The turnover for the repair and maintenance of aircraft and spacecraft in Belgium saw notable fluctuations between 2013 and 2023. The year 2014 experienced a significant dip of 13.04%, followed by a substantial increase of 35% in 2015. Over the next few years, there was a mix of moderate growth and steep declines, notably a 35.6% decrease in 2018 and a recovery with a 39.53% increase in 2019. The impact of external factors, likely the COVID-19 pandemic, led to an 18.29% decline in 2020. However, the market rebounded with growth rates of 9.61% in 2021 and 7.03% in 2022. In 2023, the market stood at 361.2 million euros, showing a year-on-year increase of 4.54%. The five-year CAGR from 2019 to 2023 was 6.94%, indicating overall robust growth despite past volatility.
Looking ahead, the forecast from 2024 to 2028 suggests a period of stabilization with minor increases, reaching 368.2 million euros in 2028. The average annual growth rate for this period is modest at 0.27%, with a total growth rate of 1.35% over five years.
Future trends to watch include advancements in aerospace technology, increased demand for sustainable practices, and potential economic impacts of geopolitical developments. The ongoing evolution in aviation regulations and technological innovations will also play critical roles in shaping the market dynamics. Close monitoring of these factors will be essential for anticipating future market shifts.
