The value added of air transport in Spain has shown robust growth over the past decade, increasing from 2.14 billion euros in 2013 to 3.31 billion euros in 2023. This growth reflects an overall strengthening of the sector, marked by some fluctuations, especially negative growth in 2019. The Compound Annual Growth Rate (CAGR) over the last 5 years (2018-2023) stood at 1.51%, suggesting a mild but steady increase. Year-on-year growth has also moderated recently, reducing from over 10% in earlier years to just above 2% in 2023.
Future trends to watch for:
- Continued growth at a forecasted CAGR of 1.43% for 2024-2028, reflecting a mature market.
- Diversification in air transport services, particularly with an emphasis on sustainability and technology integration.
- Potential disruptions due to geopolitical factors or significant changes in global air travel demand.
