Press release
Low Cost Airlines Market is Expected to Cross US$ 315.4 Billion by 2028, Growth Rate (CAGR) of 8.7% | IMARC Group
Low Cost Airlines Market 2023-2028
Report Highlights
How Big is the Low Cost Airlines Market?
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.
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What are Low Cost Airlines?
Low-cost airlines are airlines that offer air travel at lower fares as compared to traditional full-service carriers. They typically focus on providing a no-frills, basic service, where passengers pay only for the essentials, such as the flight ticket and carry-on baggage. They are known for their cost-saving measures, such as flying to secondary airports, utilizing point-to-point routes, and operating a single aircraft type to reduce maintenance costs. They offer various fare options, allowing travelers to adjust their travel plans based on their budget and needs.
What are the growth prospects and trends in the low cost airlines industry?
The increasing desire among individuals for leisure travel and weekend getaways on account of rapid urbanization, growing global population, and inflating income levels represent one of the primary factors driving the demand for low cost airline options around the world.
In addition, the rising inclination towards online booking platforms and mobile apps that has made it easier for customers to compare prices and find affordable airfares is favoring the growth of the market.
Apart from this, the growing adoption of low cost airlines due to its numerous advantages, including focus on direct routes and allow passengers to choose and pay only for the services they need, such as baggage, meals, and seat selection, is influencing the market positively.
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The report has segmented the market on the basis of region, 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
Who are the key players operating in the industry?
The report covers the major market players including:
• 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.
• WestJet Airlines Ltd.
If you want latest primary and secondary data (2023-2028) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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