Key Market Indicators
Lithuanian airline revenue is projected to hit approximately $287 million by 2028, up from around $247 million in 2023. This marks an average annual growth rate of 2.3%. However, the Lithuanian market has seen a decline of 1.8% per year since 2015. In 2023, Lithuania ranked 25th globally in airline revenue, with Estonia slightly ahead at $247 million. Germany, Ireland, and Russia occupied the second, third, and fourth spots, respectively. Meanwhile, Lithuanian air passenger traffic is expected to drop significantly. By 2028, the number of passengers is forecasted to fall to about 13,240 from 32,780 in 2023, representing an average annual decline of 14.4%. Despite this recent downturn, Lithuanian air traffic demand had been increasing by 4.7% annually since 1997. In 2023, Lithuania was 136th in the world rankings, with Samoa surpassing it at 32,780 passengers. China, India, and Ireland ranked second, third, and fourth, respectively, in the same category.