North America Aviation Infrastructure Market

North America Aviation Infrastructure Market Overview:

The North America Aviation Infrastructure Market was worth US$ xx million in 2021, and it is estimated to reach a valuation of US$ xx million by the end of 2026, expanding at a healthy growth rate.

The airport infrastructure is an indicator of the country's economic prosperity. The airport connects people and the world economy. Adequate airport and land infrastructure are critical for financial development. It is necessary to develop aviation infrastructure so as not to impede the growth of the overall aviation market in any area, especially the busiest regions like North America.

Recent Developments 

1. In January 2016, construction of a new terminal will begin at the Louis Armstrong International Airport in New Orleans, which will be open to the public before the end of 2019.
2. June 2018: The British government approved a plan to build a third runway at Heathrow International Airport. The new third runway will help improve Heathrow's ability to perform airport operations.
3. April 2018: Sharjah airport officials finalized plans to build a new terminal at the airport. Also, the construction of a new airport terminal will help Sharjah International Airport increase its capacity to 25 million passengers in the near future.

Market Drivers

The North America Aviation Infrastructure plays a vital role in supporting economic development and long-term economic growth in all countries. Federal Aviation Administration (FAA) financing to improve airport infrastructure is also supporting the market growth.

This sector offers economic benefits by providing direct benefits to users and positively affecting the economy and productivity. Therefore, taking advantage of the flight infrastructure is essential to maintain the role of the aviation sector in the marketplace. In addition, the increase in existing airport expansion plans and the growing demand for smart airport construction are some of the key factors that support the growth of the North American Aviation Infrastructure market during the forecast period. As the number of air travellers, as well as airplanes, has increased dramatically, aircraft operators are under tremendous pressure when it comes to establishing control and handling of passengers. This primary factor led to the selection of a new plan that would help build the appropriate North America Aviation Infrastructure at present and in future. 

A good aviation infrastructure will help to achieve the perfect balance between the airport, the plane and air traffic control. This is another reason to require most aircraft operators to build a modern and technically advanced aviation infrastructure. However, with the participation of the national government, the negative factors can be avoided very comfortably. Therefore, taking into account all the positive and negative aspects, the North America Aviation Infrastructure market is expected to grow slowly during the forecast period. 

Restraints

Nevertheless, some factors can hinder the growth of the North America Aviation Infrastructure market. A few of those are the costs of technological changes and advances, the existing infrastructure and the new infrastructure. The rapid growth in terms of the number of passengers has caused some airports to face extreme problems with passenger handling.

Market Segmentation

The global North America Aviation Infrastructure is segmented by type, application and region.

Depending on the type of airport, the North America aviation infrastructure market is separated as Brownfield and Greenfield airports.

Depending on the application, the North America aviation infrastructure market is divided into hangars, maintenance, repair and overhaul facilities (MRO), airport terminals, warehouses and airstrips. New airports are expected to be the most dominant part of the regional aviation infrastructure market and maintain this preference for the anticipated period as demand for international airports increases.

Regional Analysis

North America aviation infrastructure market dominated the global business in 2019, recording the highest CAGR during the forecast period. It is also foreseen to expand with a considerable growth rate in the anticipated period. The United States had a dominant share in the North American aviation infrastructure market in 2019. In particular, with respect to airports, the US aviation infrastructure will see significant growth in the coming years due to the growing demand of passengers. This situation is pressing officials to build new airports or modernize them. With the rise of air travel in the US, the construction of several airports, hangars, terminals and airstrips has increased, but North America is expected to lose some share in terms of market portion due to increasing growth of the aviation sector in the Asia Pacific region.

Leading Company

The DFW airport operator announced plans to build a new terminal that will be the sixth airport terminal. The construction of the new terminal is expected to be completed by 2026, with a cost of more than $ 3 billion.

Key Players

The main players operating in the North America Aviation Infrastructure include Turner Construction Company, Hensel Phelps Construction Co, Austin Industries (Austin Commercial), Skanska AB, Aecom, Crisdel Group, Manhattan Construction Group Inc, Vecellio and Grogan, Inc., Clark Construction Group and VRH deployment