The aircraft and spacecraft wages and salaries in the UK have shown a significant upward trend from 2013 to 2023, rising from 3.89 billion Euros to 5.85 billion Euros. This represents a robust growth despite some fluctuations in the annual growth rates. While early years like 2013-2015 saw sharp increments, recent years (2022-2023) displayed moderate growth with percentage variations of 1.83% and 1.76% respectively. The CAGR over the last five years was an average of 1.72% annually.
Forecast data from 2024 onwards predicts continued growth, albeit at a slower pace with a five-year CAGR of 1.24%, reaching a value of 6.32 billion Euros by 2028. This indicates a slight deceleration in the growth rate compared to historical data.
Future trends to watch for include:
- The potential impact of technological advancements and automation on wage structures within the industry.
- Influences of global economic conditions, trade policies, and geopolitical factors on the aerospace sector.
- The effect of environmental regulations and sustainable practices on operational costs and wages.