The number of registered air carrier departures in Viet Nam has shown significant growth over the past decade. From 2013 to 2019, the annual compound growth rate (CAGR) averaged between 12.84% and 14.88%, reflecting robust expansion. However, the industry experienced sharp declines in 2020 and 2021 due to the COVID-19 pandemic, with year-on-year drops of 36.06% and 44.72%, respectively. This trend reversed dramatically in 2022 with a 186.58% increase, followed by a 16.77% rise in 2023, setting the value at 392.71 thousand departures.
Looking ahead from 2024 to 2028, forecast data suggests steady growth with a projected 5% CAGR, leading to an estimated 27.64% cumulative increase by 2028. This suggests a substantial recovery and continued upward trajectory for the aviation sector in Viet Nam.
Future trends to watch for:
- The impact of potential new airline market entrants in Viet Nam.
- Technological advancements in air traffic management and fleet modernization.
- Changes in travel regulations and consumer behavior post-pandemic.
- Government policies promoting tourism and infrastructure development.
- Global economic factors influencing international air travel demand.
