Transportation terminal projects worldwide recently posted a 61% year-over-year increase, according to ConstructConnect’s Construction Industry Snapshot — and the growth in terminals, runways and infrastructure construction shows no signs of slowing.
“All the major airports have huge expansion programs in the works, which certainly will be a source of major construction going forward,” Alex Carrick, ConstructConnect’s chief economist, told Construction Dive.
The U.S. alone could see up to $70 billion spent on more than 50 airport construction projects in the next three years, driven by the need to modernize aging facilities as well as renovate to accommodate technological advances.
Airports around the world are experiencing major renovation and expansion initiatives as well. A recent GlobalData report valued global airport construction projects at $737.3 billion, with the Asia-Pacific region accounting for $241.4 billion of that figure.