The UK's aerospace industry export market share is forecasted to decline over the next five years, starting from 9.08% in 2024 and steadily decreasing to 8.89% by 2028. This represents a gradual annual decline of approximately 0.2% year-on-year.
Comparing the projections against the actual data from previous years, there has been a noticeable year-on-year decline in the market share, continuing a trend observed in 2023. The compound annual growth rate (CAGR) over the forecasted five-year period indicates a consistent downward trajectory, averaging a slight but steady decrease each year.
Future trends to watch for in the UK's aerospace industry export market share include possible impacts from global economic shifts, trade policies, advancements in aerospace technology, and competitive pressures from other international markets. These factors could either mitigate the decline or potentially accelerate it, depending on how the industry and policymakers respond.