The value added of air transport in the UK has shown a steady increase from 2013 to 2023, with the latest value standing at 6.07 billion pounds sterling in 2023. Over this period, the year-on-year growth rates and CAGR figures indicate fluctuations but generally positive growth, with notable spikes in 2014 (14.43%) and 2015 (12.4%). The period from 2019 to 2023 saw more moderate growth, with year-on-year variations between 2.25% and 2.07% and a 5-year CAGR of 3.39%.
Forecasted data from 2024 to 2028 suggests a continued upward trend, though at a slower pace, with an expected 5-year CAGR of 1.59% and a total growth rate of 8.2% over this period. Future trends to watch include:
- Technological advancements in air transport
- Environmental regulations impacting the aviation sector
- Economic factors affecting discretionary travel and cargo transport
- Brexit implications on UK-EU air transport agreements
- The resurgence of global travel post-COVID-19 pandemic
