The increase in expansion plans for existing airports as well as the growing demand in terms of construction of smart airports is some of the factors, which are driving the global aviation infrastructure market.
August 6 2018: The aviation infrastructure market is expected to register a CAGR of over 7% by 2023, as per a new report published by Mordor Intelligence, LLP. The market is expected to grow mainly due to the increase in expansion plans for existing airports as well as the growing demand in terms of construction of smart airports, which in turn is driving the demand for aviation infrastructure globally.
The booming aviation sector as well as the rise in the number of air travelers, in the present scenario, have led to various airport operators coming up with newer expansion plans and strategies in order to accommodate the growing number of passengers. Furthermore, in the present scenario, the airport operators are facing immense challenges related to airport expansion. The significant increase in the number of air travelers in the present scenario has led to airport operators seeking out various unused land in order to construct newer airports, in order to meet the rising number of air travelers. Moreover, the growing aviation industry has led to the development of various advanced technologies, in order to provide the necessary support for the smooth functioning of the airport. Various new construction plans, such as smart airports have been witnessed in the present scenario. Moreover, various technologies, such as beacon technology, facial recognition systems as well as air traffic management soft wares have helped in maintaining smooth operations at the airport.
As per the aviation infrastructure market published by Mordor Intelligence, LLP, the aviation infrastructure market has been segmented and analyzed on the basis of airport type into brownfield and greenfield airport. The airport type is expected to register a higher growth during 2018-2023, mainly due to the booming aviation industry, the rising number of air travelers as well as the growing need of airport upgrade and modernization.
The North American region is expected to witness significant growth rate owing to the rapid execution being carried out in terms of airport modernization and expansion. As per the report, the regions, such as Asia-Pacific and North America are investing heavily in terms of the airport up gradation in order to accommodate the rising number of air travelers at the airport. For instance, in 2018, South West Florida International Airport may witness significant changes in terms of expansion and up gradation of the airport. The airport may receive an upgrade amounting to USD 150 million. This upgrade may enable the airport to eliminate three security checkpoints at each concourse and may lead to only a centralized security checking.
To know more about the coverage of the Aviation Infrastructure Market report, click the below link:
Key Insights from the Report:
Mordor Intelligence, LLP has segmented the aviation infrastructure market based on by airport type, by application, and regional coverage.
Aviation Infrastructure Market by Airport Type
Aviation Infrastructure Market by Application
Aviation Infrastructure Market by Region
Middle East & Africa
About Mordor Intelligence, LLP
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