The Airport Construction Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Airport Construction Global Market Report 2024, The airport construction market size has grown steadily in recent years. It will grow from $1190.24 billion in 2023 to $1214.67 billion in 2024 at a compound annual growth rate (CAGR) of 2.1%. The growth in the historic period can be attributed to globalization and increased travel, air traffic growth, modernization and upgrading, government investments, security upgrades, tourism industry growth.
The airport construction market size is expected to see steady growth in the next few years. It will grow to $1351.85 billion in 2028 at a compound annual growth rate (CAGR) of 2.7%. The growth in the forecast period can be attributed to emerging markets expansion, environmental considerations, infrastructure resilience, urban air mobility, capacity expansion. Major trends in the forecast period include remote and regional connectivity, technological integration for smart airports, upgrades in air traffic management systems, modular construction techniques, public-private partnerships (PPPs) for funding.
The growing air traffic is expected to drive the growth of the airport construction market going forward. Air traffic refers to the procedure or technique by which ground personnel coordinates radio communications with pilots to monitor and control aircraft movements. With airport operators and airlines expanding capacity, the airport construction market is undergoing significant expansion. For instance, according to the report by International Civil Aviation Organization, a US-based agency that coordinates international air navigation, in May 2022, shows that when compared to the same period in 2021, the global number of passengers carried by air climbed by 65% from January to April 2022, while the number of aircraft departures increases by 30%</b>. Airline seat capacity increased by 32% over the same period. Therefore, the surge in air traffic will benefit the airport construction market in the forecasting period.
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The airport construction market covered in this report is segmented –
1) By Technology: Security Systems, Communication Systems, Passenger, Cargo and Baggage Ground Handling Control, Air or Ground Traffic Control
2) By Location: Landside, Airside, Terminal Side
3) By Applications: Defense and Military, Commercial And Civil
Major companies operating in the airport construction market are increasing their focus on introducing smart airport solutions to gain a competitive edge in the market. Smart airport solutions refer to advanced technologies and integrated systems that enhance efficiency, security, and the passenger experience in airports. For instance, in November 2023, Huawei Technologies Co. Ltd., a China-based technology company, launched a series of innovative smart airport solutions for international markets at the Airports Innovate Exhibition in Muscat, Oman. These solutions include the Fully Connected Fiber Network Solution, Smart Airport Perimeter Security with Fiber, Airport Cloud, and panoramic smart airport solutions. The solutions are designed to serve customers worldwide and improve their airport experience .
The airport construction market report table of contents includes:
1. Executive Summary
2.Airport Construction Market Characteristics
3. Airport Construction Market Trends And Strategies
4. Airport Construction Market analysis
5. Airport Construction Market Size And Growth
6. Airport Construction Segmentation
7.Airport Construction Regional And Country Analysis
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27. Airport ConstructionCompetitive Landscape And Company Profiles
28.Airport Construction Key Mergers And Acquisitions
29.Airport Construction Future Outlook and Potential Analysis
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