The global construction market is forecasted by GlobalData to grow by 1.8% in real terms in 2023, having grown by 1.7% in 2022. While the residential construction market in many countries will decline, this will be offset by high growth in the infrastructure sector, with output rising by 8.3% in real terms. GlobalData tracks and profiles all major construction projects from announcement to completion. For further insight on this market, buy the latest profiles here.
Driving growth in the market in 2022 and over the remainder of the decade are a potential 135 mega hydroelectric projects, costing over $100m each. Here are the largest airport infrastructure construction projects initiated globally in Q2 2023, according to GlobalData’s construction projects database.
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1. DOTC/CAAP Airport Expansion
The project involves the expansion of Davao Airport in Davao, the Philippines.
Construction work started in Q2 2023 and is expected to be completed in Q2 2025.
The project intends to modernize the airport’s facilities based on international standards and expand its cargo terminal building and runway.
2. Haneda Airport Terminal 2 North Satellite Building
The project involves the expansion of the Terminal 2 north satellite building with a floor area of 322,000m2 at Haneda Airport 3-chome, Ota-ku, Tokyo, Japan.
Construction work commenced in Q2 2023 and is expected to finish in Q1 2025.
The project aims to increase the number of international flights and the convenience of transit from domestic flights to international flights. Buy the profile here.
3. Bhogapuram Greenfield International Airport
The project involves the construction of an international airport on 1,093ha of land to handle 18MPPA in Bhogapuram, Andhra Pradesh, India.
Construction work started in Q2 2023 and is forecast to complete in Q4 2026.
The project aims to enhance its brand value and make it a financial and industrial hub. Buy the profile here.
4. Bangbu Civil Airport
The project involves the construction of New Airport project in Bangbu, Anhui, China.
Construction work commenced in Q2 2023 and is expected to be completed in Q4 2024.
The project aims to build a new airport facilities to meet the growing number of passenger in the city. Buy the profile here.
5. Hanimaadhoo International Airport Expansion
The project involves the expansion of a 2,460m runway and a terminal building with a floor area of 10,312 m2 in Haa Dhaalu Atholhu, Maldives.
Construction work started in Q2 2023 and is expected to be completed in Q4 2024.
The project aims to increase the passenger handling capabilities of the airport and establish the airport to international standards. Buy the profile here.
For more details on the latest construction projects, buy the profiles here.
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GlobalData’s Construction Projects database tracks over 220,000 new construction projects valued at >$25m from announcement to completion across all countries and sectors.
