Middle Eastern airports are projected to require $151 billion in investments by 2040 to accommodate a surge in annual passenger numbers to 1.1 billion, according to industry experts. This marks the region’s most ambitious aviation expansion to date.
Key Projects Driving Regional Growth
- Dubai: A $35 billion transformation of Al Maktoum International Airport is underway to make it the world’s largest, capable of handling 260 million passengers annually.
- Saudi Arabia: The $50 billion King Salman International Airport aims to accommodate 300 million passengers annually by 2030, setting a new benchmark for capacity.
- Gulf Region: Analytics firm Global Data reports that 48 airport renovation and expansion projects, valued at $182.6 billion, are in progress across the Arabian Gulf.
Industry-Wide Optimism
This expansion aligns with forecasts predicting global air passenger traffic to reach 20 billion by 2042 and nearly 25 billion by 2052. The Middle East and Asia-Pacific regions are poised to account for 58% of global air passenger demand by 2040, as outlined by ACI World Airport Traffic Forecasts.
Airlines and Profit Growth
Regional airlines are capitalizing on the travel boom:
- The Middle East’s 10 largest airlines have ordered 795 aircraft for delivery by 2029.
- In 2024, carriers earned $23.1 profit per passenger, three times the global average.
- Projected net profits for Middle Eastern airlines:
- $3.1 billion in 2023
- $5.3 billion in 2024
- $5.9 billion in 2025
- Profit per passenger is forecast to reach $23.9 in 2025, far surpassing the global average of $7.
Additional Upgrades Across the Region
- Kuwait: A new triangular terminal is set to open by 2025.
- Sharjah: The international airport’s terminal expansion is expected to be completed by 2026.
The ambitious expansion initiatives reflect the region’s confidence in sustained aviation growth, ensuring it remains a key player in the future of global air travel.
