In 2023, the total hours worked in the air and spacecraft and related machinery sector in Canada stood at 121.9 million hours. From 2024 through 2028, the forecasted hours illustrate a gradual increase each year, with 2028 reaching 129.23 million hours. The year-on-year percentage growth between these years is approximately 1-1.2%. The compound annual growth rate (CAGR) over five years is about 1.18%, highlighting a consistent upward trend in hours worked within this sector.
Future trends to watch for include:
- Technological advancements potentially altering workforce demands.
- Regulatory changes impacting the aviation and aerospace industry.
- Global economic shifts affecting the Canadian market.
- Increased focus on sustainability and its impact on operations.
