Market Research Report
Project Insight - Airport Construction Projects: Europe
|Published by||GlobalData||Product code||503216|
|Published||Content info||26 Pages
Delivery time: 1-2 business days
|Project Insight - Airport Construction Projects: Europe|
|Published: June 28, 2019||Content info: 26 Pages||
GlobalData's Construction Intelligence Center (CIC) is currently tracking airport construction projects in Europe with a total value of US$151.2 billion. Of this, US$69.5 billion is in the execution stage and US$57.1 billion is in the planning stage. Turkey accounts for the highest value with US$39.8 billion, followed by the UK with projects valuing US$23.5 billion. Poland and Germany follow with airport construction projects with values of US$19.1 billion and US$11.6 billion respectively. The highest value project in Europe is the US$36.4 billion Istanbul New Airport, which is 40km away from the center of Istanbul.
Europe is a mature market for air transport, with slow growth and activity based on upgrading or expanding existing airport facilities. The Airport Council International Europe (ACI-Europe) registered passenger traffic of 2.6 billon through Europe's airports in 2017, and it is forecast that that there will be a 53% growth in flight movements up to 2040. The top five European airports in 2018 by passenger traffic were London (LHR) with 80.1 million, Paris (CDG) with 72.2 million, Amsterdam (AMS) with 71.0 million, Frankfurt (FRA) with 69.5 million and Istanbul (IST) with 68.2 million. London has the second highest international passenger traffic after Dubai International Airport.
The forecast for growth in flight movements of 53% up to 2040 will result in 16.2 million flights that year, which is 1.9% average annual growth per year over the 2017-2040 period - a slower growth rate than before 2008, when the economic crisis began.