Between 2013 and 2019, the passenger air transport sector in the UK showed modest growth with minor fluctuations, reaching a peak turnover of 28.16 Billion Pounds Sterling in 2019. The severe impact of the COVID-19 pandemic in 2020 caused a dramatic decrease of nearly 60% to 11.37 Billion Pounds. The sector rebounded strongly in 2021 and 2022, with turnover recovering to 29.44 Billion Pounds in 2022. In 2023, it stood at 29.93 Billion Pounds, reflecting a steady increase with a year-on-year variation of 1.66% and a five-year CAGR of 1.69%.
Looking forward, the forecasted turnover from 2024 to 2028 indicates a consistent, albeit modest, growth trajectory. With an average annual growth rate of 1.37%, the sector is expected to achieve a turnover of 32.05 Billion Pounds by 2028, marking a projected five-year growth rate of 7.02%.
Future trends to watch for include potential impacts of economic conditions, regulatory changes, advancements in air travel technology, and shifts in consumer preferences towards sustainable travel options. Furthermore, external factors such as global geopolitical dynamics and health-related disruptions could also significantly influence the sector’s performance.
