The air transport sector in Belgium saw production rising to 4.39 billion Euros in 2023. From 2013 to 2023, the sector experienced variability with notable peaks and troughs. The highest year-on-year increase was in 2019 with a 42.3% growth, followed by a significant drop in 2020 due to the pandemic. The post-pandemic recovery began in 2021 and continued with steady growth up to 2023. The five-year CAGR ending in 2023 was 4.49%, indicating a moderate average annual growth.
Forecasts indicate continued growth in the sector, reaching 4.78 billion Euros by 2028. The expected five-year CAGR from 2024 to 2028 is 1.35%, showing a stable yet slower growth trajectory compared to the previous five-year period.
Future trends to watch for:
- Impact of sustainability initiatives and carbon reduction policies.
- Technological advancements in aircraft and airport operations.
- Alterations in travel patterns and demand due to global economic conditions.
