From 2014 to 2023, the air transport sector in Finland showed considerable fluctuations in production value, with a noticeable peak in 2014 at €3.38 billion and a decline to €2.93 billion by 2023. Year-on-year variations ranged from a significant drop of 17.62% in 2020, influenced by the COVID-19 pandemic, to recovery phases, such as a 13.62% increase in 2021. The longer-term Compound Annual Growth Rate (CAGR) from 2019 to 2023 was -1.19%, indicating a slight downward trend.
Looking ahead, the production value is projected to continue its slight decline, reaching €2.81 billion by 2028, with a forecasted 5-year CAGR of -0.6%. This suggests a continuing marginal shrinkage in the sector. The overall 5-year expected growth rate from 2024 to 2028 is -2.94%, further indicating a declining trend.
Future trends to watch for include:
- Potential impacts of sustainable aviation fuel adoption and technological advancements.
- Effects of increasing environmental regulations and changes in consumer travel behaviors.
- Economic factors, including potential global recessions or economic boosts, which could influence air travel demand.
