Based on the data for the UK market turnover for the repair and maintenance of aircraft and spacecraft from 2013 to 2023, the sector experienced a notable fluctuation. The turnover peaked in 2015 at 5.76 billion Euros, followed by a significant dip in 2016. Thereafter, gradual recovery ensued until 2018. A slight decline occurred again in 2019 and 2020, but the industry rebounded in 2021 and continued to grow, standing at 5.33 billion Euros in 2023.
Year-on-year analysis shows substantial variations:
- From 2019 to 2020, the turnover fell by 3.94%.
- From 2020 to 2021, there was a slight increase of 1.08%.
- From 2021 to 2022, the sector grew by 6.37%.
- From 2022 to 2023, the increase was moderate at 1.02%.
Forecasts predict modest growth in the sector, with a forecast CAGR of 0.82% over the next five years, leading to an estimated turnover of 5.59 billion Euros by 2028. Future trends to watch for include technological advancements in aircraft maintenance, increased demand for more efficient and eco-friendly solutions, and potential impacts from regulatory changes and global economic fluctuations.