The air transport output in Spain has exhibited significant fluctuations over the years, especially impacted by the pandemic in 2020, with a sharp nosedive of 59.06%. However, the sector showed strong resilience with robust recoveries in 2021 and 2022, featuring year-on-year growth rates of 27.64% and 80.43%, respectively. By 2023, the output in value terms stood at 15.18 billion Euros, marking a 20.3% increase from the previous year, with a five-year CAGR of 4.33% from 2019 to 2023. Future trends indicate a steady growth path with a forecasted five-year CAGR of 3.29% and an overall forecasted growth rate of 17.55% by 2028.
In the future, watch for trends such as advancements in sustainable aviation technologies, increased demand for air cargo transport driven by global e-commerce growth, and evolving regulations around carbon emissions impacting the strategy and operations within the air transport sector.
