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Low Cost Airlines Market By Purpose, By Distribution Channel, By Destination,: Global Opportunity Analysis and Industry Forecast, 2016-2030

Low Cost Airlines Market By Purpose, By Distribution Channel, By Destination,: Global Opportunity Analysis and Industry Forecast, 2016-2030

  • March 2022
  • 230 pages
  • ID: 6286276
  • Format: PDF
  • Allied Market Research

Summary

Table of Contents

Low Cost Airlines Market By Purpose (Leisure Travel, Vfr, Business Travel, Others), By Distribution Channel (Online, Travel Agency, Others), By Destination (Domestic, International), : Global Opportunity Analysis and Industry Forecast, 2016-2030

The global low cost airlines  market was valued at $155.0 billion in 2016, and is projected to reach $440.5 billion by 2030, growing at a CAGR of 15.2% from 2021 to 2030.Low cost airlines are passenger carriers, which offer travelling service at relatively affordable and competitive rates as compared to other airlines (full service or traditional airline). Low cost airlines are also known as “no frills airlines,” “prizefighters,” “low-cost carriers (LCC),” “discount airlines,” and “budget airlines.” Some of the popular low cost airlines include Ryanair, EasyJet, Air Asia, and Qantas Airways.
The feasibility of the operation of low cost airlines is attributed to its low cost model. This low cost model can include some of the following characteristics—low pricing strategy, simple pricing structure, involves online & direct ticket booking (eliminating extra ground staff & vendors), preference to secondary airport, point-to-point network, single class seating arrangement, ticket fare may not include extra services (food & beverage), intensive aircraft usage, short turnaround time, dense seating arrangements, secondary revenue source (advertisement, onboard selling), and other.
Low cost airlines have grown exponentially worldwide over the past few years, owing to rise in economic activity, ease of travel, travel & tourism industry, urbanization, changes in lifestyle, consumers’ preference for low cost service along with non-stops, and frequent service, increase in purchasing power of middle class households especially in the developing regions, and high internet penetration coupled with e-literacy. However, factors such as volatile crude oil price and increase in terrorism & crime rate, political uncertainty, & natural calamities hinder the market growth. Furthermore, increasing cases and variations in the Covid-19 pandemic are leading to travel restrictions, which is severely affecting the market. Conversely, sustainable airport governance, operational & financial improvement is anticipated to leverage the growth of the low cost airlines market. Nevertheless, factors such high investment & operational cost but low profitability is anticipated to be a major challenge of the low cost airlines industry.
The global low cost airlines market is segmented into type, destination, and distribution channel. By type, the market is divided into leisure travel, visiting friends & relatives (VFR), and business travel. Based on destination, it is bifurcated into domestic and international. Based on distribution channel, the market is classified into online, and travel agency.
The market has been further analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Italy, Spain, Germany, France, Latvia, and rest of Europe), Asia-Pacific (Philippines, Indonesia, Thailand, Singapore, Malaysia, Vietnam, China, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, Africa, and Middle East).
Major companies profiled in the report include Air Arabia PJSC, AirAsia Group Berhad, Alaska Air Group, Inc., Azul S.A., easyjet Plc, New World Aviation, Inc., Norwegian Air Shuttle ASA, Qantas Airways Limited, Ryanair Holdings Plc. and Westjet Airlines Ltd.

KEY BENEFITS FOR STAKEHOLDERS
This report provides an extensive analysis of the current trends and emerging estimations in the global low cost airlines market.
In-depth analysis of the industry is conducted through market estimations of key segments from 2021 to 2030.
Comprehensive analysis of factors that drive and restrain the growth of the market is provided in the report.
Extensive analysis of the industry is conducted by following key product positioning and monitoring the top competitors within the market framework.
The key players are profiled along with their strategies to determine the competitive outlook of the market.

Key Market Segments

By Purpose
? Leisure Travel
? Vfr
? Business Travel
? Others

By Distribution Channel
? Online
? Travel Agency
? Others

By Destination
? Domestic
? International

By Region
? North America
? U.S.
? Canada
? Mexico
? Europe
? U.K.
? Italy
? Spain
? Germany
? France
? Latvia
? Rest of Europe
? Asia-Pacific
? Philippines
? Indonesia
? Thailand
? Singapore
? Malaysia
? Vietnam
? China
? India
? Australia
? Rest of Asia-Pacific
? Lamea
? Latin America
? Middle East
? Africa
? Key Market Players
? Air Arabia PJSC
? AirAsia Group Berhad
? Alaska Air Group, Inc.
? Azul S.A.
? easyJet plc
? New World Aviation, Inc.
? Norwegian Air Shuttle ASA
? Qantas Airways Limited
? Ryanair Holdings Plc
? WestJet Airlines Ltd.

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