Ken Research announced its latest publication on, “Project Insight-Global Airport Construction Projects” which provides a detailed market analysis of airport construction projects worldwide. The publication presents information and insights based on over 550 CIC projects in five major regions, including Asia-Pacific, Europe, Middle East and Africa, North America and South and Central America. It tracks airport construction activities and trends in 121 countries from the aforementioned regions, split by type and start date by value.
The rise in global airport construction investments is primarily attributed to the consistent increase in passenger traffic over the years. These investments belong to two major categories.
Firstly, there are new airport development projects being undertaken in the fast-growing Middle East and Africa and Asia-Pacific regions. In the Asia-Pacific region, parallel industries such as tourism and foreign trade are flourishing, driving the demand for more airports. China, for instance, is investing aggressively on planning and developing the new Beijing Daxing International Airport. In the Middle East and Africa, the emergence of multiple low-cost carriers is leading to a rise in aviation activity. For example, Saudi Arabia is increasing its aviation capacities to accommodate the increasing number of pilgrims visiting each year.
Secondly, investment projects are being undertaken in developed regions such as Europe and North America for enhancing the capacities of the existing airports. The UK has the highest value project pipeline with the planned expansion of London Heathrow Airport. Similarly, in the US, the renovation of O’Hare International Airport in Chicago is the highest valued investment project. In South and Central America, heavy investments are being made for the up-gradation of airport infrastructure, such as runways and terminals, as the existing airports become inadequate in the face of increasing air traffic.
Global Aviation Industry
Despite slow-moving global economic conditions, the aviation industry is projected to grow at a rapid pace. The reason why the airport construction market is not affected by the global economic downturn is the long time lapse between planning, conception, and completion. The outlook continues to be optimistic for airlines and airports with the fast building demand and stagnating oil prices on the cost dimension. The major drivers of growth in the aviation industry include the revival and expansion of tourism sectors, increased reach of low-cost airlines in developing economies, expansion of domestic air routes in the aviation market and rising air traffic.
Some of the significant trends of the global aviation industry include:
- Shift towards greater airport competition and commercialization
- Reduced cost as a reaction to the growing competition
- Continuing expansion of the Asian aviation market
- The need for reducing debt levels, keeping an eye on oil prices and preparing beforehand climatic changes.
- Increased spending on IT -enabled airport infrastructural capabilities such as accurate real-time information, automation in passenger screening and passenger processing
Key Topics Covered in the Report:
- Detailed airport construction market analysis
- Key operators in the airport industry
- Detailed metrics of each region’s airport construction projects
- Regional profile including general outlook and project analysis
- Categorization of project values on the basis of region, type and value
- Top 20 projects in each region
To know more on coverage, click on the link below:
Ankur Gupta, Head Marketing & Communications