The production in the Service Activities Incidental to Air Transportation sector in Finland has experienced various fluctuations over the past decade. From 2013 to 2019, the sector showed a generally positive trajectory, with notable growth particularly from 2016 to 2019. The year 2020, however, marked a significant downturn due to the pandemic, showing a dramatic decrease of 54.31% year-on-year.
Recovery began in 2021 with an impressive year-on-year increase of 64.3%, followed by steady gains in 2022 and 2023. As of 2023, the sector's production stood at 732.6 million euros, marking a considerable rebound. Over the last two years, the sector has maintained strong positive growth, with year-on-year variations of 25.26% in 2022 and 14.27% in 2023. The compound annual growth rate (CAGR) over the last five years is recorded at 2.24%.
The forecasted data from 2024 to 2028 suggests moderate but consistent growth, with the forecast 5-year CAGR at 0.67% and a forecast 5-year growth rate of 3.39%. This indicates a more stable and gradual improvement in sector performance moving forward.
Future trends to watch for include:
- Technological advancements in air transportation services
- Regulations and eco-friendly initiatives affecting operational costs
- Potential impacts of global economic cycles and geopolitical influences
- Recovery trajectory post-pandemic and adaptability to new market demands
