The aircraft and spacecraft turnover in Austria stood at 455.2 million Euros in 2023. The data signify a steady growth trend from 2013 to 2023, marked by periodic fluctuations. The turnover saw notable increases, particularly in 2017 with a 42.36% rise, followed by a slowdown and minor declines in 2018 and 2020. Nevertheless, the trend remained upward, culminating in a 5.1% year-on-year increase in 2023.
Over the past five years (2018-2023), the Compound Annual Growth Rate (CAGR) averaged 3.69%. Looking ahead to 2024-2028, the forecast indicates a 3.4% CAGR, reflecting an 18.17% growth rate over this period.
Future trends to watch for:
- Technological advancements driving industry growth.
- Increased demand for commercial and defense aircraft.
- Potential impacts of geopolitical factors on aerospace investments.
- Environmental regulations influencing new spacecraft designs.
