North America Aviation Infrastructure Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The total air passenger traffic across North America increased by over 25% between 2011 and 2018. In 2018, the United States, Canada, and Mexico recorded total air passengers carried as 889.02 million, 89.4 million, and 64.6 million, respectively. Several airports in the US are among the world’s busiest airports and handle millions of domestic and international passengers every year. However, over the past two decades, there has been no new airport construction in the US due to several factors. This has resulted in increased pressure on airport operators in handling the passenger traffic. Airports in the US contribute over 7% towards the country’s GDP and hence is in a state of immediate attention for the past five years. Recently, the U.S. Department of Transportation announced that FAA has planned to award USD 840 million in airport infrastructure grants. The investment in airport improvements will be focused on construction and rehabilitation projects across the US. According to the U.S DoT, the 432 grants will fund infrastructure projects at 381 airports across the US and will include the maintenance of taxiways, aprons, and terminals; construction of firefighting facilities, and runway reconstruction and rehabilitation among others. Airports in the US will receive AIP entitlement funding each year based on project needs as well as discretionary funding if the project needs to exceed their available entitlement funds. However, the extent of investment necessary to cope up with the increasing air passenger traffic is much higher compared to the funding offered by the FAA. Hence, many airports are expected to collaborate with private-sector partners as a source for alternative funding.