What Is The Current and Historic Market Size Analysis Of Airport Construction Market?
The airport construction market has seen considerable growth due to a variety of factors.
• The size of the market for airport construction has seen a modest increase recently. Its projected growth is from $1204.07 billion in 2024 to $1224.73 billion in 2025, with a compound annual growth rate (CAGR) of 1.7%.
This uptick during the historical period is credited to factors such as globalization and the surge in international travel, growth in air traffic, infrastructural modernization, government funding, improvements made in security, and expansion of the tourism industry.
What is the Forecasted Market Size and CAGR for the Airport Construction Market?
The airport construction market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for airport construction is projected to experience consistent growth in the coming years. It is expected to escalate to $1404.95 billion by 2029, with a compound annual growth rate (CAGR) of 3.5%.
The expansion in the forecast period is likely due to the growth of emerging markets, environmental factors, infrastructure durability, urban air mobility and capability enlargement. Notable market trends during this forecast period involve enhanced connectivity for remote and regional locations, technological advancements for intelligent airports, improvements in air traffic management systems, the utilization of modular construction methods, and the increased use of public-private partnerships (PPPs) for financial contribution.
What Are The Leading Drivers Of Growth In The Airport Construction Market?
The rise in air traffic is projected to fuel the expansion of the airport construction market. Air traffic involves the process through which ground staff engage in radio communications with pilots to oversee and regulate aircraft movements. As airlines and airport operators increase capacity, the airport construction market is experiencing considerable growth. For example, a report from the International Civil Aviation Organization, a US-based agency that oversees international air navigation, indicates a 65% increase in the global number of air passengers from January to April 2022 compared to the same period in 2021. Simultaneously, the number of aircraft departures increased by 30%, and airline seat capacity saw a 32% rise. As such, this growth in air traffic is predicted to be of great advantage to the airport construction market in the future.
What are the Market Segments in the Airport Construction Market?
The airport construction market covered in this report is segmented –
1) By Technology: Security Systems, Communication Systems, Passenger, Cargo and Baggage Ground Handling Control, Air or Ground Traffic Control
2) By Location: Landside, Airside, Terminal Side
3) By Applications: Defense and Military, Commercial And Civil
Subsegments:
1) By Security Systems: Access Control Systems, Surveillance Systems, Screening Systems
2) By Communication Systems: Public Address Systems, Intercom Systems, Data Communication Systems
3) By Passenger, Cargo, And Baggage Ground Handling Control: Baggage Handling Systems, Cargo Management Systems, Passenger Boarding Bridges
4) By Air Or Ground Traffic Control: Air Traffic Control Systems, Ground Traffic Management Systems, Navigation Systems
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What Trends are Shaping the Airport Construction Market?
The emergence of technology advancements in new airport terminal projects is an increasing trend witnessed in the airport construction market. Top-tier companies in this market are making strides in their technological and development pursuits to acquire a bigger market share. For instance, ADB Safedock, a US-based firm that offers solutions in airfield, gate, airport systems, and tower operations launched an exceptional Safedock X Advanced Visual Docking Guidance System (A-VDGS) in June 2022. This system propels the vision of fully automated airport apron management closer to realization by utilizing innovative surveillance technologies, modern display functionalities, and superior integration, thereby ensuring safe docking regardless of weather conditions. This newly unveiled display plays a crucial role in facilitating airport collaborative decision making (A-CDM), aiding in reducing delays and decreasing gate rotations as it can supply ample information to tackle any apron management task. The system includes a mobile operator panel that heightens the situational comprehension and flexibility of ground staff, while Safedock X is capable of featuring independent displays for both aircrew and ground personnel.
Who Are the Key Players in the Airport Construction Market?
Major companies operating in the airport construction market include:
• China State Construction Engineering Corporation
• Actividades de Construcción y Servicios S.A
• Vinci Construction
• Hochtief AG
• TAV Construction
• Larsen & Toubro Limited
• Bechtel Corporation
• Turner Construction Company
• Jacobs Engineering Group
• Fluor Corporation
• AECOM Technology Corporation
• Balfour Beatty
• Ferrovial SA
• Skanska USA Inc.
• Gilbane Building Company
• Hensel Phelps Construction Company
• Amadeus It Group
• PCL Constructors Inc.
• Parsons Corporation
• McCarthy Holdings Inc.
• Granite Construction Inc.
• Mace Group
• Austin Industries Inc.
• Shikun & Binui Ltd.
• Mott MacDonald
• Walsh Group
• Crossland Construction
• GMR Group
• Hill International Inc.
• GVK Industries Limited d/b/a.
• Bouygues Construction
• SNC-Lavalin Group Inc.
• Bechtel Corporation
• Turner Construction Company
• OHL Group
• Kier Group plc
What are the Regional Insights into the Airport Construction Market?
Asia-Pacific was the largest region in the airport construction market in 2024. North America is expected to be the fastest growing region in the forecast period. The regions covered in the airport construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
