Excellent replies by Starlionblue and GalaxyFlyer:
Starlionblue wrote:It can grow a lot, but not everywhere. Some areas, e.g. London and New York, are very congested and have been so for decades. ATC improvements help but there is no silver bullet.
Antiquated airport layouts with deep alleys don't help. JFK, for example, would benefit from a more modern taxiway and apron layout.
GalaxyFlyer wrote:As starlionblue stated, the congestion that gets the headlines is heavily concentrated around major cities (only a few of them, too) and on the ground with terminals built for traffic levels of the ‘70s or 80s. Not just the New York and London where it’s expected, Mumbai, Delhi, and Hong Kong can be very busy. The Atlantic crossings are busy during the track system hours and empty at the in-between hours. Fly São Paulo to Tahiti at anytime and very unlikely to see or hear another plane. Altitudes also separate planes. High level operations are popular with bizjets as you are above the airliners until landing anyway. There are vast areas of the globe one can fly for hours and not see another plane.
There are few areas where demand at peak times is limiting the number of air traffic movements. EWR comes to my mind first, especially since the FAA eliminated the slots at EWR. SFO is another example.
In those few areas where the system is at capacity, carriers will either need to upgauge the aircraft size - like UA's plan to shift RJ flying out of EWR in favor of IAD - or move the traffic to times that aren't already maxed out.
So in my experience, there are times at a relatively small number of airports that are limited, but most airports still have excess capacity; DEN comes to mind, although DEN is limited when surface winds are strong from the west (DEN really needs at least one more east-west runway).
My statements do not represent my former employer or my current employer and are my opinions only.