LONDON – The global airport construction market is expected to grow from $1,134.39 billion in 2021 to $1,206.31 billion in 2022 at a compound annual growth rate (CAGR) of 6.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term.
The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The airport construction market is expected to reach $1,399.84 billion in 2026 at a CAGR of 3.8%.
Reportlinker.com has released the report “Airport Construction Global Market Report 2022: Ukraine-Russia War Impact”
Asia-Pacific was the largest region in the airport construction market in 2021. The regions covered in the airport construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of technologies in airport construction are security systems, communication systems, passenger, cargo, and baggage ground handling control, and air or ground traffic control.
Security systems refer to a collection of policies, procedures, tools, and resources designed to protect airport infrastructure, staff, and passengers against unauthorized conduct.
The various locations involved are landside, airside, and terminal side that are used in defense and military, commercial and civil applications.
The growth in air traffic
The growing air traffic is expected to drive the growth of the airport construction market going forward. Air traffic refers to the procedure or technique by which ground personnel coordinates radio communications with pilots to monitor and control aircraft movements.
With airport operators and airlines expanding capacity, the airport construction market is undergoing significant expansion.
For instance, according to the may 2022 report by International Civil Aviation Organization (ICAO), the global number of passengers carried by air climbed by 65% from January to April 2022, while the number of aircraft departures increased by 30%, compared to the same period in 202.
Airline seat capacity increased by 32% over the same period. Therefore, the surge in air traffic will benefit the airport construction market in the forecasting period.
Technology advancements in new airport terminal projects are a key trend gaining popularity in the airport construction market.
Major companies in the airport construction market are advancing in their new technologies and development, to gain market share.
For instance, in June 2022, ADB Safegate, a US-based provider in airfield, gate, airport systems, and tower solutions provider introduced a unique Safedock X Advanced Visual Docking Guidance System (A-VDGS).
This brings completely automated airport apron management one step closer to reality by combining innovative surveillance technologies, contemporary display capabilities, and superior integration to assure safe docking in all-weather situations.
The new display is a critical component in supporting airport collaborative decision making (A-CDM), assisting in reducing delays and shortening gate rotations because it can provide more information to meet any apron management task.
A transportable operator panel gives ground employees more situational awareness and flexibility, while Safedock X can accommodate independent displays for aircrew and ground crew.
The full report “Airport Construction Global Market Report 2022: Ukraine-Russia War Impact” can be found here.