The production value of services incidental to air transportation in Spain displayed a strong recovery following the pandemic-induced decline in 2020, which saw a near-halving of value to €3.95 billion. By 2023, this figure rebounded to €8.43 billion, maintaining an impressive CAGR of 28.76% over the past five years. From 2016 to 2019, the market enjoyed steady growth, but the sharp decline in 2020 disrupted this trajectory. Post-2020, the market saw substantial year-on-year increases: 54.29% in 2021, 22.45% in 2022, and 12.99% in 2023.
Future trends to watch include potential impacts from global economic changes, advancements in air transportation technology, and policy shifts within the European Union. The forecasted steady growth, with a five-year CAGR of 0.67% leading to 2028, suggests gradual stabilization but also indicates that rapid pre-2020 growth may be tempering.
