The UK aerospace industry's trade balance in 2024 is forecasted at 12.36 billion USD. This forecast predicts a slight, continuous decline in subsequent years, decreasing to 12.32 billion USD in 2025, 12.28 billion USD in 2026, 12.23 billion USD in 2027, and finally reaching 12.19 billion USD in 2028. Compared to actual figures from 2023, the trade balance shows a slight but steady negative growth year on year.
Year-on-year percentage variation:
- 2024: -0.32% (Compared to 2023)
- 2025: -0.32%
- 2026: -0.32%
- 2027: -0.35%
- 2028: -0.33%
CAGR analysis shows that the trade balance is expected to decline at a compound annual growth rate of approximately -0.33% over the next five years.
Future trends to watch for:
- Impact of Brexit on aerospace trade relations.
- Advancements and investments in emerging aerospace technology.
- Global economic conditions and their influence on international trade.
- Changes in regulatory policies or trade agreements.
- Competitor advancements within the aerospace sector, especially from non-European markets.