Between 2013 and 2023, the air transport sector in Turkey experienced a significant increase in turnover, growing from 27.06 billion New Turkish Liras in 2013 to 126.98 billion New Turkish Liras in 2023. The percentage variations each year showed considerable fluctuations, including a substantial drop in 2020 due to COVID-19 impacts. The last five years (2018-2023) saw a CAGR of 7.81%, indicating steady growth despite market volatility. Specifically, the sector registered a 5.56% year-on-year increase in 2023. Projections from 2024 to 2028 suggest a continual, albeit slower, growth with a forecasted CAGR of 3.83%.
Future trends to watch for include technological advancements in airline operations, increased investments in sustainable aviation, and potential impacts of geopolitical dynamics on air travel demand in Turkey. Additionally, ongoing infrastructure improvements and regulatory changes could further influence market dynamics.
