The value added of air transport in the US has shown significant fluctuations over the past decade. Starting from $78.21 billion in 2013, it peaked at $121.25 billion in 2019 before a severe drop to $49.54 billion in 2020 due to the COVID-19 pandemic. The sector rebounded in 2021 and reached $131.94 billion by 2023. The cumulative average growth rate (CAGR) over the last five years stands at 3.18%. Forecasts suggest continued growth, reaching $157.78 billion by 2028, with a forecasted five-year CAGR of 2.83% and a total growth of 14.99% over this period.
Future trends to watch for include:
- Technological advancements in air transport and their impact on efficiency
- Changes in regulations and their implications for the sector
- Shifts in consumer travel behavior post-pandemic
- Environmental policies influencing the adoption of greener technologies
- Economic factors such as fuel prices and their impact on operational costs
