The Spanish aircraft and spacecraft production industry saw fluctuations between 2013 and 2023, with a significant slump in 2020 due to external factors, subsequently recovering in the next few years. As of 2023, the industry stood strong at 3.719 billion Euros, reflecting a 9.98% year-on-year growth from the previous year. Analyzing the past 5 years, the compounded annual growth rate (CAGR) is almost flat at -0.076%, highlighting the industry’s recent volatility but with a recovery trend noted post-2020.

Future projections suggest steady growth, with the forecasted 5-year CAGR from 2024 to 2028 expected to average around 1.89%. By 2028, the expected value will reach 4.189 billion Euros, a total growth of approximately 9.81% from 2023.

Trends to watch for:

Continued recovery post-pandemic with a focus on sustainable technologies.
Potential impacts of global economic conditions and geopolitical factors.
Advancements in aerospace technology driving production increases.
Expansion into new markets and increased demand for innovative aerospace solutions.