Between 2013 and 2019, Germany's air transport output fluctuated modestly, with occasional declines leading up to a significant drop in 2020 at the height of the COVID-19 pandemic. This led to a drastic decline of 40.64% year-on-year in 2020 compared to 2019. The industry showed resilience in 2021 with a robust recovery of 54.9%, continuing its upward trend into 2023, which recorded an 11.08% year-on-year increase, bringing the value to 26.89 Billion Euros. Over the last five years, the CAGR has slowly improved, reaching a positive trajectory by 2023 with a 0.8% average annual growth. The forecasted data suggest a continued steady growth, with the air transport output expected to reach 29.51 Billion Euros by 2028, which corresponds to a 5-year CAGR of 1.48% and an overall growth rate of 7.61% from 2024 to 2028.
Future trends to watch for include:
- Technological advancements in air transport improving efficiency and reducing costs.
- Environmental regulations and sustainability initiatives potentially impacting operational costs and strategies.
- Recovery dynamics post-COVID-19, especially on international travel demand.
- Growth in e-commerce driving increased demand for air freight services.
- Potential geopolitical factors affecting air transport routes and market stability.