Published on : Jun 01, 2017
Albany, New York, June 01, 2017: The report it titled “Project Insight - Airport Construction Projects: Global,” and is available in the company website for sale. It provides a detailed metric on airport construction projects classified in terms of country, value, and type.
The rising air traffic is the chief factor boosting airport construction around the world. Over the last few years, the construction of smart airports has gained pace as well because the technology offers advanced solutions to streamline processes, thus making travel more comfortable for air passengers. Furthermore, as airports get keener on integrating technologies to ensure pre-solutions to potential crisis, the demand for airport construction will rise.
The convenience offered by air travel is a key factor boosting air traffic, which in turn has created opportunities for airport construction projects. Furthermore, emerging technologies. Service agreements between countries, airline network improvement, and liberalized domestic market regulation, and improvements in business model have resulted in the rising air traffic, which in turn will boost airport construction projects worldwide.
A prevailing trend winning much traction for airport construction market is the adoption of robotics and artificial intelligence across smart airports. The aviation industry within the travel sector will witness rising use of artificial intelligence to assist passengers through airports in the coming years. Deployment of humanoid robots is on card as well, which could be a key game changer in the aviation sector, as these robots would recognize emotions and actively respond to even unexpected situations.
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According to the report, airport construction projects worldwide is valued at US$721.7 bn. Among the key regional segments, Asia Pacific has emerged dominant, exhibiting the highest-value project pipeline, valued at US$291.2 bn, which is equivalent to nearly 40% of the global valuation of airport construction projects. The Middle East and Africa is at the second position with pipeline projects valued at nearly US$163.5 bn. As per the report, the projected pipeline in the Americas is valued at US$135.9 bn, while Europe’s valuation stands at US$131.0 bn.
The global airport construction market has a considerable number of companies. Vendors around the world are gearing to accommodate smart technologies to capitalize on the rising demand for smart airport construction. This will in turn make the competition prevailing in the market even fiercer. Furthermore, it is important for the vendors in the airport construction market to evolve their technologies in order to improve productivity and save cost in the coming years and continue gaining traction.
To study the competition prevailing in the global airport construction market, the report therefore profiles some of the leading players operating therein. Among the key players, CH2M, AECOM, TAV Construction, Bechtel, and Fluor have emerged as the prominent vendors. Other established players operating in the market include Honeywell, Cisco, IBM, SITA, and Siemens. These companies are studied on the basis of their product portfolio, financial overview, strategies adopted in the last few years, and the impact of same on the airport construction projects undertaken around the world.
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