Data analytics and consulting firm Global Data indicates that globally, airport construction projects are valued at $737.3bn, of which $212bn is in the planning phase. Asia-Pacific accounts for the highest value with $241.4bn, followed by MENA with projects valued at $196.4bn, the UAE's state news agency, Wam, reported.
The International Air Transport Association (IATA) has forecast that approximately $1.2 to $1.5 trillion is expected to be spent on global airport infrastructure development up to 2030.
Speaking about the importance of airports infrastructure across economies, director-general of Dubai Civil Aviation Authority and CEO of Dubai Air Navigation Services, Mohammed Abdulla Ahli said as the aviation industry becomes increasingly advanced, airports are becoming the primary infrastructure requirement integral to the growth of all economies.
It is a continuous exercise – in the Middle East and the Arabian Gulf, especially in UAE – to improve airports’ capacity and equip them with latest technologies to facilitate passengers’ journeys, he stated.
Key decision-makers of airports will be meeting at the 20th edition of the Airport Show at the Dubai World Trade Centre in June 2020 to highlight the latest aviation technologies from around the world.
Commenting on the growing need for increased investment in airports infrastructure, group exhibition director of Reed Exhibitions Middle East, which organises the Airport Show, Daniyal Qureshi, said: "Considering strong growth in air traffic, many airports are near, at, or even exceeding their design capacities, causing congestion, lower levels of service and frustrated passengers. Existing airport infrastructure cannot handle the expected growth.”
“The G20’s Global Infrastructure Outlook, which is developed by the Global Infrastructure Hub with Oxford Economics, and which forecasts infrastructure investment requirements across 50 countries and seven sectors until 2040, estimated that the airport investment plans of 50 countries alone totalled $355bn from 2018 to 2022, but their actual investment needs were more than $433 billion.
He added: "For expanding airports such as the one we have in the Middle East, traffic growth poses both an opportunity and a challenge.”