INCHEON -- Some 1,000 global aviation experts and airport industry insiders from 70 countries gathered at Incheon International Airport Corp.’s third annual World Aviation Industry Conference on Wednesday, an event aimed at exchanging insights on the future growth potential of global aviation and airports. 

The three-day event officially kicked off with IIAC CEO Chung Il-young’s opening remarks, in which he stressed the airport’s role in creating synergy with aviation service.

“In the middle of the paradigm shift the aviation industry is going through in the advent of the ‘fourth industrial revolution,’ it is the airport that can provide jobs, revitalize the global economy and display the latest technology in such a concept of ‘Smart-port,’” Chung said. 

Chung added that by injecting 4 trillion won ($3.5 billion) by 2023, the IIAC will transform into a global hub airport and create an “Air City” surrounding the airport where a resort complex, hotel, golf course and aviation education center would be capable of hosting some 100 million visitors per year. 

Keynote addresses followed from Bongani Maseko, chairman of the Airports Council International World Executive Committee, and Kim Young-tae, secretary-general of the International Transport Forum of the Organization for Economic Cooperation and Development. 

Three sessions were held with industry experts discussing the paradigm shift in the global aviation industry, a future airport master plan in response to the changing environment and the expansion of capacity through the optimization of airport operation. 

Wendy Sowers, director of market forecasting at Boeing Commercial Airplanes, said during the first session that the Asian market has risen as a key market for the aviation industry. 

“With some 4.4 billion passengers having used airports around the world for traveling this year, the number is expected to increase by some 300 million each year,” she said.

With more companies like low-cost carriers striving to improve airline efficiencies and operations with airplane technologies, the airline growth, segmentation and need for efficiency will provide airport opportunities, she added. 

By Kim Da-sol (ddd@heraldcorp.com)