DUBAI: As the civil aviation industry rebounds from the sharpest decline in passenger numbers caused by the second pandemic of the 21st century, airports worldwide are preparing for a significant surge in air travel until 2030 through expansions and redevelopment initiatives.
With the Middle East Aviation Market valued at US$60 billion in 2023, substantial growth is predicted to until 2030. In 2022, air connectivity in the Middle East witnessed a remarkable 26 percent-plus growth compared to 2019.
Projections indicate that airports in the Middle East are poised to accommodate 1.1 billion passengers by 2040, more than double the 2019 figure of 405 million passengers. To meet this demand, the region will need to invest approximately $151 billion in capacity expansion. With over 110 airports, the Middle East stands as one of the fastest-growing aviation markets globally.
In mid-May 2024, airport developers, officials, and suppliers from around the world will convene in Dubai for the world’s largest annual event dedicated to the airport industry. The 23rd edition of the three-day B2B event at the Dubai World Trade Centre (DWTC) will feature more than 150 exhibitors from over 20 countries and expect to welcome 7,500 visitors from more than 30 countries. The Airport Show will host co-located events including the ATC Forum, Airport Security Middle East, and the 11th edition of the Global Airport Leaders Forum (GALF).
According to a CAPA report, there are currently 425 major construction projects underway at existing airports worldwide, with $450 billion in investments. Of these projects, 225 are new airport developments, with over 70 percent of investments concentrated in the Asia Pacific region. Additionally, there are 1,074 airport investors, including 258 airport operators, groups, or consortiums. Approximately 68 percent of all projects are focused on terminal expansions or new developments.
A recent report revealed that the global airport construction market grew to $1.14 trillion in 2023 and would reach $1.8 trillion by 2030.
Meanwhile, Dubai International Airport, recognized as the world’s busiest airport for international travelers for nine consecutive years, is enhancing its capacity and facilities to maintain its status as a prominent hub. Presently serving 250 destinations in 104 countries through 95 airlines, DXB has ambitious expansion plans requiring investments of up to $2.7 billion. These enhancements are necessary as its home base carriers have ordered an additional 120 aircraft – 90 Boeing-777s for Emirates and 30 Boeing-787s for flydubai.
