4th September, 2023
Geography Of Focus: KSA
The Kingdom aims to generate around $100 billion in investment in its aviation sector and make Saudi Arabia a global aviation hub by 2030. The General Authority of Civil Aviation, under its National Aviation Sector Strategy, plans to increase air connectivity to 250 destinations, reaching 330 million passengers, and double air cargo capacity to 4.5 million tons by the end of the decade. The Kingdom also plans to launch a new national airline to complement its existing carriers and build a new international airport in Riyadh, as well as eight new regional airports.
The global aerospace market fell to around $300 billion in 2020 due to the pandemic. However, the market is expected to grow from $300 billion two years ago to $430 billion in 2025, at an annual rate of 7.7 percent.
As part of the broader transformation of its aviation sector, Saudi Arabia is also moving towards corporatizing its airports. Earlier this year, GACA and Matarat Holding Company announced the completion of an institutional transformation of 25 of the Kingdom’s airports. This included the creation of the Airports Cluster 2 Company, which will manage and operate 22 airports, bringing oversight for construction, operation, and management under one roof. The goal is to improve service, integrate international best practices in airport management, and increase competitiveness. Investment and commercial opportunities in the sector, including airports, freight (Goods Carrying in Cargo), catering, maintenance, and ground services, will be opened to local and foreign investors soon.
Airport Innovation Summit -KSA is lined up with interactive Panel Discussions, Keynote speeches, Networking Opportunities, and Case Studies presented by local and international participants.
Contact Number – + 971565155469
Website Address – https://airportinnovationsummit.csevents.ae/