PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1152034
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1152034
Global Low-Cost Airlines Market is valued at approximately USD 254.23 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 10.4% over the forecast period 2022-2029. Low-Cost Airlines also known as low-cost carrier refers to passenger carrier that offers airline travel services at a relatively affordable cost as compared to other premium airline carriers. The low-cost airlines are different from other airlines in various aspects such as they offer onboard meals only at an additional fee, to reduce fuel cost these airlines use new fleet from the same company. In addition, these airlines generally offer direct sales, and mainly operate at smaller airports. The growing expansion of travel & tourism sector in post covid era and increasing growth of working-class individuals, as well as strategic initiatives from leading market players, are key factors driving the market growth.
According to Statista - as of 2022, the revenue in the global Travel & Tourism market is estimated at USD 716.80 billion, and as per projections, the revenue is expected to show an annual growth rate of 8.46% between 2022 & 2026 to reach USD 991.92 billion by 2026. Also, rising investment in aviation infrastructure in developing regions and growing emergence of low-cost airline services are anticipated to act as catalyzing factors for market growth during the forecast period. However, rising crude oil prices and increasing incidences of terrorism and crimes as well as travel restrictions would impede the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Low-Cost Airlines Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region across the world in terms of market share owing to availability of robust regional aviation infrastructure as well as presence of leading market players in the region. Whereas, Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising investment in aviation infrastructure as well as increasing emergence of low-cost airline services in the region would offer lucrative opportunities for the market over the forecast period.
Major market players included in this report are:
Air Arabia PJSC
AirAsia Group Berhad
Alaska Air Group, Inc.
Azul S.A.
Easyjet Plc
New World Aviation, Inc.
Norwegian Air Shuttle ASA
Qantas Airways Limited
Ryanair Holdings Plc.
Westjet Airlines Ltd
Recent Developments in the Market:
Global Low-Cost Airlines Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Purpose, Destination, Distribution Channel, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Purpose
Leisure Travel
Vfr (Visiting friends and relatives)
Business Travel
Others
By Destination
Domestic
International
By Distribution Channel
Online
Travel Agency
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable