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Airport Construction - Global Market Trajectory & Analytics

  • ID: 4805140
  • Report
  • September 2020
  • Region: Global
  • 467 pages
  • Global Industry Analysts, Inc
The global Airport Construction market is projected to reach US$1.4 trillion by 2025, driven by growing government focus on building infrastructure which is key to economic growth and societal evolution. While governments in developed countries are investing predominantly for infrastructure replacement and upgrades, in developing countries investments are directed towards the creation of new infrastructure. The new budgetary focus on infrastructure comes at a time when infrastructure around the world is collapsing as a result of chronic underfunding of critical infrastructure. Posed to benefit in this regard is airport infrastructure. The global aviation industry has evolved considerably over the years and is currently regarded as a key barometer of the economic health of a nation. Airports and airlines link countries and cities across the globe facilitating worldwide trade, business trips, and tourism, all of which are of great importance to the economic prosperity of a given nation or a region. Globalization of economies has increased cross-border trade and commerce turning airlines into a key carrier of export and import freight.

Countries worldwide are increasing their budgetary outlay for airport infrastructure development in order to meet the growth in demand for air travel services. Policy led focus on infrastructure expansion as essential to ensure growth is creating a global investment pool of over US$1 trillion for airport construction. Few of the factors driving the growth in travel include lower fuel prices induced air fares and the ensuing increase in passenger traffic; increase in fleet size and frequency of air trips, number of air routes; lower cost of capital and the resulting airliners decision to replace aging fleets. Income elasticity of air travel is especially high in developing countries where increase in income results in increased spending on air travel. Global air traffic is expected to increase from 4.45 billion air passengers in 2019 to over 5.88 billion by 2025. Global aircraft fleet is also expanding in response to this growth from 25,760 aircraft in 2018 to over 50,460 aircraft by 2038. The growing base of affluent middle class population has and will continue to drive gains in passenger traffic in the coming years. The factors fueling growth of commercial aviation sector in each geographic market varies extensively, with, for example, the North American market benefitting from increasing domestic travel. Asia is slated to become the worlds largest travel market, and China is expected to emerge as the largest global domestic market for air travel.

Developing countries, which have traditionally suffered from inadequate and underdeveloped aviation infrastructure are investing heavily in the construction of new airports. Characterized by huge population, increasing urbanization and vast expanse of land that necessitates extensive travelling within the nation, India and China especially present robust opportunities for the aviation industry. China continues to remain hub of commercial, business and trading activity, which makes aviation, airlines and airport infrastructure in the nation a critical investment area. China, for instance, is on course to develop over 100 new airports, while upgrading and expanding other airports throughout the country. With the Beijing Capital International Airport becoming increasingly crowded, the country is currently planning the construction of a second airport for Beijing called Beijing Daxing International Airport slated for completion by the year 2025. Hong Kong and Vietnam also represent other major countries with mega airport projects under construction. India, on the other hand, has several ambitious new green field airport projects up its sleeve supported by steady economy, increasing employment and business opportunities, and growing propensity to spend on air travel, booming airline operations in these nations. Asia-Pacific excluding China represents the largest market worldwide with a share of 28.1%. China ranks as the fastest growing market with a 5.8% CAGR over the analysis period.

Competitors identified in this market include, among others:
  • AECOM
  • Austin Industries
  • Bechtel Corporation
  • Fluor Corporation
  • Hensel Phelps Construction Company
  • Hill International, Inc.
  • GMR Group
  • Jacobs Engineering Group
  • L&T Construction
  • McCarthy Holdings, Inc.
  • PCL Constructors, Inc.
  • Skanska USA, Inc.
  • Suffolk Construction
  • Sundt Construction
  • TAV Construction
  • The Walsh Group
  • Turner Construction Company
Note: Product cover images may vary from those shown
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • An Introduction to Airport Construction
  • Airport Construction Market: Poised for Stable Growth
  • Global Economic Outlook: Implications for Airport Construction Market
  • Global Economic Outlook: Real GDP Growth Rates in % by Country/Region for the Years 2017 through 2020
  • Global Competitor Market Shares
  • Airport Construction Competitor Market Share Scenario Worldwide (in %): 2019
  • Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • Surging Demand for Air Travel Drives Need for New Airport Construction and Expansion Projects
  • Demand Growth in Global Air Traffic Passenger Traffic for the Period 2006-2019
  • Global Air Traffic Demand: Number of Air Passengers in Billion for the Years 2011 to 2025F
  • Shift towards Larger Aircrafts, Increase in Aircrafts in Operation and Number of Flights Undertaken by Airlines: A Market Opportunity
  • Global Aircraft Fleet by Aircraft Type for the Years 2018 and 2038
  • Number of Flights Performed by Airline Industry Worldwide in Millions for the Years 2011, 2013, 2015, 2017 and 2019
  • Increasing Investments into New Airport Constructions, Development Projects & Modernization Plans
  • Global Investments into New and Existing Airport Construction Projects in US$ Billion for the Years 2018-2022
  • Airport Improvement Projects: Percentage Breakdown of Global Investments for Improvement of Existing Airport by Type for the Period 2018-2022
  • Airport Construction Projects Scheduled for Conclusion in the Near Future: A Review
  • Existing Airport Construction Projects in Asia-Pacific
  • New Airport Construction Projects in Asia-Pacific
  • Existing Airport Construction Project in the United States
  • Airport Construction Project in Latin America
  • Number of Airports Worldwide with Paved Runways by Select Countries
  • World's Largest Airport Construction Projects
  • Airport Construction Projects Worldwide: Percentage Breakdown of Investment by Funding Type for the Year 2018
  • Emergence of Smart Airports: An Opportunity for Growth
  • Global Smart Airports Market: Annual Spending Figures in US$ Million by Geographic Region for the Years 2018 and 2024
  • Latest Trends Promoting Airport Construction Efficiency
  • Airports Embrace New Solutions to Integrate Technology into Construction Projects
  • Technology Advancements in New Airport Terminal Projects
  • Technology Integration at Airport and Terminal Construction Stages Offers Significant Advantages
  • Engineered Fabric Buildings in Airport Construction
  • Advantages of Engineered Fabric Structures
  • Environmental Sustainability, Pollution and Waste from Airports: Major Concerns for Airports Worldwide
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES
  • Construction Projects to Revamp and Uplift US Airports
  • A Glance at Major Airport Construction Projects in the US
  • Market Analytics
CANADA

JAPAN

CHINA
  • China Focuses on Establishing New Airports
  • Number of Civil Airports in China for the Years 2010, 2012, 2014, 2016 and 2018
  • Market Analytics
EUROPE

FRANCE

GERMANY

ITALY

UNITED KINGDOM

SPAIN

RUSSIA

REST OF EUROPE

ASIA-PACIFIC
  • Major Developments and Trends Set to Shape Airports of the Future in Asia-Pacific
  • Market Analytics
AUSTRALIA

INDIA
  • Government Plans New Construction and Expansion Projects for Airports, Fueling Growth in the Airport Construction Market
  • A Glance at Upcoming Airports in India
  • New Tariff Model: A Disadvantage for Developers of Greenfield Airports
  • Market Analytics
SOUTH KOREA

REST OF ASIA-PACIFIC

LATIN AMERICA

ARGENTINA

BRAZIL

MEXICO

REST OF LATIN AMERICA

MIDDLE EAST

IRAN

ISRAEL

SAUDI ARABIA

UNITED ARAB EMIRATES

REST OF MIDDLE EAST

AFRICA

IV. COMPETITION
  • Total Companies Profiled: 58
Note: Product cover images may vary from those shown
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