The UK air transport sector exhibited moderate growth from 2013 to 2019, with turnover increasing from £24.11 billion to £28.82 billion. Despite a sharp decline in 2020 due to the COVID-19 pandemic, falling to £16.33 billion, the sector rebounded impressively in 2021, reaching £28.23 billion. By 2023, the turnover stood at £30.79 billion, marking a 1.75% year-on-year increase. From 2013 to 2023, the sector's Compound Annual Growth Rate (CAGR) was 2.16%.
In the forecasted period from 2024 to 2028, the sector is expected to grow steadily at a 1.37% CAGR, reaching £33.46 billion by 2028, representing an overall growth rate of 7.03% over this five-year period. These forecasts suggest continued recovery and expansion in the sector, albeit at a slower pace compared to its previous rebounds.
Future trends to watch for include:
- The impact of sustainable aviation fuel initiatives and advancements in electric aircraft technologies on operational costs and turnover.
- Shifts in passenger and cargo demand driven by global economic conditions and consumer preferences.
- Regulatory changes and post-Brexit adjustments impacting the UK's air transport sector operations and international competitiveness.
- Technological innovations and digital transformations enhancing operational efficiency and customer experience.
