Exceptional year for global airport industry in 2024 with forecast revenues of $194.4 bn

Dubai, United Arab Emirates: As infrastructure and operations are reshaped, the global airport industry revenues are set to reach US$194.4 billion in 2024 with about 9.5 billion passengers traveling this year domestically and internationally.

The Airports Council International (ACI) World, in its annual World Airport Traffic Report, forecasts global passenger traffic to increase by 10 percent, reaching 9.5 billion passengers in 2024, based on data from over 2,700 airports across 180 countries.

In 2023, it stood at 8.7 billion, reaching 95 percent of pre-pandemic levels.  By the end of 2024, international passenger traffic will reach 4.1 billion, accounting for 43 percent of total passengers. The domestic passenger traffic is expected to reach 5.4 billion, making up 57 percent of the total.

ACI World further projects that the global airport investment is set to reach US$2,404 billion in 2040 while the Middle East aviation market is due to reach US$33.70 billion size by 2029. Middle Eastern airports are due to spend US$151 billion on the expansion of their capacity and enhancing passenger and cargo facilities.

Technologies and Innovations for fast-rising air traffic

The best and most effective ways for airports to handle the fast-rising air traffic and the effective deployment of the newest technologies and innovations will be under the spotlight at the Airport Show, the 24^th edition of which will be held in 2025 at the Dubai World Trade Centre (DWTC) from May 6 to 8.

Unparalleled networking and business opportunities await the industry stakeholders and professionals with a big number of exhibitors coming from all over the world and four major co-located knowledge-enhancing conferences taking place over three days.

His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, Chairman of Dubai Airports, Chairman and Chief Executive of Emirates Airline and Group, and Patron of Airport Show, remarked: “Airports are vital connectors and economic engines for communities and countries.”

He added that Dubai, a key hub at the crossroads of global travel, is investing US$35 billion in the second phase of development of the Al Maktoum International – Dubai World Central (DWC) to become the world’s largest airport with a capacity of up to 260 million passengers annually, Sheikh Ahmed said airports across the region are also modernizing and expanding to meet growing demand, with a combined project value of over US$1.3 trillion across the Middle East, Africa and South Asia.

He asserted that the Airport Show, organized by RX, continues to be a vital stage for business growth and expansion in the airport industry.

By the mid-2030s, ICAO predicts that over 200,000 flights will take off and land daily all over the world. By 2036, the air transport industry will contribute US$1.5 trillion to global GDP. By 2040, airports in the Middle East will handle 1.1 billion passengers, with the Middle East and Asia-Pacific accounting for 58 percent of global air passenger demand.”

The Airport Show is the Middle East, Africa and South Asia’s leading airport exhibition for 110-odd airport operators and their associates in the Middle East. The 2025 edition is expected to have a total of 160 exhibitors from 20+ countries along with more than 6,000 participants from 30+ countries.

The show will feature four insightful conferences on its sidelines – the Global Airport Leaders Forum (GALF), Airport Security Middle East, the ATC Forum, and Women in Aviation (WIA). The annual multi-events platform is being supported, among others, by the Dubai Civil Aviation Authority, Dubai Airports, Dubai Aviation Engineering Projects, Emirates Airlines, Dubai Air Navigation Services, and the Dubai-based global airline and dnata.

Airports transitioning to more digitalized environment

A Market Outlook report by Beumer Group, says the airport industry is further optimizing airport processes and the passenger experience to “radically change the way we fly.”

Latest technology and automation solutions are reshaping airport operations and improving passenger experience while sustainability strategies are under the spotlight to meet the passenger need for improved Environmental, Social, and Governance (ESG) performance.”

Passenger experience at airports is becoming crucial in 2025, which will be a record-breaking year for passenger volume, revenue generation, and setting standards higher.

The airport industry is moving from a pre-digital to a post-digital age. The use of technology during travel will have a profound impact on how passengers interact with airports with demand focused more on automation and hands-on control over each step of their journey.