New York, United States , Aug. 26, 2024 (GLOBE NEWSWIRE) -- The Global Airport Construction Projects Market Size to Grow from USD 1263.5 Billion in 2023 to USD 1855.2 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 3.92% during the forecast period.
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The airport construction projects market is expanding rapidly, driven by rising air transport demand and upgrading requirements. Governments and corporate investors are focusing on expanding existing airports and building new ones to increase capacity and improve the passenger experience. Rising urbanisation, technological developments, and the need for upgraded airport infrastructure to handle larger aircraft are key factors driving this industry forward. North America, Europe, and Asia-Pacific are major contributors to market growth, with rising economies showing significant potential. Furthermore, environmental sustainability and smart airport solutions are becoming key topics that influence project design and investment. As the aviation business grows globally, there are several opportunities for construction firms, equipment makers, and technology providers.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Airport Construction Projects Market Size, Share, and COVID-19 Impact Analysis, By Funding (Public, Private, and Hybrid), By Application (Defense & Military and Commercial & Civil), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033."
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Insights by Funding
The public segment accounted for the largest market share over the forecast period 2023 to 2033. Governments around the world recognise the strategic necessity of modernising airport infrastructure to stimulate economic growth, improve connectivity, and promote tourism. Public money is frequently used to expand existing airports, build new facilities, and integrate sophisticated technologies to increase operational efficiency and passenger services. Significant projects are currently underway in places such as North America, Europe, and Asia-Pacific, where governments are prioritising airport upgrades to satisfy increased airline demand. governmental-private partnerships (PPPs) are also becoming increasingly common, using private sector knowledge and finance to supplement governmental investments. This rising public segment is critical for meeting future air traffic demands and maintaining the aviation industry's growth.
Insights by Application
The commercial & civil segment accounted for the largest market share over the forecast period 2023 to 2033. Commercial investments are driven by airlines, private investors, and airport operators who want to improve customer experience, operational efficiency, and income streams through retail and hospitality services. Significant expansions and new airport developments are taking place in key hubs to accommodate larger planes and increasing passenger traffic. Government activities aimed at improving national and regional connections, disaster management, and military logistics drive the civil segment. Investments in runway extensions, terminal enhancements, and support facilities are significant priorities. The convergence of commercial objectives and civil needs creates a dynamic market landscape, ensuring extensive expansion and upgrading of airport infrastructure.
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Insights by Region
North America is anticipated to dominate the Airport Construction Projects Market from 2023 to 2033. Major airports in the United States and Canada are being significantly expanded and renovated to improve capacity, efficiency, and passenger experience. Terminal upgrades, runway extensions, and the integration of new technology like biometrics and automation are among the most important projects. The push for sustainability is also visible, with projects promoting green building methods and renewable energy sources. Government funding and public-private partnerships (PPPs) are important to enabling these advancements. Furthermore, the increase in container traffic needs better freight handling capabilities. Overall, the North American market is primed for further growth as it responds to the changing needs of the aviation sector and passenger expectations.
Asia Pacific is witnessing the fastest market growth between 2023 to 2033. Countries such as China, India, and Southeast Asian nations are spending extensively in new airport building and facility upgrades to accommodate rising passenger and freight traffic. This trend is shown by megaprojects such as the development of Changi Airport and Beijing Daxing International Airport. Technological advances, such as smart airport solutions and automated systems, are being incorporated to improve operational efficiency and passenger experience. Furthermore, there is an increasing emphasis on environmentally friendly construction techniques and green technologies. Government initiatives and corporate sector investments are critical to propelling these projects, establishing the Asia-Pacific area as a dynamic and fast increasing market for airport building.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Airport Construction Projects Market are Gilbane Building Company, Ledcor Group, Kimley-Horn, Doran Consulting, GMR Group, Treeland Builders, Fosroc, AFCONS Infrastructure Limited - A Shapoorji Pallonji Group Company, Hensel Phelps, AECOM, and Other Key Vendors.
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Recent Market Developments
- In June 2023, Airbus worked with Fraport, the operator of Frankfurt Airport, to examine the integration of electric vertical take-off and landing (eVTOL) aircraft with existing airport infrastructure.
Market Segmentation
This study forecasts revenue at global, regional, and country levels from 2023 to 2033.
Airport Construction Projects Market, Funding Analysis
- Public
- Private
- Hybrid
Airport Construction Projects Market, Application Analysis
- Defense & Military
- Commercial & Civil
Airport Construction Projects Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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