Birmingham Airport has committed to £300 million of investment over the next four years as passenger numbers are expected to reach 17 million by 2029.
Chief executive Nick Barton said a further £75 million would be spent each year between now and 2029 alongside its current programme of investment.
The airport has also confirmed it has started a process which will deliver its next masterplan up to 2040.
Major projects in the making include further retail and hospitality offerings over the next three years alongside three new food and beverage outlets in the departure lounge.
Spending outside of the terminal building will include reconstructing parts of the taxiways, new stands, lighting replacement and runway works totalling £40 million.
Baggage capacity will also undergo an overhaul, with a further £40 million invested in self-service drop off, baggage sorting systems and greater handling capabilities.
E-gates will be installed in the south terminal for the first time by next summer alongside an ongoing investment programme in security lanes and customer facility upgrades in both arrivals and departures.
Other planned investment includes a rolling programme of around £50 million aimed at sustainability measures including a new heating and cooling system in the terminal, ongoing electricity metering, replacement of gas assets and fleet electrification and replacement.
Birmingham Airport says it is also looking at expanding its solar generation operations.
Mr Barton said: "We are currently in our most successful year ever at the airport and we are confident this growth is set to continue.
"We have already made significant investment in the airport this year, having delivered new departure gates, lounges on the international pier, additional security lanes, new retail offerings and baggage capacity to name only a few projects.
"But we need to go further as we can see more growth coming. However, we need to do this in a responsible way for the airport, its colleagues and local communities.
"We need to make sure all areas are fit for the future including check in, immigration, security, retail and our airfield.
"Our plan for the next three to four years shows how we are on our way to delivering more choice for our passengers and enhanced service while continuing the journey to net zero."
The announcement was made as part of the Government's Regional Investment Summit which took place in Birmingham.
West Midlands Mayor Richard Parker added: "Every year, millions of visitors first set foot in our region at Birmingham Airport and it's the workplace of thousands of our residents.
"Now the airport is backing the West Midlands even more with a £300 million investment. That means more passengers, more freight and more opportunities to link the region to the world.
"By strengthening these international routes, we make trade and travel easier, helping to drive economic growth across the West Midlands and the whole of the º£½ÇÊÓƵ."
