The production of avionics in Spain experienced significant fluctuations from 2013 to 2023. The industry saw a dynamic growth phase between 2013 and 2016, evidenced by remarkable year-on-year increases and a favorable CAGR. This pattern reversed from 2017 onwards, reflected by negative growth with a dramatic 52.6% decrease in 2019, followed by a continued decline through 2020. Recovery began slowly in 2021, with modest annual gains continuing through 2023, which stood at 1.62 thousand items.
Forecasts for 2024 to 2028 suggest a period of moderate, steadier growth with an anticipated average annual increase of 2.13%, culminating in an overall growth rate of 11.12% by 2028. Key trends to watch include technological advancements, regulatory changes, and increased competition from emerging markets.
