Report : North America Airport Infrastructure Market Forecast to 2030 - By Regional Analysis - Airport Type (Commercial Airport, Military Airport, and General Aviation Airport) and Infrastructure Type ( Terminal, Control Tower, Taxiway and Runway, Hangar, and Others)
At 5.9% CAGR, North America Airport Infrastructure Market is Projected to be worth US$ 33,273.77 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the North America airport infrastructure market was valued at US$ 21,001.16 million in 2022 and is expected to reach US$ 33,273.77 million by 2030, registering a CAGR of 5.9% from 2022 to 2030. Rising initiatives to upgrade military airbases for use of commercial aviation and rising investments in new military air bases are among the critical factors attributed to the North America airport infrastructure market expansion.
Governments of several countries have been taking initiatives to allow their respective military airports for commercial aircraft landings and operations to provide better convenience for managing rising passenger traffic across different regions until new commercial airports are operational. A few other initiatives include upgrading selective military airports to hybrid airports. For instance, several military airports in the US such as AF Plant 42, Palmdale, CA; Barter Island LRRS, Barter Island; AK Charleston AFB, Charleston, SC; Dover AFB, Dover, DE; Eglin AFB, Valparaiso, FL; Grissom AFB, Peru, IN; and Kelly/Lackland AFB, TX allow joint-use of these existing military airports when a civil sponsor wants to use the military airfield for its landing or takeoff operations. Thus, rising initiatives to upgrade military airbases for the use of commercial aviation are anticipated to fuel the growth of the airport infrastructure market during the forecast period.
On the flipside, rising integration of smart airport technologies is reducing the number of new construction of airports.
Based on airport type, the North America airport infrastructure market is categorized into commercial airport, military airport, and general aviation airport. The commercial airport segment held 47.9% market share in 2022, amassing US$ 10,068.37 million. It is projected to garner US$ 16,081.02 million by 2030 to expand at 6.0% CAGR during 2022-2030.
Based on infrastructure type, the North America airport infrastructure market is segmented into terminal, control tower, taxiway and runway, hangar, and others. The terminal segment held 43.9% share of North America airport infrastructure market in 2022, amassing US$ 9,228.33 million. It is projected to garner US$ 14,746.50 million by 2030 to expand at 6.0% CAGR during 2022-2030.
Based on country, the North America airport infrastructure market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 78.2% share of North America airport infrastructure market in 2022. It was assessed at US$ 16,425.01 million in 2022 and is likely to hit US$ 26,459.30 million by 2030, exhibiting a CAGR of 6.1% during 2022-2030.
Key players operating in the North America airport infrastructure market are Hensel Phelps Construction, AECOM, Skanska AB, Turner Construction company, Austin Industries Inc, PCL Constructors Inc, Hill International Inc, and The Sundt Companies Inc, among others.
- In September 2023, Hensel Phelps was appointed as the Construction Manager at Risk (CMaR) for the New Terminal Project at John Glenn Columbus International Airport by the Columbus Regional Airport Authority (CRAA). For the project, preconstruction and construction services will be supplied by the Hensel Phelps | Elford team. With this project, Hensel Phelps enters the Ohio market and strengthens its partnership with CRAA and Elford.
- In March 2022, AECOM announced that its joint venture with H.J. Russell & Company, Airfield Management Partners, had been selected to provide civil airside program and construction management services at Dallas Fort Worth International Airport.
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