The UK's passenger air transport sector saw a steady increase from 2013 to 2019 before experiencing a sharp decline in 2020, owing to the pandemic, hitting a trough at 11.3 billion pounds sterling. However, the sector rebounded strongly in 2021, with continued growth into 2022, reaching 29.25 billion pounds in 2022. In 2023, production stood at 29.73 billion pounds, marking a year-on-year variation of 1.64%. The Compound Annual Growth Rate (CAGR) over the last 5 years was 1.66%.
For the future, forecasted data from 2024 to 2028 suggests a stable upward trend, with a forecasted 5-year CAGR of 1.35% and an overall growth rate of 6.95% by 2028. It is crucial to monitor innovations in sustainable aviation, infrastructure investments, and changes in regulatory policies, which could significantly influence production in the passenger air transport sector.
