The historical data on Belgium's aircraft and spacecraft production value indicates a fluctuating growth trajectory. From 2013 to 2023, the value increased from €1.45 billion in 2013 to €2.06 billion in 2023, showcasing various year-on-year variations. Significant growth periods included 2018 with a 5.56% increase, and 2021 with a substantial 46.28% recovery following the COVID-19 pandemic's impact in 2020. As of 2023, the sector stood at €2.06 billion, reflecting an overall positive trend with an average 5-year CAGR of 1.56%.
Looking ahead, from 2024 to 2028, forecasted data suggests a continued upward trend, closing at €2.36 billion in 2028. The average annual growth rate (CAGR) for this period is forecasted at 2.15%, indicating modest but stable growth.
Future trends to watch for include:
- Technological advancements and innovation in spacecraft leading to potential surges in production value.
- Global geopolitical changes influencing defense budgets and related investment in aerospace capabilities.
- Environmental regulations driving the development of more efficient and greener aircraft technologies.
- Post-pandemic recovery impacting travel demand and subsequent investments in aircraft production capacity.
