Unlocking a $60 Billion Market: How a New Airport 40km from Long Thanh Could Transform the Industry

The highly anticipated Long Thanh International Airport is poised to reach a pivotal milestone.

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Starting September 26, Vietnam’s Civil Aviation Authority (CAAV) will collaborate with relevant agencies to conduct calibration and test flights at Long Thanh International Airport. These operations, lasting over 10 days, will utilize a Beechcraft B300 aircraft.

Runway 1 at Long Thanh Airport spans 4 km in length and 70 m in width, capable of accommodating the most advanced aircraft currently available. Package 4.6, awarded to a joint venture, commenced construction in August 2023. Initially slated for completion by July 2025, the project timeline was later adjusted to April 2025, achieving a three-month acceleration.

Long Thanh International Airport is expected to finalize construction by year-end and commence operations in 2025.

Previously, several operational plans for Long Thanh and Tan Son Nhat Airports were proposed, including transferring all international flights to Long Thanh. The two airports are approximately 40 km apart.

However, CAAV leadership recently stated that no final operational plan has been confirmed.

Mr. Uong Viet Dung, Director of CAAV, emphasized that Long Thanh is envisioned as a modern international airport, aiming to become a key transit hub in Southeast Asia and the Asia-Pacific region.

The government has prioritized the project, regularly directing efforts to expedite progress, with a goal of completing it by late 2025 and initiating operations by mid-2026.

According to Mr. Dung, effective utilization of Long Thanh Airport requires a clear transition plan, synchronized infrastructure, services, and commerce, while ensuring seamless parallel operations with Tan Son Nhat to avoid disruptions.

To date, CAAV has not finalized a plan, opting instead to gather diverse input from experts and passengers.

In a recent interview with Nguoi Lao Dong, Mr. Dung stated, “We will continue to research and select the optimal plan to maximize Long Thanh’s efficiency while redefining a new strategy and role for Tan Son Nhat Airport. The priority is to ensure uninterrupted air transport, maintain safety, and enhance aviation efficiency.”

CAAV leadership added, “For instance, Tan Son Nhat could serve as a hub for international charter and private flights, contributing to the connectivity and financial integration of Ho Chi Minh City as a global financial center.”

The global charter and private aviation market is entering a robust growth phase, valued at tens of billions of dollars.

The Business Research Company reports that the global private jet charter market reached approximately $21.24 billion in 2024 and is projected to nearly double to $40.05 billion by 2029. Grand View Research estimates the broader charter aviation market, encompassing multiple service segments, at $38.41 billion in 2023, with potential to reach $60.97 billion by 2030, reflecting a 7.1% annual growth rate.

Other forecasts suggest a market size of $28–32 billion by 2024–2025, with projections exceeding $50 billion by 2035.

Key growth drivers include post-pandemic demand for flexible travel, expansion of the ultra-wealthy class, and businesses leveraging private aviation as a strategic solution to save time and enhance operational efficiency.

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