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Report
Low Cost Airlines Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Report I 2023-05-29 I 143 Pages I IMARC Group
Market Overview:
The global low cost airlines market size reached US$ 189.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 315.4 Billion by 2028, exhibiting growth rate (CAGR) of 8.7% during 2023-2028.
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 report, along with forecasts at the global, regional and country level from 2023-2028. 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.
Key Questions Answered in This Report
1. What was the size of the global low cost airlines market in 2022?
2. What is the expected growth rate of the global low cost airlines market during 2023-2028?
3. What has been the impact of COVID-19 on the global low cost airlines market?
4. What are the key factors driving the global low cost airlines market?
5. What is the breakup of the global low cost airlines market based on the purpose?
6. What is the breakup of the global low cost airlines market based on the destination?
7. What are the key regions in the global low cost airlines market?
8. Who are the key players/companies in the global low cost airlines market?
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
Figure 1: Global: Low Cost Airlines Market: Major Drivers and Challenges
Figure 2: Global: Low Cost Airlines Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Low Cost Airlines Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Low Cost Airlines Market: Breakup by Purpose (in %), 2022
Figure 5: Global: Low Cost Airlines Market: Breakup by Distribution Channel (in %), 2022
Figure 6: Global: Low Cost Airlines Market: Breakup by Destination (in %), 2022
Figure 7: Global: Low Cost Airlines Market: Breakup by Region (in %), 2022
Figure 8: Global: Low Cost Airlines (Leisure Travel) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Low Cost Airlines (Leisure Travel) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Low Cost Airlines (VFR) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Low Cost Airlines (VFR) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Low Cost Airlines (Business Travel) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Low Cost Airlines (Business Travel) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Low Cost Airlines (Other Purposes) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Low Cost Airlines (Other Purposes) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Low Cost Airlines (Online) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Low Cost Airlines (Online) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Low Cost Airlines (Travel Agency) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Low Cost Airlines (Travel Agency) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Low Cost Airlines (Other Distribution Channels) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Low Cost Airlines (Other Distribution Channels) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Low Cost Airlines (Domestic) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Low Cost Airlines (Domestic) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Low Cost Airlines (International) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Low Cost Airlines (International) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: North America: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: North America: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: United States: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: United States: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Canada: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Canada: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: Asia-Pacific: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: Asia-Pacific: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: China: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: China: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Japan: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Japan: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: India: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: India: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: South Korea: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: South Korea: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: Australia: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: Australia: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: Indonesia: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: Indonesia: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Others: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Others: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Europe: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Europe: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: Germany: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: Germany: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: France: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: France: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: United Kingdom: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: United Kingdom: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: Italy: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: Italy: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: Spain: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: Spain: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Russia: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Russia: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Others: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Others: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Latin America: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Latin America: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Brazil: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Brazil: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Mexico: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Mexico: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Others: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Others: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: Middle East and Africa: Low Cost Airlines Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: Middle East and Africa: Low Cost Airlines Market: Breakup by Country (in %), 2022
Figure 74: Middle East and Africa: Low Cost Airlines Market Forecast: Sales Value (in Million US$), 2023-2028
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
Table 1: Global: Low Cost Airlines Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Low Cost Airlines Market Forecast: Breakup by Purpose (in Million US$), 2023-2028
Table 3: Global: Low Cost Airlines Market Forecast: Breakup by Distribution Channel (in Million US$), 2023-2028
Table 4: Global: Low Cost Airlines Market Forecast: Breakup by Destination (in Million US$), 2023-2028
Table 5: Global: Low Cost Airlines Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Low Cost Airlines Market: Competitive Structure
Table 7: Global: Low Cost Airlines Market: Key Players
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