Historical turnover in the UK freight air transport sector shows significant fluctuations. From 2013 to 2023, the sector experienced notable ups and downs with high variability year-on-year. Turnover peaked in 2014 and had notable drops in 2015 and 2017, but saw recovery phases notably in 2018. The values continued to decline post-2018 with minor recovery periods in 2021 and 2022. Turnover stood at £636.4 Million in 2023, depicting a slight decline from the previous year.
Future projections from 2024 to 2028 show a continuous downward trend, with a Compound Annual Growth Rate (CAGR) of -1.01%, signaling a shrinking market.
**Future trends to watch for:**
- The impact of global trade policies and Brexit on freight movement
- Technological advancements and efficiency improvements
- Rising fuel costs and environmental regulations
- Shifts toward sustainable logistics and alternative transport modes
