CIC - Construction Intelligence Center

High levels of investment in airport construction projects in the US and China

11 May 2017

According to the new report from Timetric’s Construction Intelligence Center (CIC), the total value of the global airport construction projects pipeline stands at US$721.7 billion, with the US and China accounting for the largest shares, with project pipelines valued at US$90.4 billion and US$76.7 billion, respectively.

 

Based on the projects tracked by the CIC, Asia-Pacific has the highest value pipeline, at US$291.2 billion, followed by the Middle East and Africa (MEA) with US$163.5 billion. Funding of projects is weighted towards public investment, which accounts for 62% of the global projects pipeline, followed by projects funded by joint public-private initiatives (28%) and solely privately funded projects (10%). Regional variations shows that the MEA region has the highest value of publicly funded projects, at 77%, which reflects the centralized government and large budgets, particularly in the Gulf Cooperation Council (GCC) countries. Asia-Pacific has the highest proportion of privately funded projects, at 13%. 

 

Airport Construction Projects Pipeline (US$ million)

 

 

The US is undertaking a program of redevelopment of existing airports, including the busiest airport in the world, the Hartsfield-Jackson International Airport in Atlanta, which is being expanded. Europe accounts for the highest value project tracked by CIC, the US$36 billion Istanbul New Airport, which is in execution and will have a capacity to handle 150 million passengers a year. The Heathrow Third Runway and sixth terminal expansion project has been approved by the UK Government after much delay and examination and the plans are under consultation.The top 10 countries for investment in airport projects, as tracked by CIC, are the US, China, the UAE, Philippines, Turkey, The UK, Russia, Qatar, Vietnam and Hong Kong. Much of the new airport development is in the developing countries, including Vietnam, which is investing in new airport facilities, and Mexico, which is building the New Mexico City International Airport as a replacement for the existing airport. China is also investing in new airport facilities with the highest project tracked being the US$11.7 billion Chengdu New Airport Development in Sichuan. 

 

Neil Martin, Manager at Timetric’s CIC comments: “The mature economies of Europe and North America are investing heavily in the redevelopment and expansion of existing airports. The developing countries are building new airports, particularly in Asia-Pacific and the Middle East and Africa. Asia-Pacific is expected to increase its share of global passenger traffic in the period 2015 - 2029 from 34% to 47% according to industry sources. Dubai International in the UAE is already the busiest airport in the world for international passenger traffic with 83 million passengers in 2016 exceeding Heathrow, London.”  
 

 

About this report

 

This information is taken from the Timetric report: ‘Project Insight - Airport Generation Construction Projects: Global'.

 

To find out more information about the report, please contact us at reports@timetric.com. To purchase the full report, click here

 

CIC clients can access the report here

 

About the Construction Intelligence Center

 

The Construction Intelligence Center (CIC) is the most comprehensive source of data and analysis on the global construction industry. The Construction Intelligence Center is a product of Timetric, which provides information solutions and technologies that enable organizations to drive business value and manage business risk.

 

For more information and updates, please visit www.construction-ic.com.

 

About Timetric

 

Timetric is a leading provider of online data, analysis and advisory services on key industry sectors. It provides integrated information services covering risk assessments, forecasts, industry analysis, market intelligence, news and commentary.

 

For more information and updates, please visit www.timetric.com.

 

For media enquiries, please contact the Timetric press office or call +44 (0)20 3096 5769.