The Airport Consultants Council (ACC) has released Capital Development at U.S. Airports, a study providing a near term outlook of trends, projects, and funding.
This study is intended to provide insight into the magnitude of capital development planned to occur at airports throughout the United States through 2024. The top 130 airports, ranked by passenger totals, were surveyed, and research of publicly available information was compiled to estimate the amount of investment required to meet project demands. The study also provides observations regarding the data and research compiled regarding the changing landscape of capital improvements at airports.
“We are pleased to present this new study which provides an estimate of capital investment needs at the nation’s airports of approximately $138 billion over the next five years, ” said ACC President T.J. Schulz. “This study highlights the significant amount of capital required to enhance, grow, and maintain our nation’s airports – reinforcing airports’ vital role in the nation’s economy.”
ACC appointed InterVISTAS Consulting, an aviation consultancy, to prepare the study. In addition to the study which can be found at the ACC website, ACC provides for its members an interactive database which enables users to analyze, sort, and visualize the magnitude and type of investment for many of the nations’ largest airports.
“With this research, ACC members and those involved in the U.S. airport industry have access to data and insights that can inform business decisions in this dynamic industry,” said Brian Mohr, an airport consultant at InterVISTAS.
Among the key findings of the report are:
- Terminal projects represent the largest share of capital investments – with about 50% of total investment dedicated to such improvements
- Climate change mitigation is increasingly a focus of improvement planning – airports are moving beyond traditional sustainability considerations and investing in mitigation measures to ensure infrastructure resiliency
- Customer experience is a central focus of airport strategy – the competition for passengers continues, as well as the imperative to diversify airport revenues, driving increased focus on innovation and customer
- Sustained airline profitability – supports confidence by lenders, airlines and airports to invest in growing markets.
To download a copy of the report, please visit the ACC website by clicking here.