The Air Transport Gross Value Added (GVA) in the U.S., expressed in Billion US Dollars, experienced significant fluctuations over the last decade. Following a steady growth from 2013 to 2019, the sector was severely impacted in 2020 by a 59.15% drop due to the COVID-19 pandemic, reaching $49.54 billion. Recovery began in 2021 with a 36.18% increase. The GVA rebounded sharply by 65.34% in 2022, and in 2023, it stood at $131.72 billion, marking an 18.09% growth from 2022.
From 2019 to 2023, the Compound Annual Growth Rate (CAGR) was 3.15%. Future forecasts indicate a moderate growth rate of 2.78% CAGR from 2023 to 2028. The sector is expected to reach $157.03 billion by 2028, reflecting a 14.72% growth over this period.
Future trends to watch for:
- Technological advancements in air transport such as sustainable aviation fuels and electric aircraft.
- Potential impact of regulatory changes related to carbon emissions and environmental sustainability.
- Continued recovery and growth in passenger and cargo volumes post-pandemic.
- Shifts in global economic conditions and their effects on air transport demand.
- Emerging market opportunities and potential geopolitical shifts influencing international aviation routes.
