The production in Spain's passenger air transport sector demonstrated significant fluctuations from 2013 to 2023. After experiencing steady growth from 2013 to 2019, the sector was hit hard by the COVID-19 pandemic in 2020 with a severe dip of nearly 61%. However, it showed impressive resilience and rebounded substantially in 2021 and 2022, almost restoring the pre-pandemic levels by 2023, which stood at 15.3 billion Euros. The average annual growth over the last five years leading to 2023 was 5.42%.
Looking forward, the sector is expected to maintain upward momentum with a forecasted CAGR of 3.3% from 2024 to 2028. Key trends to watch include the continued recovery trajectory post-COVID-19, potential impacts of sustainability regulations, adoption of green technologies, and increasing demand for air travel driven by tourism and business activities.
