Trade Arabia
Saudi Arabia is undertaking a massive airport expansion and upgrade programme to serve 330 million travellers by 2030 through $147 billion investments that will support $82.3 billion of GDP by 2037, said organisers of the upcoming Future Airport Development and Investment Summit in Riyadh.
Airport developments in Saudi Arabia, the region’s largest aviation market projected to have the fastest passenger traffic growth until 2040, they added.
According to GlobalData, the total pipeline of new airport construction projects had a combined value of $1.64 trillion while the global fleet of aircraft is projected to touch 36,500 aircraft by 2031 and the global airport construction market size has been revised to $1.4 trillion by 2026.
King Abdulaziz International Airport is being expanded and tops the list of the world’s 50 biggest airport construction projects by value. It is among the top five projects that together account for a combined value of $126.7 billion. Jeddah airport had the highest number of international and domestic flights in 2019, operating almost 242,000 flights. Phase 2 of the airport’s expansion will increase the capacity to accommodate 43 million passengers a year and 80 million passengers by 2035.
