The air carriers (except major) industry in the US experienced a consistent decline between 2013 and 2023, decreasing from 51 units to 36 units in value. Year-over-year variations reveal an overall downward trend with minor shifts; notable years include a slight increase in 2016 and the largest declines in 2014 and 2021. The Compound Annual Growth Rate (CAGR) over the last five years ending in 2023 is -3.04%, signifying an average decrease per year. The 2023 value of 36 units highlights the persistent shrinkage of the industry.
Future trends to watch for:
- Technological advancements and innovations in aviation efficiency
- Potential regulatory changes impacting smaller air carriers
- Economic conditions influencing consumer demand for air travel
- Expansion in niche markets or specialized air services
