• Changes in regulatory and environmental policies impacting production costs and processes.
• Market demand fluctuations driven by economic conditions, defense budgets, and commercial airline expansions.
