ReportLinker has announced Airports Council International (ACI) has observed growth of 7.5% in air passenger transport in 2017, to reach 8.3 billion passengers, the company said.
The US and China account for 34.5% of global passenger traffic. North America leads, with domestic passenger traffic taking 35% of global traffic, while Europe has the highest proportion of international traffic with 47%. By 2040, emerging economies are expected to account for 60.2% of passenger traffic, at 12.6 billion, against the 39.8% of advanced economies at 8.3 billion.
The need to expand and redevelop existing airports in Europe is driving growth in the region.Asia-Pacific is projected to lead growth globally, due to fast-growing emerging markets such as India and Vietnam.
Rising numbers in the affluent middle class in developing countries in Asia-Pacific and the Middle East and Africa (MEA) are driving demand for air travel, while increased competition among low-cost airlines is increasing the number of flights worldwide. The top ten countries for air passenger growth in 2017-2040 are all emerging and developing economies led by Vietnam and India.
In terms of the project pipeline value, Asia-Pacific accounts for the highest share with USD 332.4 billion. The Middle East and Africa is in second place, with projects valuing USD 222.2 billion. Europe has projects valued at USD 151.2 billion, while the Americas has a project pipeline of USD 150.5 billion, trailing the other regions.
The report Project Insight: Global Airport Construction Projects, provides detailed metrics on global and the regions´ airport construction projects split by country, stage and value.
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