An aerotropolis is a metropolitan area in which the layout, economy, and infrastructure are centered on an airport, which serves as the airport city. Aerotropolis is like metro cities, which contain a core commercial city and transport linked suburbs. An aerotropolis has all the major facilities of a metropolis, such as medical facility, offices and hotels, IT sectors, retail and wholesale merchandize marts along with an airport.The major driving factor of the aerotropolis market is passenger experience enhancement. Airport authorities are constantly focusing on enhancing passenger experience with reliable operations at airport terminals. The aerotropolis offers passengers various options to engage in during their travel wait time such as attending official meetings, hospital facilities, and shopping among others. These features of an aerotropolis that help passengers to meet their requirements during their travel wait time, will lead to rapid adoption of the aerotropolis across the globe. Moreover, the aerotropolis provides an opportunity to drive businesses in the suburbs. An aerotropolis provides various advantages to a business in the new speed driven globally networked economy.
The growth of the aerotropolis market is limited by the infrastructure cost. An aerotropolis is similar to a metropolitan city which has infrastructure such as airport, residential areas, hospitals, offices, and hotels. The cost involved in building this infrastructure is exorbitant, which is limiting construction companies as well as different airport authorities from opting for the new aerotropolis infrastructure. This in turn is inhibiting the aerotropolis market from expanding over the years.
The development of smart cities around an airport is poised to bolster the aerotropolis market in the coming years. It has been noted that the development of airport centered smart cities which have increased connectivity with large, efficient, and well networked airports have gained interest among construction companies. This is leading to adoption of new technologies at a rapid rate in order to provide passengers with enhanced experiences as well as help business hubs to grow. Rapid adoption of aerotropolis systems is anticipated to expand the aerotropolis market in the coming years.
The aerotropolis market is segmented on the basis of types, and geography. The two types of aerotropolis are greenfield airport aerotropolis and brown field airport aerotropolis. The greenfield airport aerotropolis market accounted for maximum share due to the rapid increase in air traffic across the globe and surging demand for air travel. Owing to this, airport authorities are constantly focusing on enhancing non-aeronautical revenues by offering passengers with better value added services even during their wait.
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The leading vendors in the market for aerotropolis includes Turner Construction (U.S), Skanska AB (Sweden), Walsh Group (U.S), Manhattan Construction Company (U.S), The Whiting-Turner Contracting Company (U.S), HENSEL PHELPS (U.S), Austin Industries (U.S), Clark Construction (U.S), Balfour Beatty (U.K), and McCarthy Building Companies (U.S).