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:
Breakup by Region:
- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- 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 |
| Report Price and Purchase Option |
Single User License: US$ 2499
Five User License: US$ 3499
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) |
Key Questions Answered in This Report:
- How has the global low cost airlines market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global low cost airlines market?
- What are the key regional markets?
- What is the breakup of the market based on the purpose?
- What is the breakup of the market based on the distribution channel?
- What is the breakup of the market based on the destination?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global low cost airlines market and who are the key players?
- What is the degree of competition in the industry?
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
9.2 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
9.3 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
9.4 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
9.5 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
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$), 2016-2021
Figure 3: Global: Low Cost Airlines Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Low Cost Airlines Market: Breakup by Purpose (in %), 2021
Figure 5: Global: Low Cost Airlines Market: Breakup by Distribution Channel (in %), 2021
Figure 6: Global: Low Cost Airlines Market: Breakup by Destination (in %), 2021
Figure 7: Global: Low Cost Airlines Market: Breakup by Region (in %), 2021
Figure 8: Global: Low Cost Airlines (Leisure Travel) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Low Cost Airlines (Leisure Travel) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Low Cost Airlines (VFR) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Low Cost Airlines (VFR) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Low Cost Airlines (Business Travel) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Low Cost Airlines (Business Travel) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Low Cost Airlines (Other Purposes) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Low Cost Airlines (Other Purposes) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Low Cost Airlines (Online) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Low Cost Airlines (Online) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Low Cost Airlines (Travel Agency) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Low Cost Airlines (Travel Agency) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Low Cost Airlines (Other Distribution Channels) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Low Cost Airlines (Other Distribution Channels) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Low Cost Airlines (Domestic) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Low Cost Airlines (Domestic) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Low Cost Airlines (International) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Low Cost Airlines (International) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: North America: Low Cost Airlines Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: North America: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: United States: Low Cost Airlines Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: United States: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Canada: Low Cost Airlines Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Canada: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Asia-Pacific: Low Cost Airlines Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Asia-Pacific: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: China: Low Cost Airlines Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: China: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Japan: Low Cost Airlines Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Japan: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: India: Low Cost Airlines Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: India: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: South Korea: Low Cost Airlines Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: South Korea: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Australia: Low Cost Airlines Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Australia: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Indonesia: Low Cost Airlines Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Indonesia: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Others: Low Cost Airlines Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Others: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Europe: Low Cost Airlines Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Europe: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Germany: Low Cost Airlines Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Germany: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: France: Low Cost Airlines Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: France: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: United Kingdom: Low Cost Airlines Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: United Kingdom: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Italy: Low Cost Airlines Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Italy: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Spain: Low Cost Airlines Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Spain: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Russia: Low Cost Airlines Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Russia: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Others: Low Cost Airlines Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Others: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Latin America: Low Cost Airlines Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Latin America: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Brazil: Low Cost Airlines Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Brazil: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Mexico: Low Cost Airlines Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Mexico: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Others: Low Cost Airlines Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Others: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Middle East and Africa: Low Cost Airlines Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Middle East and Africa: Low Cost Airlines Market: Breakup by Country (in %), 2021
Figure 74: Middle East and Africa: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2022-2027
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, 2021 and 2027
Table 2: Global: Low Cost Airlines Market Forecast: Breakup by Purpose (in Million US$), 2022-2027
Table 3: Global: Low Cost Airlines Market Forecast: Breakup by Distribution Channel (in Million US$), 2022-2027
Table 4: Global: Low Cost Airlines Market Forecast: Breakup by Destination (in Million US$), 2022-2027
Table 5: Global: Low Cost Airlines Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Low Cost Airlines Market: Competitive Structure
Table 7: Global: Low Cost Airlines Market: Key Players