The gross income of the air transport sector in Belgium has experienced several fluctuations over the past decade. After noticeable growth between 2013 and 2014, the sector saw periods of stagnation and volatility. During 2018-2019, there was significant growth but a notable decline in 2020. The recovery began in 2021 and continued up to 2023, with the industry standing at 1,600.0 thousand euros in 2023. Year-on-year variations indicate high volatility, particularly around 2020. The average annual growth rate over the last five years (CAGR) was 2.71%, demonstrating moderate growth.
Future trend watch:
- Potential impact of economic factors and fuel prices on income
- Technological advancements and their adoption in the air transport sector
- Environmental regulations and their effect on operational costs
- Changes in consumer travel behavior post-pandemic
- Continued recovery and potential over 3.3% CAGR up to 2028
