open PR
The airport construction market size has grown steadily in recent years. It will grow from $1190.24 billion in 2023 to $1214.67 billion in 2024 at a compound annual growth rate (CAGR) of 2.1%. The growth in the historic period can be attributed to globalization and increased travel, air traffic growth, modernization and upgrading, government investments, security upgrades, tourism industry growth.
The airport construction market size is expected to see steady growth in the next few years. It will grow to $1351.85 billion in 2028 at a compound annual growth rate (CAGR) of 2.7%. The growth in the forecast period can be attributed to emerging markets expansion, environmental considerations, infrastructure resilience, urban air mobility, capacity expansion. Major trends in the forecast period include remote and regional connectivity, technological integration for smart airports, upgrades in air traffic management systems, modular construction techniques, public-private partnerships (PPPs) for funding.
