Market Research Report
Project Insight - Airport Construction Projects: Middle East and Africa
|Published by||GlobalData||Product code||503218|
|Published||Content info||26 Pages
Delivery time: 1-2 business days
|Project Insight - Airport Construction Projects: Middle East and Africa|
|Published: June 28, 2019||Content info: 26 Pages||
GlobalData's Construction Intelligence Center (CIC) is currently tracking airport related construction projects in the Middle East and Africa with a total value of US$222.3 billion. Of this, US$95.7 billion is in the pre-execution stage and US$92.8 billion is in the execution stage. Saudi Arabia, leads with projects valued at US$58.6 billion, followed by the UAE with a project value of US$57.9 billion. In order of the projects' values, the top ten countries are Saudi Arabia, the UAE, Qatar, Bahrain, Kuwait, Angola, Iraq, Iran, Ethiopia and Kenya. The highest value project tracked by the CIC in the region is the US$36.0 billion Al Maktoum International Airport in the UAE, followed by the US$29.2 billion King Abdulaziz International Airport in Saudi Arabia.
The Middle East and Africa (MEA) region combines countries with affluent economies, and many small but fast-growing emerging markets. The trend of rising populations and incomes throughout the region is driving demand for air travel. In the countries of the Gulf Cooperation Council (GCC), there are particularly high levels of investment in upgrades to airport facilities. The largest and busiest airport in the Middle East is in Dubai, in the United Arab Emirates (UAE), with total passenger traffic reaching 88.2 million in 2017, edging closer to the world's number one airport in Atlanta, Georgia with 103.9 million. Dubai is also the busiest global airport for international traffic ahead of London's Heathrow. The Airports Council International (ACI) forecasts that the Middle East's air passenger traffic will grow by 12.7% in the period of 2017-2040. Both the UAE and Saudi Arabia are in the top ten list for passenger growth in the period of 2017-2040, with 6.2% and 5.7% respectively, behind Vietnam and India. The regional contribution to international passenger growth for Africa during 2017-2040 is the lowest of all the global regions, at 2.6%, hampered by low investment, mismanagement and poor safety records.