From 2013 to 2023, Spain's gas turbine engine exports have demonstrated a fluctuating yet overall increasing trend. In 2023, the export value stood at $1451.1 million USD. Significant jumps were observed in 2016 (+27.67%) and 2017 (+69.57%). However, the market also faced downswings in 2014 (-14.75%), 2018 (-40.56%), and 2020 (-14.2%). The compound annual growth rate (CAGR) over the last five years up to 2023 stands at 6.42%, reflecting robust growth despite intermittent contractions.

Future trends to watch for:

Maintaining Stability: A forecasted steady CAGR of 2.15% until 2028 suggests a stabilized growth trajectory.
Technological Advances: Innovations in turbine engine technology could further propel export values.
Geopolitical Factors: International relations and trade policies may significantly impact export dynamics.