Low Cost Airlines Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Low Cost Airlines Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Report Format: PDF+Excel | Report ID: SR112023A5871
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Market Overview:

The global low cost airlines market reached a value of US$ 172.54 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 302.85 Billion by 2027, exhibiting growth rate (CAGR) of 9.60% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

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, along with forecasts at the global, regional and country level from 2022-2027. 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Purpose, Distribution Channel, Destination, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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.
Customization Scope 10% Free Customization
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Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Low Cost Airlines Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
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