Between 2013 and 2023, the export of aircraft parts from Belgium experienced significant fluctuations. Actual data shows periods of strong growth, such as in 2017 with a year-on-year increase of 27.79%, and notable declines, such as in 2018 with a year-on-year decrease of 18.72%. The most recent year of actual data, 2023, reported a moderate growth of 2.03% from the previous year, where the export value stood at 1068.7 million USD.
Looking forward, the forecasted data from 2024 to 2028 suggests a steady upward trajectory. The projected CAGR for the next five years is modest at 1.57%, leading to a total forecasted growth rate of 8.11% over this period. The export value is anticipated to reach 1176.7 million USD by 2028.
Future trends to watch for include:
• Increasing global demand for aircraft components driven by the expansion of the aviation industry.
• Potential disruptions or acceleration in growth due to geopolitical developments or advancements in aerospace technology.
• The impact of environmental regulations and the shift towards sustainable aviation solutions on export dynamics.
