The sector of aircraft and spacecraft repair and maintenance in Belgium experienced variable growth over the past decade. In 2023, sold production stood at 311.07 million Euros. The market has shown significant fluctuations with strong increases in certain years, such as 2016 and 2019, and notable declines, particularly in 2014, 2020, and 2021. The average annual growth rate for the last five years (CAGR) was 3.38%, reflecting a moderate and somewhat stable upward trajectory.
Furthermore, forecasted data suggest continuous growth for the next five years with a forecasted 5-year CAGR of 1.47%, translating to an overall increase of 7.58% by 2028. The sector, thus, appears to be on a steady albeit slow-growth path.
Future trends to watch for include:
- Technological advancements in aircraft and spacecraft maintenance techniques.
- Impact of global economic conditions on the aerospace sector.
- Environmental regulations influencing repair and maintenance practices.
- Shifts in demand for air travel post-pandemic.
