Between 2013 and 2023, the value added of air transport in Australia has displayed significant fluctuations. The industry peaked in 2018 at 10.02 billion AUD before facing a sharp decline due to the COVID-19 pandemic, dropping to 1.3 billion AUD in 2020. It quickly rebounded, rising to 8.4 billion AUD by 2023. The year-over-year variation for 2023 stood at 21.73%, indicating a strong recovery phase. However, over the past five years, the compound annual growth rate (CAGR) was -3.45%, reflecting the initial impact of the pandemic.
Future trends to watch for:
• Continued recovery and stabilization in the air transport sector, with an expected CAGR of 0.92% from 2023 to 2028.
• Potential impact of emerging technologies such as sustainable aviation fuels and electric aircraft on operational costs and environmental impact.
• Possible influences of economic fluctuations, regulatory changes, and geopolitical developments on air travel demand and industry growth.
• Shift in consumer preferences towards more environmentally friendly and efficient travel options, influencing market dynamics.
