The Airport Infrastructure Market is to Touch $91.3 Billion by 2030; Technological advancements, including smart technologies, IoT, and automation, are transforming airport operations, enhancing efficiency and passenger experience are driving the dem

The Airport Infrastructure Market size is estimated to reach $91.3 billion by 2030, growing at a CAGR of 17.1% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Airport Infrastructure Market  – By Airport Type (Military/Defense, Commercial and Others), By Platform (Domestic and International), By Infrastructure Type (Green Field and Brown Field), By Application (Aeronautical services, Non-aeronautical services, Hangars, Maintenance, Repair and Overhaul (MRO) Facilities, Airport Terminal, Warehousing, Runways and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2023-2030”

Airports are investing in resilience and disaster preparedness to withstand unexpected events such as extreme weather conditions and pandemics. Furthermore, there's a significant shift towards digitalization and data-driven decision-making, utilizing big data analytics and predictive modeling to optimize resource allocation and enhance passenger satisfaction. The growth in global connectivity drives airports to expand and enhance facilities to handle increasing passenger numbers effectively. Technological advancements, like smart airport solutions, improve operational efficiency, ensuring a smooth passenger experience.

Asia Pacific dominated the Airport Infrastructure Market in 2023. The strategic geographical positioning, a robust economy, and a mature aviation sector make the region a pivotal hub for domestic and international air travel. According to the Ministry of Transport, six commercial airports in Vietnam are proposed for upgrading under the public-private partnership (PPP) format, aiming to meet development demands. The Civil Aviation Authority of Vietnam reports a 162.4% year-on-year increase in passenger traffic, serving 75 million passengers in the first nine months of this year. Key drivers in this sector include efforts to enhance efficiency and capacity by modernizing runways, taxiways, and terminal facilities.

The increasing global demand for air travel, driven by rising disposable incomes, expanding businesses, and tourism, mandates the expansion and modernization of airport facilities to accommodate higher passenger volumes and enhance overall travel experiences. Technological advancements and innovation are pivotal, as airports strive to integrate cutting-edge systems and processes to improve operational efficiency, safety, and security. Sustainability considerations have emerged as significant motivators, leading airports to invest in environmentally friendly infrastructure and renewable energy solutions to address environmental concerns and meet regulatory standards. The US airports managed approximately 83.1 million domestic and international passengers in August 2023, underscoring the nation's resilient aviation industry. In response to projected passenger growth, the US government intends to allocate nearly $1 billion in Airport Infrastructure Grants (AIGs) to further enhance airport facilities, reflecting ongoing investments in North American airport infrastructure. Government initiatives and policies aimed at strengthening national transportation networks and promoting economic growth are key factors contributing to the uptick in investments in airport infrastructure projects.

The surge in air travel demand is driven by rising disposable incomes, expanding business activities, and the growth of international tourism. With more travelers seeking air transport for leisure and business, airports face the challenge of efficiently handling growing passenger volumes and ensuring a seamless travel experience. According to the International Air Transport Association (IATA), air travel demand in 2023 reaches 94.1% of pre-pandemic levels, marking a 36.9% increase from 2022. By December 2023, demand rises to 97.5% compared to December 2019, indicating a 25.3% increase from the previous year. Consequently, airports are compelled to invest in expanding and modernizing their infrastructure. This includes developing new terminals, runways, and supporting facilities, as well as adopting advanced technologies to improve operational efficiency and passenger satisfaction. Furthermore, the rise of low-cost carriers and new air routes adds to the increasing demand for air travel, necessitating ongoing investments in airport infrastructure to meet evolving passenger needs and expectations. 

Key companies profiled in the Airport Infrastructure Market are Hensel Phelps, AECOM, Turner Construction Company, Skanska USA Inc., Austin Industries, PCL Constructors Inc., TAV Construction, McCarthy Building Companies, Inc., TÜV SÜD, WSP USA, GMR Group, Adani Group, ACCIONA, Balfour Beatty Plc, Herzog Corporation and others.