The value added of air transport in Belgium reached €584.8 million in 2023, showing a year-on-year growth of 1.23% from 2022. Analyzing the data from 2013 to 2023, the sector has experienced fluctuations but demonstrates an overall positive trend. Key historical figures include significant growth in 2015 (19.02%) and a decline in 2017 (-5.26%). The Compound Annual Growth Rate (CAGR) over the last five years stands at 2.66%, signifying steady growth despite minor downturns.
Looking ahead, the forecasted data indicates continuity in growth with the value added expected to rise to €622.1 million by 2028, reflecting a forecasted five-year CAGR of 0.98%.
Future trends to watch for:
- Technological advancements in air transport and infrastructure.
- Regulatory changes affecting the aviation sector.
- Impact of environmental policies and sustainable practices.
- Market dynamics influenced by economic conditions and trade relations.
