From 2013 to 2023, the value added of air transport in the US has shown a fluctuating yet overall upward trend, rising from $78.21 billion in 2013 to $137.3 billion in 2023. Notably, the annual growth rate peaked at 15.92% in 2015 and experienced a minor decline of 0.43% in 2018. The growth stabilized over recent years, with a year-on-year increase of 2.95% in 2023. The CAGR over the last five years stabilizes at 4%, signaling a moderate yet steady increase in the sector’s economic contribution.
Future trends to watch for include the impact of technological advancements such as eVTOL (electric vertical takeoff and landing) aircraft, shifts in consumer preference towards sustainable travel, and potential regulatory changes. These factors could introduce new growth catalysts or pose challenges to maintaining the current growth trajectory.
