Airport Construction Global Market Report 2023
Major players in the airport construction market are Austin Industries Inc., Bechtel Corporation, Fluor Corporation, Hensel Phelps Construction Company, Hill International Inc., GMR Group, Jacobs Engineering Group, L&T Construction, McCarthy Holdings Inc.
New York, March 27, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Airport Construction Global Market Report 2023" - https://www.reportlinker.com/p06433614/?utm_source=GNW
, PCL Constructors Inc., Skanska USA Inc., Amadeus It Group, Balfour Beatty, Gilbane Building Company, Crossland Construction, and GVK Industries Limited d/b/a.
The global airport construction market grew from $1,149.19 billion in 2022 to $1,148.96 billion in 2023 at a compound annual growth rate (CAGR) of 0.0%. 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The airport construction market is expected to decline to $1,092.47 billion in 2027 at a CAGR of -1.3%.
The airport construction market includes revenues earned by entities through initiatives for the different structures, infrastructure, and facilities at the airport to be built, rebuilt, expanded, relocated, maintained, and repaired.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
The airport construction is a methodical process used to create standards for an airport’s efficient development that is in line with municipal, state, and federal objectives. Assuring the efficient use of airport resources to meet aviation demand in a financially viable manner is a primary goal of airport planning.
Asia-Pacific was the largest region in the airport construction market in 2022.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 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 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 report by International Civil Aviation Organization, a US-based agency that coordinates international air navigation, in May 2022, shows that when compared to the same period in 2021, the global number of passengers carried by air climbed by 65% from January to April 2022, while the number of aircraft departures increases by 30%.
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), bringing 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.
In January 2022, Graham construction, a US-based provider of construction services acquired Aecom for an undisclosed amount.This acquisition would assist Graham construction increase the company’s service portfolio and provide stronger access to eastern North American markets.
It would help the company execute a plan to concentrate all their resources on the professional services business, which has a better profit margin and lower risk. Aecom is a US-based infrastructure consulting firm operating on airport construction projects.
The countries covered in the airport construction market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The airport construction market research report is one of a series of new reports that provides airport construction market statistics, including airport construction industry global market size, regional shares, competitors with airport construction market share, detailed airport construction market segments, market trends, and opportunities, and any further data you may need to thrive in the airport construction industry. This airport construction market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06433614/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001
