The aircraft and spacecraft industry in the UK has seen fluctuations in hours worked over the past decade, particularly between 2013 and 2015, where a significant increase was observed. However, from 2017 onwards, hours worked remained relatively stable, with slight increases recorded post-2018. As of 2023, the value stands at 170.43 million hours. The most recent two-year period shows almost negligible growth, with year-on-year variations of approximately 0.028%. The CAGR over the last five years stands at around 0.25%.
Projected data from 2024 through 2028 suggests a continuation of this stable trend, with minimal annual increments, indicating a low but consistent growth with a forecasted 5-year CAGR of 0.02%.
Future trends to watch for in the sector include advancements in aerospace technology, potential policy changes affecting labor, and shifts in global demand for aircraft and spacecraft manufacturing. Monitoring these factors will be crucial for anticipating more significant variations in workforce hours.