Airport Construction Projects' market size was valued at USD 1124.5 billion in 2022. The Airport Construction Projects market industry is projected to grow from USD 1180.7 Billion in 2023 to USD 1744.4 Billion by 2032, exhibiting a compound yearly growth rate (CAGR) of 5.00% during the forecast period (2023 - 2032). The continuous increase in air travel demand and the evolving regulatory landscape and international safety standards are the key market drivers enhancing market growth.
Source The Primary Research, Secondary Research, MRFR Database and Analyst Review
Market CAGR for airport construction projects is being driven by the continuous increase in air travel demand. With the growing number of air travelers, airports face the imperative to broaden and modernize their infrastructure to accommodate the surging influx of passengers and improve operational efficiency. The growing demand for air travel is closely tied to factors like economic growth, ization, and a surging middle class, all contributing to increased mobility and desire for international travel experiences.
Large-scale airport construction projects are frequently initiated to address capacity constraints, ensuring that airports can handle the surging number of flights and passengers efficiently. Moreover, the rise in demand for air travel necessitates the development of new airports in developing markets and the expansion of functioning ones in established hubs. Terminals are expanded or built anew to offer additional boarding gates, security facilities, check-in counters, and baggage handling systems. This accommodates more travelers and also enhances the overall passenger experience, meeting the evolving expectations of modern air travel. These projects are important for facilitating economic growth, assisting international trade, and creating job opportunities in the construction and aviation sectors. The aviation industry's response to the increase in air travel demand also involves technological advancements, like the incorporation of automated systems, smart infrastructure, and digital solutions. Airport construction projects often incorporate cutting-edge technologies to improve operational efficiency, enhance security measures, and give a seamless travel experience for passengers.
Further, the ization of supply chains and the interconnectedness of businesses throughout the borders contribute to growing cargo traffic. The competition among airports to attract airlines and passengers further fuels the need for construction projects that enhance the overall attractiveness of an airport. Airports, recognizing the importance of air freight in the economy, undertake construction projects to grow the cargo facilities, inclusive of dedicated cargo terminals and apron areas equipped to handle larger and more comprehensive aircraft. This includes the creation of world-class amenities, retail spaces, lounges, and other services, contributing to a positive and memorable traveler experience. Moreover, the continuous surge in air travel demand prompts airports to prioritize sustainability in their construction projects. Green building practices, energy-efficient technologies, and eco-friendly designs are included in airport development plans to align with environmental initiatives and address concerns related to the carbon footprint of the aviation industry. Thus, driving the Airport Construction Projects market revenue.
Airport Construction Projects Funding Insights
The Airport Construction Projects market segmentation, based on funding, includes Public, Private, and Hybrid. The public segment dominated the market, accounting for the largest market revenue due to the significant capital demand for infrastructure development. Public funding makes sure accessibility and affordability align with broader socioeconomic objectives. Governments usually play an important role in financing such projects to meet public transportation needs. Additionally, it prioritizes strategic airport investments for national economic growth and connectivity. The involvement of public funds also boosts better oversight, regulation, and coordination for the planning and execution of airport construction, addressing public interest and safety concerns.
Figure 1: Airport Construction Projects Market, by Funding, 2022 & 2032 (USD Billion)
Source The Primary Research, Secondary Research, MRFR Database and Analyst Review
Airport Construction Projects Funding Insights
The Airport Construction Projects market segmentation, based on funding, includes defense and military, commercial, and civil. The commercial & civil category dominates the market due to the increasing demand for air travel ly. Civil applications, like government-funded initiatives and public infrastructure development, play an important role in ensuring the efficiency and safety of air transportation. The commercial sector, driven by the growth of airlines and air cargo services, necessitates the expansion and modernization of airport infrastructure to accommodate larger volumes of passengers and goods. Altogether, these factors lead to the dominance of these applications in shaping the landscape of airport construction projects.
Airport Construction Projects Regional Insights
By region, the study provides market insights of North America, Europe, Asia-Pacific, and the Rest of the World. The North American Airport Construction Projects market area dominates this market due to its high passenger volumes, large air transportation network, and well-established aviation industry. The region's economic strength, along with continuous infrastructure investments and technological advancements, positions North America as a leader.
Further, the prime countries observed in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, Japan, China, India, Australia, South Korea, and Brazil.
Figure 2: AIRPORT CONSTRUCTION PROJECTS MARKET SHARE BY REGION 2022 (USD Billion)
Source The Primary Research, Secondary Research, MRFR Database and Analyst Review
Europe Airport Construction Projects market accounts for the second-largest market share due to the rising air travel demand, growing regulatory requirements, and the importance of airports to improve infrastructure. Further, the German Airport Construction Projects market held the largest market share, and the UK Airport Construction Projects market was the fastest-growing market in the European region.
The Asia-Pacific Airport Construction Projects Market is expected to grow at the fastest CAGR from the year 2023 to 2032. This is due to the increasing air travel demand, rapid economic growth, and surging urbanization in the Asia Pacific region. Moreover, China’s Airport Construction Projects market held the largest market share, and the Indian Airport Construction Projects market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Airport Construction Projects market grow even more. Market players are also undertaking different strategic activities for expanding their footprint, with important market developments inclusive of mergers and acquisitions, new product launches, contractual agreements, higher investments, and collaboration with other organizations. To expand and survive in the more competitive and rising market climate, the Airport Construction Projects industry must offer cost-effective items.
Manufacturing locally to minimize the operational costs is one of the key business tactics used by the manufacturers in the Airport Construction Projects industry to benefit the clients and grow the market sector. In recent years, the Airport Construction Projects industry has offered some of the most significant advantages to the aviation industry. Major players in the Airport Construction Projects market, including 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 others, are trying to raise market requirements by investing in the research and development operations.
Vinci Airports is a airport operator and a subsidiary of the Vinci Group, a leading concessions and construction company headquartered in France. The company is popular for its expertise in improving the passenger experience, optimizing airport operations, and investing in sustainable and environmentally friendly practices. Vinci Airports manages and operates numerous airports ly, offering a range of services, including airport construction, development, and management. In September 2023, Vinci Airports partnered with Airportia, a French company specializing in airport technology and passenger experience. This partnership focuses on creating and implementing innovative solutions for baggage handling, passenger processing, and security screening across Vinci's network of airports.
Fluor Corporation is the engineering and construction firm known for its expertise in offering integrated solutions across different industries, including infrastructure, energy, and government. Fluor has earned a reputation for executing complex projects ly, leveraging its engineering, fabrication, construction, procurement, and maintenance capabilities. The company's diverse portfolio encompasses projects in oil and gas, power, mining, and industrial sectors, reflecting its commitment to providing innovative and sustainable solutions. In August 2023, engineering giants Fluor and Stantec formed an alliance to pursue opportunities in the infrastructure market, including airport development. This collaboration combines Fluor's expertise in project execution and Stantec's design and engineering skills, offering clients a comprehensive solution for complex airport projects.
Key Companies in the Airport Construction Projects market include
For Instance, June 2023 Airbus partnered with Fraport, the operator of Frankfurt Airport, in order to explore the integration of the electric vertical take-off and landing (eVTOL) aircraft into existing airport infrastructure. This partnership helps both companies for the future of the urban air mobility and its potential impact on airport design and operations.
For Instance, July 2023 WSP, a leading professional services firm, acquired Parsons Corporation, a major player in the engineering and construction industry with the best expertise in airport projects. This acquisition enhances WSP's position in the transportation sector and broadens its portfolio of airport design and construction capabilities.
For Instance, May 2023 Aéroport de Paris acquired a majority stake in SEA Airports, the operator of Shenzhen Bao'an International Airport. This strategic move offers Aéroport de Paris a foothold in the rapidly rising Chinese aviation market and opens up opportunities for collaboration on airport development and management.
Airport Construction Projects Funding Outlook
Airport Construction Projects Application Outlook
Airport Construction Projects Regional Outlook
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 1124.5 Billion |
| Market Size 2023 | USD 1180.7 Billion |
| Market Size 2032 | USD 1744.4 Billion |
| Compound Annual Growth Rate (CAGR) | 5.00% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, the Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Funding, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, Japan, China, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | 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 |
| Key Market Opportunities | Evolving regulatory landscape and international safety standards. |
| Key Market Dynamics | The continuous increase in air travel demand. |
Frequently Asked Questions (FAQ) :
The Airport Construction Projects market size was valued at USD 1124.5 Billion in 2022.
The market is foreseen to rise at a CAGR of 5.00% during the forecast period, 2023-2032.
North America held the biggest share in the market.
The key players in the 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.
The public category dominated the market in 2022.
The commercial & civil had the largest share in the market.
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