In Belgium, the production of air and spacecraft and related machinery saw significant variation between 2013 and 2023. In 2023, the production stood at 2.07 billion Euros. Notably, the industry faced dramatic dips in 2016 and 2017, with respective year-on-year decreases of 0.082% and 1.79%. However, it rebounded strongly in 2021 with a 17.17% increase and continued to grow steadily upwards. The industry's Compound Annual Growth Rate (CAGR) over the last five years was 2.64%, highlighting moderate but steady growth.

Future trends to watch for:

Technological innovations and advancements in air and spacecraft machinery
Government policies affecting aerospace sector development
Global market demand and international competition
Environmental regulations and sustainability initiatives impacting production processes