US airports ‘need $151bn over next 5 years’

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Investment needs clear as industry gathers in San Diego at the 2023 P3 Airport Summit to chart the next phase for airport P3s.

Airports Council International (ACI) has estimated that US Airports need over $151bn of investment over the next five years - calling on Congress to amend programs such as the Airport Improvement Program and Passenger Facility Charge and remove the regulatory burdens to accelerate procurements. 

While reforms in public funding initiatives and bureaucratic oversight are needed, many airport owners are asking if P3s might also be the solution and are turning to industry experts for answers.

In the last few years, projects such as Kansas City International Airport’s new $1.5bn terminal, the $4.2bn Terminal 6 facility at New York’s JFK Airport and the 43-year P3 contract for Tweed Airport in New Haven, Connecticut, have blazed a trail in driving investment into airports.

In addition to conversations about infrastructure and airport greenfield projects such as CONRACs and parking facilities, topics regarding air cargo, advanced air mobility and DEI participation are also expected to be front and center at the conference.

The full report can be found by clicking here.

P3 Bulletin will bring all the most important news from the event over the coming week. More information on the summit can be found here.