A report by CAPA at Airport Show 2018 in Dubai stated that capital expenditure on new airport projects has risen to over $800bn, although construction on existing airports has not significantly improved.
The report, CAPA Global Airport Construction Review 2Q2018, notes that ‘since the last report capital expenditure on airport projects at existing airports has fallen but that on new airports has risen for an overall total of just over $800bn.’
The report states that Asia Pacific is leading the way in projects and investment. Capital expenditure is also high in the US, although on existing airports and not new ones.
It was recently announced that Chicago O’Hare will undergo a dramatic transformation, with Los Angeles and Atlanta also on track for further infrastructure expansion.
The Middle East is the region most lacking in investment as attention is driven towards concentrating on existing airports.
CAPA note that there are 427 new airports currently under construction, a small number of which are cargo airports.
In the Asia Pacific region Hong Kong airport will receive an investment of near $20bn, while the construction of the new Long Thanh Airport in Vietnam is set to cost $16.3bn. New Istanbul Airport and construction at London Heathrow lead the way in capital expenditure in Europe.