By 2036, Wanaka could have a new terminal, extended runway, larger planes landing and 1650 passengers arriving daily - up from 160 at present.
But before that happens, focus must first turn to amending the airport designation and district plan to protect airport operations and a debate on how the airport will be governed - for example, by a council-owned company, rather than a management committee.
Former airport manager Tim Johnston recently presented the master plan to the council in Wanaka.
It has been more than three years in gestation and provides guidelines and scenarios for future development.
Any development would be driven by the market and commercial operators.
The master plan and air traffic forecasts would be updated regularly, Mr Johnston said.
"The most important thing is to complete the designation. The land is still rural general.
"Protection is critical . . .
"There is no land left for new operators until the designation is sorted."
Cr Gillian Macleod said it was important that Wanaka Airport worked with Queenstown Airport, rather than competed, because the council had made a substantial investment in Queenstown Airport.
Mayor Clive Geddes said Cr Macleod's concerns were about governance and could be debated in two months' time.
Airlines would always choose routes that were profitable and any huge demand from Wanaka could well result in fewer flights to Queenstown, he said.
The master plan comes with a disclaimer that states it is a realistic growth scenario but its forecasts do not necessarily imply any commercial operator intends to start or increase services.
Wanaka Airport is not certificated, meaning scheduled airline flights carrying 30 or more people cannot operate.
Air New Zealand operates daily scheduled flights with the 19-seater Beech 1900D aircraft.
Certification may need to be achieved as early as 2013, the report states.
Current operations include flightseeing, helicopter operations, sky-diving, private aviation, tourist flights, non-scheduled charter flights, airshow events and military aircraft landings.
In 2006 (an airshow year) there were 21,432 landings.
That is expected to increase to 70,457 by 2036.
Redesignation is necessary because of the recent purchases of additional land to extend the airport holding.
As part of the designation process, air noise boundaries will be amended and height controls will be revised.
Reverse sensitivity issues have been addressed with residential neighbours through the use of restrictive covenants on subdivisions, preventing complaints about airport operations.
An "aero park" accommodation-hangar proposal has been mooted by the Pittaway family, who own land near the airport and recently obtained a visitor accommodation zone change.
