Gatwick Airport aims to be serving 40 million passengers a year by 2020, nearly 10 million more than in recent years.
The south-east airport, owned and operated by BAA until December 2009 when it was bought by London City Airport owners Global Infrastructure Partners, hopes to hit 45 million passengers by 2030.
Stewart Wingate, Gatwick Airport’s CEO, said: “Our ambition is to compete to grow and become London’s airport of choice.”
In the last financial year (April 2010 to March 2011) 31.6 million passengers flew from Gatwick, which was down from 32.4 million the previous year.
The airport’s record figures, in 2007, saw 35.1million passengers travel through the airport.
To achieve the rise in numbers, the airport has set out a master plan, which includes making better use of existing facilities alongside the £1 billion investment currently underway.
Earlier this week Gatwick opened its new £45 million high-tech security area in the South Terminal, and next month the £75 million expansion of the North Terminal is due to be unveiled.
Other projects include enabling Airbus A380 operations, expanding the North Terminal security area and reconfiguring the North Terminal international departures lounge.
The masterplan, currently in draft format and open to discussion, outlines key ways that Gatwick hopes to grow, including making sure the runway is used more efficiently.
However, the plan does not explore airport expansion, which under the current government has been ruled out in the south-east.
www.gatwickairport.com/masterplan