The Market
US$150b Emerging Markets Airport projects takes off aiming to become a major global aviation hub, the respective states have allocated an estimated US$150b for airport development over the next few years to cater the growing passenger & cargo traffic.
Among these projects, Middle East airports account for a huge chunk of the funds reserved for the development of airports and military air bases in addition to the new ones.
The allocated investment for the development of Dubai World Central - Al Maktoum International alone, for instance is about US$ 10b and the total investment for King Abdul Aziz International Airport, Jeddah and for Abu Dhabi International Airport midfield is expected to touch US$ 15b. Dubai International Airport Concourse 3, meanwhile is expected to attract nearly US$ 1.7b in investments.
Ongoing and New Airport Projects
Other airport developments in the region include Qatar's New Doha International Airport drawing a major investment of around US$11b, expansion of Muscat International Airport estimated at US$1.2b, US$2.1b project in Kuwait International Airport, US$335m in Bahrain Airport. Iraq has earmarked US$50b in new airports & expansion.
Aircraft orders to drive growth
The growth in airport infrastructure is being backed by the large number of aircraft orders the emerging markets carriers have at present. According to the latest forecasts by the International Air Transport Association (IATA) for 2011, Middle East airlines are expected to achieve the fastest growth rate of 9.4 per cent. The region's international freight demand is also expected to grow 8.1 per cent during the year as freight links to and via the region continue to develop, with the UAE leading the region.
Overall, airport development gives airlines more choice and by extension, customers more choice. That in and of itself leans towards added incentives to fly into less congested regions and exploit the growth potential – the precise reason why these airports have been designed and built."
Market Potential (New & Ongoing Airport Projects in the Emerging Markets)
|
Al Maktoum Interantional Airport |
US$10b |
|
Bandaranaike International - Sri Lanka |
US$ 500m |
|
Abu Dhabi International Airport |
US$6.8b |
|
Chennai International - India |
US$ 900m |
|
Dubai International (Concourse 3) |
US$1.17b |
|
Chhatrapati Shivaji International -India |
US$ 1.2b |
|
Qatar New Dohal International |
US$ 11b |
|
Diosdado Macapagal International - Philippines |
US$ 1.7b |
|
King Abdul Aziz International - Jeddah |
US$ 7b |
|
Domodedovo International - Russia |
US$ 600m |
|
Muscat International |
US$ 1.2b |
|
Nagpur Airport Cities |
US$ 7b |
|
Kuwait International |
US$ 2.1b |
|
Guilin Liangjiang International - China |
US$ 125m |
|
Bahrain International |
US$ 335m |
|
Jomo Kenyata Airport - Kenya |
US$ 1b |
|
King Fahad Interantional - Dammam |
US$ 2b |
|
Multan International - Pakistan |
US$ 400m |
|
Baghdad Interantional - Iraq |
US$ 6b |
|
Netaji Subhash Chandra Bose (Kolkata) - India |
US$ 1.2b |
|
Queen Alia International - Jordan |
US$ 750m |
|
Ngurah Rai International - Indonesia |
US$ 180m |
|
Nnamdi Azikiwe International - Nigeria |
US$ 420m |
|
Phuket International - Thailand |
US$ 182m |
|
Bole International Airport - Ethiopia |
US$ 27m |
|
Taiwan Taoyuan International Airport - Taiwan |
US$ 57m |
|
Ankara Esenboğa International - Turkey |
US$ 250m |
|
Vladivostok International Airport - Russia |
US$ 316m |
|
