The aircraft and spacecraft turnover in Belgium has experienced significant fluctuations over the past decade. The turnover value, expressed in Billion Euros, demonstrated a growth trend from 2013 to 2018, peaking in 2018 before a noticeable decline in 2019 and a sharp decrease in 2020. However, the industry rebounded strongly in 2021 and has been on a steady rise, reaching a notable value in 2023 of 2.08 Billion Euros. Year-on-year variation saw major changes, particularly in 2021 with a 43.81% growth, countering the downturn caused by the 2020 pandemic. Over the last two years, the market grew by 8.85% in 2023 and recorded a five-year CAGR of 1.87% from 2019 to 2023.
Future forecasts for the market are optimistic, with the turnover projected to reach 2.43 Billion Euros by 2028, signifying a forecasted 5-year CAGR of 2.46% and a total growth rate of 12.91%. Key future trends to watch include advancements in aerospace technologies, increased governmental and private sector investments, and sustainable aviation initiatives which are likely to drive market growth and introduce volatility.
