Global passenger traffic is expected to reach and potentially exceed 20 billion by 2039, according to the Airports Council International (ACI) World data. This projected growth, with a 4.1 percent Compounded Annual Growth Rate (CAGR) globally, has grabbed the attention of airports in nearly every geographic area. How will they modernize infrastructure to keep up with passenger demands and accommodate their needs?
“Catering to the changing needs of passengers will be pivotal to airports’ success in an increasingly globalized and competitive environment,” according to ACI World Director General Angela Gittens.
The first step to staying competitive is investment into current airport infrastructure to keep up with high levels of service that passengers have come to expect of their travel experience.
“Investing in new and improved infrastructure, as well as making the most of existing infrastructure, is the bedrock on which smooth airport operations and improved passenger experience is built,” Gittens continued.
No longer can airports run simply as points of departures and arrivals. Modern airports are complex travel centers that offer a wide range of services. From 5G wireless connectivity to biometric screening and baggage drop solutions, technologies are rapidly evolving to help create a more seamless travel experience for passengers. Yet where is the investment in this infrastructure coming from?
According to Gittens, airport privatization has proven to be an important investment vehicle globally, specifically in Europe, China, and India, to help support the development to infrastructure and accommodate air service demand.
ACI recently produced a policy brief that outlines the importance of private investment in airports. Read more at: https://store.aci.aero/product/policy-brief-creating-fertile-grounds-for-private-investment-in-airports/