Between 2013 and 2023, Austria's air transport production volumes experienced significant fluctuation. From a high of 4.1 billion Euros in 2013, it stagnated and showed a downward trend, particularly hitting a low in 2020 at 2.54 billion Euros due to the COVID-19 pandemic. The following two years saw a gradual recovery, but the 2023 value of 2.95 billion Euros still reflected an overall decline. The year-on-year percentage variations depict this volatility, and the last five-year CAGR suggests a continued decline of 1.85% annually.
Forecasting the future, from 2024 to 2028, the production volumes are projected to slightly decline from 2.9 billion Euros to 2.74 billion Euros, with an average annual decrease (CAGR) of 1.08%. This signals a continued drop, albeit slower compared to the previous decade.
Future trends to watch for include:
- Technological advancements in air transport efficiency and cost reduction.
- Regulatory and environmental policies impacting the industry.
- Post-pandemic recovery and changing travel behaviors.
- Competitor activity within the European air transport market.
- Developments in alternative transport modes affecting air travel demand.
