Dublin, March 14, 2024 (GLOBE NEWSWIRE) -- The "India Airport Infrastructure Market Competition Forecast & Opportunities, 2028" report has been added to ResearchAndMarkets.com's offering.
India Airport Infrastructure Market is expected to register a robust CAGR during the forecast period due to increase in government spending, expansion & modernizing of airports.
The aviation industry plays an important role in the economic development of a country. The industry is vital to the long-term growth of the economy. Air travel facilitates the rapid and timely transportation of people and cargo that are vital to trade and commerce. The number of passengers in air traffic and the number of aircraft managed at airports continues to grow each year. This caused the airport terminal to become overcrowded. As passenger numbers increase, the existing airport infrastructure needs to be modernized. In addition, airports are being built in small towns and cities to improve connectivity. The airport needs upgrading in various areas such as better air traffic control systems, longer runways, and the ability to handle more passengers simultaneously. Passenger numbers are expected to double over the next 20 years, increasing the need to expand existing airport infrastructure to accommodate future increases in air traffic.
Additionally, as airlines look to expand connectivity, demand for airport infrastructure is likely to rise in smaller cities planning to build new airports. As demand for longer runways, more gate capacity, and improved air traffic control systems are needed for today's airports, these are likely to further drive the growth of the aviation infrastructure market over the next decade.
The Indian Air Transport Infrastructure Market is characterized by the presence of several regional players competing for new contracts for both construction and expansion of air transport infrastructure. Several new contracts have been awarded to support upcoming projects. The airport consists of three zones: cityside, terminal, and airside. The city side is primarily designed for easy access to the airport and is linked by road, metro or bus. Hospitality related to airport hotels is one of the components as they provide hotels for transit flyers and other business travelers. The centerpiece of the airport is the terminal with check-in desks, security checks and boarding bridges.
As part of the prime minister's UDAN policy, airports in Tier II and Tier III cities are being upgraded and privatized. India's aviation infrastructure is currently largely complete, however initiatives involving this sector have a long maturation period and must keep up with expansion to satisfy future demand.
India has grown to become the world's third largest domestic aviation market and is expected to overtake UK to become the third largest passenger market by 2024. According to IBEF (India Brand Equity Foundation) in 2023, the Indian aviation industry contributed 5% to the GDP and creates a total of 4 million jobs. In addition to this, the total value added to GDP of this industry is USD72 billion. According to the International Air Transport Association (IATA), India is expected to become the world's third largest air passenger market by 2030, surpassing China and the United States. As domestic traffic accounts for around 69% of all air traffic in South Asia, India's airport capacity is expected to manage 1 billion flights per year by 2023.
Report Scope:
In this report, India Airport Infrastructure Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
India Airport Infrastructure Market, By Airport Type:
- Brownfield Airports
- Greenfield Airports
India Airport Infrastructure Market, By Ownership:
- Government
- Private
- Public-Private Partnership
India Airport Infrastructure Market, By Component:
- Ground Support Equipment
- Fixed Equipment
- Airport Services
India Airport Infrastructure Market, By Application:
- Hangers
- Maintenance
- Repair & Overhaul Facilities
- Terminal
- Warehousing
- Runways
- Others
India Airport Infrastructure Market, By Region:
- North India
- South India
- West India
- East India
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the India Airport Infrastructure market.
A selection of companies mentioned in this report includes
- Airport Authority of India
- GMR Airports Infrastructure Ltd
- GVK Power & Infrastructure Limited
- Larsen & Toubro Limited
- Hindustan Aeronautics Ltd.
- VRH Construction Pvt. Ltd.
- Adani Enterprises Ltd
- Blue Dart Aviation Ltd
- Celebi NAS Airport Services India Pvt. Ltd
- Menzies Aviation Bobba (Bangalore) Pvt. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/ufz9vt
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