In 2023, the low-cost airlines passenger volume in the US stood at 269.17 million. Rear-view analysis from 2013 reveals a consistent upward trend, with volume increasing from 200.01 million in 2013 to 269.17 million in 2023. Year-on-year variations show a slowing growth rate, with the most significant yearly increase of 8.77% occurring in 2015. Over the last two years, growth rates were 2.13% in 2022 and 2.04% in 2023. The average annual growth rate (CAGR) over the last five years leading to 2023 is 2.22%.
Forecast data indicate continued growth, albeit at a slower pace, reaching 294.52 million passengers by 2028. The anticipated CAGR for 2024-2028 is 1.42%, with an overall growth rate of 7.31% over the five-year forecast period.
Future trends to watch for:
- Potential impacts of emerging competitors and market saturation
- Effects of economic fluctuations on discretionary travel spending
- Technological advancements and their adoption by low-cost carriers
- Regulatory changes and geopolitical factors affecting travel demand
- Shifts in consumer behavior and preferences toward travel
