The air transport production in Belgium reached 4.59 billion Euros in 2023, showing a moderate growth of 2.01% year-on-year. Over the past decade, this sector has experienced fluctuations, including a significant dip in 2020 due to a -17.96% annual drop, likely caused by the global pandemic. The recovery was swift, with an average CAGR of 3.48% over the last five years (2019-2023).
Looking forward, the sector is forecasted to grow steadily from 2024 to 2028, with an average annual growth rate of 1.56%, resulting in a total increase of 8.06% over the five-year period.
Future trends to watch for include:
- Technological advancements improving efficiency and capacity.
- Environmental regulations impacting production costs and strategies.
- Potential geopolitical changes affecting air transport routes and demand.
