Forecast: Production of Air and Spacecraft and Related Machinery in Canada

From 2013 to 2023, the production of air and spacecraft and related machinery in Canada has shown varied year-on-year trends. The market peaked in 2023 at 30.17 Billion Canadian Dollars, showing a slight increase of 2.3% compared to 2022. Significant growth was observed in several periods, such as in 2019 with a year-on-year growth of 14.72% and in 2022 with a growth of 7.79%. The period from 2016 to 2023 saw an average CAGR of 4.09%, indicating a steady overall growth despite some fluctuations.

Future trends to watch for include:

- Expected continued growth at a forecasted 5-year CAGR of 1.76% from 2024 to 2028, leading to an anticipated market value of 33.62 Billion Canadian Dollars by 2028.- Potential variations in global demand for air and spacecraft, technological advancements and economic conditions.