The air transport sector in Spain experienced significant fluctuations between 2013 and 2023, standing at 14.1 billion Euros in 2023. The production value saw robust growth until 2019, followed by a drastic decline in 2020 due to the impact of the COVID-19 pandemic. Recovery began in 2021, with an impressive 76.9% year-on-year growth, and continued to grow through 2023 with a 16.92% increase. Over the last five years, the sector's compound annual growth rate (CAGR) averaged 3.34%.
Future trends to watch for include advancements in sustainability, technological innovations in air transport, and potential disruptions from emerging travel alternatives. Additionally, monitoring economic recovery impacts and consumer confidence in air travel will be crucial for forecasting the industry's development. By 2028, the sector is expected to grow at an average CAGR of around 2%, indicating steady, albeit modest, expansion.
