The Aircraft and Spacecraft wages and salaries in Belgium saw a consistent increase from 2013 to 2018, peaking at €312.7 million in 2018 with year-on-year growth ranging between 1.44% and 7.51%. However, there was a significant drop in 2019, with a 24.37% decrease, aligning with a negative CAGR of -3.31%. This decline followed a period of robust growth and was only slightly mitigated by marginal year-on-year increases from 2020 to 2023. As of 2023, wages and salaries stood at €256.3 million.
Looking ahead, forecasts suggest a very modest recovery with an average annual growth rate (CAGR) of just 0.09% from 2024 to 2028. This projected stagnation indicates challenges within the industry, possibly due to economic uncertainties and evolving market dynamics.
Future trends to watch for:
- Potential impact of technological advancements on labor costs.
- Policy changes affecting the aerospace sector.
- Global economic shifts influencing budget allocations in aerospace.
