The global demand for modern airports and their expansion is what is driving the market for airport design. During the forecast period, the Asia Pacific is expected to experience the fastest growth. The increasing number of passengers flying is one of the main factors driving the airport design market. By 2036, 7.8 billion people are expected to travel by air, according to the International Air Transport Association (IATA). The demand for more airport capacity as a result of the rise in air passenger traffic is a key factor in the expansion of the airport design industry. IATA also predicts that Asia Pacific will see the fastest growth in air passenger traffic, with 4.6 billion passengers by 2036, making it the region with the highest growth rates globally.
The global need for new airports and the modernization of existing airports are expected to drive the airport design market's growth at a rapid rate during the forecast period. Due to the significant economic growth in nations like China, India, and Japan, which has led to an increase in air travel in these countries, the Asia Pacific area is predicted to have the fastest-growing market for airport design. The expansion of the aviation industry in this region is also being fueled by rising disposable incomes and an expanding middle-class citizenry.
Planning and building an airport to accommodate both the needs of the airlines and the travellers is known as airport design. The terminal, apron, runway, and taxiways are all part of the airport design. The design of the baggage handling system, air traffic control tower and other airport infrastructure are also included. Additionally, it considers the airport's ecological effects.
A CAGR of 7.92% is predicted between 2021 and 2031 for the airport design market, which is expected to increase from USD 9.01 billion in 2021 to USD 16.06 billion by that year.
The global upgrading of existing airports and the rising need for new airports are what is driving the industry. During the forecast period, the Asia Pacific is expected to experience the fastest growth.
Airport design market expansion is being constrained by the high cost of airport development and renovation. The costs involved in building a new airport or expanding or renovating an existing airport are fairly significant. Therefore, throughout the anticipated period, the slower economic growth rate in some regions is predicted to restrain the expansion of the airport design market. The marketplace, nevertheless, is anticipated to expand significantly in the upcoming years due to the rising demand for airport expansion and building projects in advanced economies.
The leading companies involved in the airport design market are CYPAN FORMATION (France), ADPi LLC (US), Fentress Architects Inc. (US), Bechtel Corporation (US), ACS Group (Spain), AECOM (US), DaVinci GmbH & Co.KG Airport Infrastructure (Germany), Dorsch Holding GmbH (Germany), HF&E International Limited (UK), and EDGE Design + build ltd (UK). These market participants have strengthened their positions in the airport design market by implementing a variety of growth tactics, including new product releases, expansions, mergers & acquisitions, partnering, contracts, joint ventures, and alliances.
The Airport Interior Design Type to Emerge as the Most Lucrative Segment
According to type, the airport interior design market is anticipated to expand at a faster CAGR than other markets over the coming years. The trend of using biophilic design principles in airport interior design as well as the growing emphasis on improving the passenger experience at airports can be credited with the segment's growth.
The Most Popular Application Segment is New Airport Construction
During the projected period, the application sector for new airport construction is anticipated to increase at the greatest CAGR. The global expansion of greenfield airport projects as well as the modernization and extension of existing airports are both responsible for the segment's growth. Further, the growing emphasis on improving the passenger experience is fueling the expansion of this market.
The Asia Pacific region renders Ample Financing Opportunities
The highest CAGR is anticipated for the Asia-Pacific area over the course of the forecast. The boom in this area can be ascribed to the growing number of airport construction projects in countries like China and India, as well as the renovation and extension of regional airports and indeed the existence of multiple low-cost airlines in the area.
COVID-19 Impact and Market Status
The world's aviation industry has been badly disrupted by the novel coronavirus (COVID-19) epidemic. The demand for air travel has dramatically decreased, and there have been cancellations of flights and routes, aircraft groundings, and airport closures. Globally, fewer new airport projects are now being announced or put out to bid as a result of this. However, the airport design market is anticipated to revive soon with the gradual relaxation of shutdown restrictions and the restart of domestic and international flights.
Recent Developments in the Airport Design Market
• Buildings, infrastructure and advanced facilities (BIAF) business in Europe was acquired by ACS Group in January 2021 from Jacobs Engineering Group. By extending its customer base and product offering, the acquisition will assist the business in strengthening its position in the airport design sector.
• AECOM purchased KBRs supported by the government division in September 2022. The company's operations in the aviation industry will be able to grow thanks to the acquisition, which will also help it solidify its position in the airport design industry.
• For Terminal 2 at Denver International Airport in Colorado, US, Bechtel Corporation announced in August 2021 that it had been given a contract by VINCI Airports to provide architectural, procuring, and contract administration services. The project is anticipated to be finished in 2023.
Airport Design Market Scope
|Revenue forecast in 2031
|USD 16.06 billion
|CAGR of 7.90% during 2021-2031
|Type, Application, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Faurecia SA, Adient plc, Toyota Boshoku Corporation, Magna International Inc., Lear Corporation, Johnson Controls International plc, Grupo Antolin, Recaro Holding GmbH & Co. KG, TS Tech Co. Ltd., and NHK Spring Co. Ltd.
Key Segment of Global Airport Design Market
By Type Overview (USD Billion)
• Airport Interior Design
• Airport Exterior Design
By Application Overview (USD Billion)
• New Airport Construction
• Renovation and Expansion of the Airport
By Region Overview (USD Billion)
• Rest of Asia Pacific
• Rest of North America
• Rest of Europe
Middle East and Africa