Airport offers access to vital infrastructure & services that help air transport. Airports play a vital role for economic growth on national, local, and regional levels. The effective or efficient development & functioning of airports is as imperative for the sustainable expansion of air transport in particular for economy as whole. The airport infrastructure is a sign of economic prosperity. Airports connect people with global economies and its quality is an essential component of overall hauling network, contributing directly to country's global competitiveness & the flow of foreign investment. Adequate airport & ground infrastructure a key factor in the growth of economy and the overall transportation network contributes directly to international competitiveness & the flow of distant investment.
According to study, “Airport Infrastructure Investment in India (Infrastructure Investments, Projects, Airport, Airlines, & Associations) By Five Year Plans (12th Plan - 15th Plan)” some of the major companies that are currently working in the airport infrastructure investment in India are Airport Authority of India (AAI), Larsen & Toubro Limited (L&T), GMR Infrastructure Limited, Bengal Aerotropolis Project Limited, GVK Power & Infrastructure and L&T, Reliance Infrastructure Limited, LANCO, Spice Jet Airlines, BetFair, JetLite (Air Sahara), Air India, Jagson Airline, Jet Airways konnect, Rank Group, GoAir Airlines, Paramount Airways, IndiGo Airlines, Air Asia. The open sky policy of government has helped numerous overseas players entering the market with huge spending.
Based on airport, the Indian airport infrastructure investments are classified into domestic airport and international airport. Domestic airports include airport engineering, airport terminals, airport light and aircraft ground handling. Domestic airports are the third major in the world & the overall civil aviation market. International airports include shopping are, aircraft maintenance engineering, hotels and conferencing & entertainment. Based on parts of airport, market is classified into fixed equipments, ground support equipments, and airport services. Ground support equipments are further sub-segmented into powered equipment & non-powered equipments.
Some airport projects are Future Terminal 1, Lyon–Saint Exupery Airport, Gatwick Airport Expansion, Tampa International Airport Expansion, Navi Mumbai International Airport, John F Kennedy International Airport JetBlue Terminal, King Khaled International Airport, Taiwan Taoyuan International Airport (TPE/RCTP), Long Thanh International Airport, Frankfurt International Airport Expansion Project and Halifax Robert L Stanfield International Airport. Moreover, some associations are Airports Authority of India, Directorate General of Civil Aviation, Airports Economic Regulatory Authority and Association of Private Airport Operators.
The Indian airport infrastructure investment market is primarily driven by emergence of new business destinations, followed by increased scope for connectivity, rising air passengers & cargo traffic, low cost airlines, public private partnership (PPP) model, increased affordability of air travel & booming tourism, domestic & international or cargo traffic, new operating models of airlines and government’s open sky policy. Apart from advantages, the major restraint factor including inadequate runways, followed by Maintenance, Repair & Overhaul (MRO) facilities. In addition, employment in country and development of new airports are some of the major opportunities of the market.
Recently, Airports Authority of India (AAI) plans to bring near to 250 airports under process across the country by 2020. The Indian airport infrastructure investment market has placed insistently and it will reach US $20 billion, by 2020.
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Ankur Gupta, Head Marketing & Communications