Air transport plays a key role in the economic development as well as trade and commerce of a country. A well-built airport infrastructure is a symbol of a country’s social progress. From creating jobs to improving tourism to facilitating imports and exports, airports offer numerous economic benefits. GCC countries are well-known worldwide for the infrastructural achievements of these countries.
The oil-rich countries, in their efforts toward economic diversification, are investing heavily in transport infrastructure: roads, railroads, and airports. Being positioned between the major economies of the East and the West, the geographic locations of GCC countries have made them an international aviation hub. In addition, the international events such as World Expo 2020 in Dubai, Qatar National Vision 2030, and the FIFA World Cup 2022 in Qatar, considered as brand-building events by the respective nations, have necessitated massive airport construction activity in these countries. With a few GCC countries trying to meet the existing gap in aviation infrastructure and the others trying to build-up supply ahead of the rapidly growing demand, these countries are witnessing remarkable levels of airport construction activity.
Analysts forecast the Airport Construction market in the GCC Countries to grow at a CAGR of 7.86 percent over the period 2014-2019.
The report recognizes the following companies as the key players in the Airport Construction Market in GCC Countries: ALEC Ltd., BESIX Group, Murray and Roberts Holdings Ltd., Saudi Binladin Group and TAV Construction.
Other Prominent Vendors in the market are: Al Habtoor Engineering, Hyundai Engineering and Construction Company and China State Construction and Engineering Corporation.
The Brownfield Airport projects act as catalysts for the growth of the industry. With increasing congestion in the region, demand for expanding airport networks has risen. The number of passengers traveling to and from the GCC countries has been increasing for several years. GCC governments have therefore shifted focus to the development of infrastructure projects, mainly transportation, to accommodate growing demand.
This report covers the present scenario and the growth prospects of the Airport Construction market in the GCC Countries for the period 2015-2019. To calculate the market size, the report considers the investment in airport construction in the five GCC countries. The GCC countries covered in the report are Kuwait, KSA, Oman, Qatar, and the UAE. It does not consider Bahrain. The market sizing has been done based on the historical investment made in airport construction and the percentage contribution of the Construction industry to the GDP of these countries.
Airport Construction Market in the GCC Countries 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the landscape of the Airport Construction market in the GCC Countries and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.