Incheon International Airport Corporation

연혁

Phase 4 Construction Background

The following is the background on the phase 4 construction project of Incheon International Airport.

Growth Trend of The Aviation Industry

The demand for aviation market is expected to increase by at least twofold in the next 15 years (average annual growth rate of 4.4%). Especially, the demand in Asia-Pacific is forecast to triple (average annual growth rate of 5.5%) and become the leading region of the world's aviation market by 2037.

Increase in The World's Demand for Aviation Needs

Revenue passenger kilometer (unit: one trillion ㎞) / 1990 / 1995 / 2000 / 2005 / 2010 / 2015 / GMF 2000 forecast / 2020 / 2025 / 2030 / 2035 / Average annual growth tate: 4.4% Source: ICAO, Airbus GMF (Global Marketing Forecast) 2018

Increase in The Demand for Aviation Needs by Region (2018-2037)

Europe 3.3% / Middle East 5.9% / CIS 4.1% / Africa 4.9% / aisa-pacific ocean 5.5% / North America 3.1$ / South America 4.2% Source: Airbus GMF 2018

Competitive Expansion of Rival Airports

The competition to occupy the world's aviation market is intensifying. Incheon Airport's rival airports have completed large-scale developments or undergoing expansions to preempt the future commercial aviation market.
Incheon Airport plans to complete phase 4 construction by 2024, which can boost its status to number three in the world (based on international passengers).

Expansion and development status of major airports

Current capacity (‘19)
  • Incheon
    Airport
    77 mil. PAX
  • Dubai
    Airport
    90 mil. PAX
  • Hong Kong
    Airport
    78 mil. PAX
  • Istanbul
    Airport
    63 mil. PAX
Development plan
  • Incheon
    Airport
    106 mil. PAX (‘24)
  • Dubai
    Airport
    118 mil. PAX (‘24)
  • Hong Kong
    Airport
    100 mil. PAX (‘24)
  • Istanbul
    Airport
    110 mil. PAX (‘24)

Increase in aviation demand for Incheon Airport

Incheon Airport has constantly grown at the average annual growth rate of around 7% after its opening. With the rapid growth of low cost carriers (LCC) and the impact of the Open Skies Agreement in the recent years, the need to expand the existing facilities is becoming a main issue.

Increase at the rate of about 7% since opening / 01: 1.454 / 02: 2,092 / 03: 1,979 / 04: 2,408 / 05: 2,605 / 06: 2,819 / 07: 3,123 / 08: 2,997 / 09: 2,855 / 10: 3,348 / 11: 3,506 / 12: 3,897 / 13: 4,148 / 14: 4,551 / 15: 4,928 / 16: 5,777 / 17: 6,208 / 18: 6,826 / 19: 7,200 / 28: 100 mil. passengers (forecast)
  • 7%
    (Average annual growth)
    Passengers (10,000) 2002: 2,092 / 2018: 6,826 / 3.3 times
  • 4%
    (Average annual growth)
    Cargo (10,000 tons) 2002: 202 / 2018: 392 / 2 times
  • 7%
    (Average annual growth)
    Transfer (10,000 passengers) 2002: 246 / 2018: 802 / 3.2 times
  • 58%
    (Average annual growth)
    Low cost carriers (10,000 passengers) 2009: 34 / 2018: 2,077 / 61 times