The Aerospace industry exports in Norway have shown significant volatility over the past decade, experiencing notable fluctuations. From 2013 to 2019, exports demonstrated a consistent upward trajectory with growth peaking in 2019. The value stood at 1030 million US dollars in 2019 before a drastic decline of 38.9% in 2020, likely due to the COVID-19 pandemic. Recovery followed, with exports surging by 32.63% in 2021 and recording a value of 1060 million US dollars by 2023. The compound annual growth rate (CAGR) over the past five years shows a modest recovery at 1.84%.
Looking ahead, the forecast data from 2024 to 2028 suggests a steadier growth pattern with an anticipated CAGR of 1.49%. By 2028, exports are predicted to rise by 7.68% from 2023 levels, reaching 1170 million US dollars. Key trends to watch for include advancements in aerospace technology, potential new market entries, and the impact of geopolitical factors on global trade dynamics.
