According to the Airport Council International, global passenger traffic is expected to reach close to 19.7 billion by 2040, with Middle East airports projected to handle over 1.1 billion passengers, more than double the 2019 figure of 405 million passengers, necessitating around $151bn in capacity expansion. The CAPA – Centre for Aviation reports a total of 425 major construction projects at existing airports worldwide, with committed expenditure globally amounting to $450.7bn. The Middle East is among the world’s fastest-growing aviation markets, with over 110 airports, and several key expansion projects underway, such as the Sharjah International Airport’s terminal expansion and Kuwait Airport’s $4.36bn passenger terminal expansion.
Musandam Airport is being constructed in Oman at a cost of $250m, and plans have been unveiled for the new King Salman International Airport in Riyadh, expected to become one of the world’s largest airports, accommodating up to 185 million passengers and processing 3.5 million tons of cargo by 2050. The Red Sea International airport in Saudi Arabia, powered by renewable energy, is expected to become the region’s first-ever carbon-neutral airport. Riyadh Air, a new carrier wholly-owned by the Public Investment Fund, recently launched in Saudi Arabia, and will connect over 100 destinations globally by 2030. Riyadh Air and Saudia, the national flag carrier of Saudi Arabia, recently announced their intent to purchase up to 121 Boeing 787 Dreamliners, in the fifth largest commercial order by value in Boeing’s history.