The UK passenger air transport turnover experienced fluctuating growth from 2013 to 2023, peaking at 32.56 billion Euros in 2015 before dipping in 2016 and 2017. The value saw a gradual recovery from 2018 onwards, with minor year-on-year variations. As of 2023, it stood at 32.24 billion Euros, achieving a modest annual average growth rate (CAGR) of 0.72% over the past five years.
Looking ahead to the forecast period from 2024 to 2028, the turnover is expected to continue a slight upward trend with a projected 5-year CAGR of 0.69%, culminating in 33.68 billion Euros by 2028.
Future trends to watch for include:
- COVID-19 recovery: The ongoing impact on international travel patterns and airline operations.
- Environmental Regulations: Increasing pressure for greener aviation practices and their economic implications.
- Technological Advancements: Innovations in air transport that could influence turnover through efficiency and passenger experience improvements.
