The output of air transport in Australia has experienced significant fluctuations over the past decade. Between 2013 and 2023, it showed moderate growth due to general industry expansion, peaking in 2018. The industry faced a sharp decline in 2020 likely due to the COVID-19 pandemic, but it rebounded in the following years, reaching 28.91 Billion Australian Dollars in 2023.
Recent trends show a strong recovery phase with an overall year-on-year gain of 15.57% from 2022 to 2023. The Compound Annual Growth Rate (CAGR) over the last five years, which includes the pandemic period, is approximately -0.9%.
Forecasts from 2024 to 2028 project a stable growth rate in air transport output, with the CAGR anticipated to be around 0.85%. These forecasts suggest gradual recovery and stabilization of the industry, reaching 30.49 Billion Australian Dollars by 2028.
Future trends to watch for include:
- The impact of sustainable aviation initiatives on the industry.
- Changes in global travel demand and consumer behavior post-pandemic.
- Technological advancements in air transport efficiency and safety.
- Possible regulatory changes affecting international air travel.
