PUBLISHER: IMARC | PRODUCT CODE: 1291459
PUBLISHER: IMARC | PRODUCT CODE: 1291459
Low Cost Airlines Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview:
The global low cost airlines market size reached US$ 189.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 315.4 Billion by 2028, exhibiting growth rate (CAGR) of 8.7% during 2023-2028.
Also known as budget airlines or no-frills carriers, low cost airlines offer fewer amenities for short-haul than conventional full-service airlines. These airlines are affordable, but they charge separately for each item, such as food, beverages, prior boarding, carry-on baggage and car rental services, to generate non-ticket revenues. They also use single type aircraft with minimum equipment to reduce weight, acquisition and maintenance costs while increasing fuel efficiency. They operate at less congested secondary airports to reduce airport fees, air traffic, delays and ground time between flights.
Low Cost Airlines Market Trends:
A significant rise in domestic travel and tourism represents one of the key factors bolstering the market growth. Moreover, the leading airline companies offer tickets directly via the telephone or the internet and eliminate the role of third-party agencies, which reduces the cost of transactions and services. This, in confluence with the widespread adoption of ticketless travel and the growing internet penetration, is contributing to the market growth. Furthermore, these airlines operate via point-to-point nonstop flights that aid in reducing travel time and enabling better aircraft utilization. In addition to this, the increasing focus of business travelers on minimizing travel time and costs is influencing the market positively. The emphasis of the market players on providing discounted fares to early reservations while enhancing passenger connectivity is driving the market further. However, the decline in the number of commercial flights on account of the spread of the coronavirus disease (COVID-19) and several measures undertaken by governing agencies to prevent the spread of the pandemic is negatively influencing the market. The market will experience growth once restrictions on traveling are lifted.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global low cost airlines market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on purpose, distribution channel and destination.
Breakup by Purpose:
- Leisure Travel
- VFR
- Business Travel
- Others
Breakup by Distribution Channel:
- Online
- Travel Agency
- Others
Breakup by Destination:
- Domestic
- International
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Air Arabia PJSC, Alaska Airlines Inc., Capital A Berhad (Tune Group Sdn Bhd), easyJet plc, Go Airlines (Wadia Group), IndiGo, Jetstar Airways Pty Ltd (Qantas Airways Limited), Norwegian Air Shuttle ASA, Ryanair Holdings PLC, Southwest Airlines Co., SpiceJet Limited, Spirit Airlines Inc. and WestJet Airlines Ltd.
Key Questions Answered in This Report
1. What was the size of the global low cost airlines market in 2022?
2. What is the expected growth rate of the global low cost airlines market during 2023-2028?
3. What has been the impact of COVID-19 on the global low cost airlines market?
4. What are the key factors driving the global low cost airlines market?
5. What is the breakup of the global low cost airlines market based on the purpose?
6. What is the breakup of the global low cost airlines market based on the destination?
7. What are the key regions in the global low cost airlines market?
8. Who are the key players/companies in the global low cost airlines market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Low Cost Airlines Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Purpose
- 6.1 Leisure Travel
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 VFR
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Business Travel
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Others
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
7 Market Breakup by Distribution Channel
- 7.1 Online
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Travel Agency
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Others
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
8 Market Breakup by Destination
- 8.1 Domestic
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 International
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 Air Arabia PJSC
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.2 Alaska Airlines Inc.
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.2.3 Financials
- 14.3.2.4 SWOT Analysis
- 14.3.3 Capital A Berhad (Tune Group Sdn Bhd)
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.4 easyJet plc
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.4.3 Financials
- 14.3.5 Go Airlines (Wadia Group)
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.6 IndiGo
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 Financials
- 14.3.7 Jetstar Airways Pty Ltd (Qantas Airways Limited)
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.8 Norwegian Air Shuttle ASA
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.8.3 Financials
- 14.3.9 Ryanair Holdings PLC
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.9.3 Financials
- 14.3.9.4 SWOT Analysis
- 14.3.10 Southwest Airlines Co.
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.10.3 Financials
- 14.3.10.4 SWOT Analysis
- 14.3.11 SpiceJet Limited
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.11.3 Financials
- 14.3.12 Spirit Airlines Inc.
- 14.3.12.1 Company Overview
- 14.3.12.2 Product Portfolio
- 14.3.12.3 Financials
- 14.3.12.4 SWOT Analysis
- 14.3.13 WestJet Airlines Ltd.
- 14.3.13.1 Company Overview
- 14.3.13.2 Product Portfolio
- 14.3.13.3 SWOT Analysis
- 14.3.1 Air Arabia PJSC
List of Figures
- Figure 1: Global: Low Cost Airlines Market: Major Drivers and Challenges
- Figure 2: Global: Low Cost Airlines Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Low Cost Airlines Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 4: Global: Low Cost Airlines Market: Breakup by Purpose (in %), 2022
- Figure 5: Global: Low Cost Airlines Market: Breakup by Distribution Channel (in %), 2022
- Figure 6: Global: Low Cost Airlines Market: Breakup by Destination (in %), 2022
- Figure 7: Global: Low Cost Airlines Market: Breakup by Region (in %), 2022
- Figure 8: Global: Low Cost Airlines (Leisure Travel) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 9: Global: Low Cost Airlines (Leisure Travel) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 10: Global: Low Cost Airlines (VFR) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 11: Global: Low Cost Airlines (VFR) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 12: Global: Low Cost Airlines (Business Travel) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 13: Global: Low Cost Airlines (Business Travel) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 14: Global: Low Cost Airlines (Other Purposes) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 15: Global: Low Cost Airlines (Other Purposes) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 16: Global: Low Cost Airlines (Online) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 17: Global: Low Cost Airlines (Online) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 18: Global: Low Cost Airlines (Travel Agency) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 19: Global: Low Cost Airlines (Travel Agency) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 20: Global: Low Cost Airlines (Other Distribution Channels) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 21: Global: Low Cost Airlines (Other Distribution Channels) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 22: Global: Low Cost Airlines (Domestic) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 23: Global: Low Cost Airlines (Domestic) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 24: Global: Low Cost Airlines (International) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 25: Global: Low Cost Airlines (International) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 26: North America: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
- Figure 27: North America: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 28: United States: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
- Figure 29: United States: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 30: Canada: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
- Figure 31: Canada: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 32: Asia-Pacific: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
- Figure 33: Asia-Pacific: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 34: China: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
- Figure 35: China: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 36: Japan: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
- Figure 37: Japan: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 38: India: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
- Figure 39: India: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 40: South Korea: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
- Figure 41: South Korea: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 42: Australia: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
- Figure 43: Australia: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 44: Indonesia: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
- Figure 45: Indonesia: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 46: Others: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
- Figure 47: Others: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 48: Europe: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
- Figure 49: Europe: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 50: Germany: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
- Figure 51: Germany: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 52: France: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
- Figure 53: France: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 54: United Kingdom: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
- Figure 55: United Kingdom: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 56: Italy: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
- Figure 57: Italy: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 58: Spain: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
- Figure 59: Spain: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 60: Russia: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
- Figure 61: Russia: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 62: Others: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
- Figure 63: Others: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 64: Latin America: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
- Figure 65: Latin America: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 66: Brazil: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
- Figure 67: Brazil: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 68: Mexico: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
- Figure 69: Mexico: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 70: Others: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
- Figure 71: Others: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 72: Middle East and Africa: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
- Figure 73: Middle East and Africa: Low Cost Airlines Market: Breakup by Country (in %), 2022
- Figure 74: Middle East and Africa: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 75: Global: Low Cost Airlines Industry: SWOT Analysis
- Figure 76: Global: Low Cost Airlines Industry: Value Chain Analysis
- Figure 77: Global: Low Cost Airlines Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Low Cost Airlines Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Low Cost Airlines Market Forecast: Breakup by Purpose (in Million US$), 2023-2028
- Table 3: Global: Low Cost Airlines Market Forecast: Breakup by Distribution Channel (in Million US$), 2023-2028
- Table 4: Global: Low Cost Airlines Market Forecast: Breakup by Destination (in Million US$), 2023-2028
- Table 5: Global: Low Cost Airlines Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 6: Global: Low Cost Airlines Market: Competitive Structure
- Table 7: Global: Low Cost Airlines Market: Key Players
