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By 2023, the Low-Cost Carrier (LCC) Industry had grown to a value of $150.12B. With a predicted CAGR (compound annual growth rate) of 18.30% from 2024 to 2031, the Low-Cost Carrier (LCC) Market is expected to expand from $174.6828 billion in 2024 to $432.2429671 billion in 2031. Key industry drivers promoting market growth include rising demand for air travel and government measures to promote regional connectivity.
You can get lower tickets but less comfort with low-cost airlines because they don't provide the typical services that are generally included in the ticket price. When compared to other types of airlines, low-cost ones have significantly reduced operational costs. Companies in this industry offer cheap tickets to attract customers, but they make up for it by charging more for services like priority boarding, food, baggage, and seat assignment. Another reason why crew training isn't as extensive at low-cost airlines is that many of them fly just one model of aircraft. Some planes opt to arrive at less busy airports in densely populated locations in order to save money.
A number of factors, including rising incomes, more accessibility, a booming tourist sector, the fast commercialization of cities, shifting consumer tastes, and the need for affordable, non-aviation services, have contributed to the meteoric rise of low-cost airlines over the past few years. Similarly, low-cost carriers (LCC) provide consumers with additional leeway to change or cancel their travels, which is a response to the rise of last-minute bookings and the unpredictability of foreign travel. We expect these factors to play a role in the growth of the low-cost carrier market throughout the projected period.
An important factor in the expansion of the aviation sector in the Middle East and Africa is the region's one-of-a-kind geographical positioning. By combining traffic and allowing one-stop service on carrier routes, carriers may reach 80% of the world's population in just eight hours of flying time to the Middle East. Government investments in various tourism-related infrastructure projects are speeding up industry expansion over the study period. The vast majority of tourists that go to this region are from Western Europe and the United States. Aside from having some of the world's tallest buildings and biggest retail malls as well as islands and an abundance of services, the Middle East is a major player in the aviation sector and a popular tourism destination.
In order to accommodate the increasing number of domestic passengers, Indian airline firms want to add new planes to their fleet. The Indian domestic market had the quickest full-year growth rate, with demand increasing by 18.6% per annum, as reported by the IATA. We reached a purchase agreement in March 2018 with Jet Airways. 75 brand new Boeing 737 MAX planes for sale. Also, 60 more planes are on the way to Vistara. An additional 450 planes will be bought by Indigo.
A key factor fueling the market's expansion is the relatively low maintenance cost of aircraft operated by low-cost carriers. Modern LCC planes are built for fast turnarounds. That implies they can maximize aircraft use and income generation by spending less time on the ground in between trips. Aircraft maintenance costs are reduced, and operational use is increased, due to reduced downtime.
To turn a profit, low-cost airlines depend significantly on other sources of income. On sometimes, airlines lose money when they offer cheap flights. As a result, airlines are looking into ways to make money off of things like checked bags, in-flight meals, and seats sold before the general public. When faced with such enormous overhead costs, several airlines, like GoAir, Jet Airways, Air Sahara, Kingfisher Airlines, and many more, are forced to declare bankruptcy. Restrictive air service agreements (ASAs), high fuel prices, limited networks, and expensive infrastructure are among the major issues that lead to slim profit margins.
Report Coverage
Global Low Cost Carrier research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Low Cost Carrier report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Low Cost Carrier competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Low Cost Carrier market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Low Cost Carrier market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Low Cost Carrier market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
EasyJet Airline Company Limited (UK), AirAsia Berhad (Malaysia), JetBlue Airways Corporation (US), IndiGo (India), Ryanair DAC (Ireland), Norwegian Air Shuttle ASA (Norway), SpiceJet Limited (India), Southwest Airlines Co (US), WestJet Airlines Ltd (Canada), Spirit Airlines Inc (US)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Low Cost Carrier market based on the below-mentioned segments:
Global Low Cost Carrier Market, By Aircraft Type
Wide-body aircraft
Narrow-body aircraft
Global Low Cost Carrier market, By Distribution Channel
Travel agency
Online channels
Global Low Cost Carrier Market, By Operations
International
Domestic
Global Low Cost Carrier market, Regional Analysis
You can get lower tickets but less comfort with low-cost airlines because they don't provide the typical services that are generally included in the ticket price. When compared to other types of airlines, low-cost ones have significantly reduced operational costs. Companies in this industry offer cheap tickets to attract customers, but they make up for it by charging more for services like priority boarding, food, baggage, and seat assignment. Another reason why crew training isn't as extensive at low-cost airlines is that many of them fly just one model of aircraft. Some planes opt to arrive at less busy airports in densely populated locations in order to save money.
A number of factors, including rising incomes, more accessibility, a booming tourist sector, the fast commercialization of cities, shifting consumer tastes, and the need for affordable, non-aviation services, have contributed to the meteoric rise of low-cost airlines over the past few years. Similarly, low-cost carriers (LCC) provide consumers with additional leeway to change or cancel their travels, which is a response to the rise of last-minute bookings and the unpredictability of foreign travel. We expect these factors to play a role in the growth of the low-cost carrier market throughout the projected period.
An important factor in the expansion of the aviation sector in the Middle East and Africa is the region's one-of-a-kind geographical positioning. By combining traffic and allowing one-stop service on carrier routes, carriers may reach 80% of the world's population in just eight hours of flying time to the Middle East. Government investments in various tourism-related infrastructure projects are speeding up industry expansion over the study period. The vast majority of tourists that go to this region are from Western Europe and the United States. Aside from having some of the world's tallest buildings and biggest retail malls as well as islands and an abundance of services, the Middle East is a major player in the aviation sector and a popular tourism destination.
In order to accommodate the increasing number of domestic passengers, Indian airline firms want to add new planes to their fleet. The Indian domestic market had the quickest full-year growth rate, with demand increasing by 18.6% per annum, as reported by the IATA. We reached a purchase agreement in March 2018 with Jet Airways. 75 brand new Boeing 737 MAX planes for sale. Also, 60 more planes are on the way to Vistara. An additional 450 planes will be bought by Indigo.
A key factor fueling the market's expansion is the relatively low maintenance cost of aircraft operated by low-cost carriers. Modern LCC planes are built for fast turnarounds. That implies they can maximize aircraft use and income generation by spending less time on the ground in between trips. Aircraft maintenance costs are reduced, and operational use is increased, due to reduced downtime.
To turn a profit, low-cost airlines depend significantly on other sources of income. On sometimes, airlines lose money when they offer cheap flights. As a result, airlines are looking into ways to make money off of things like checked bags, in-flight meals, and seats sold before the general public. When faced with such enormous overhead costs, several airlines, like GoAir, Jet Airways, Air Sahara, Kingfisher Airlines, and many more, are forced to declare bankruptcy. Restrictive air service agreements (ASAs), high fuel prices, limited networks, and expensive infrastructure are among the major issues that lead to slim profit margins.
Report Coverage
Global Low Cost Carrier research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Low Cost Carrier report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Low Cost Carrier competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Low Cost Carrier market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2031 |
| Base Year | 2023 |
| Forecast Period | 2023-2031 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | EasyJet Airline Company Limited (UK), AirAsia Berhad (Malaysia), JetBlue Airways Corporation (US), IndiGo (India), Ryanair DAC (Ireland), Norwegian Air Shuttle ASA (Norway), SpiceJet Limited (India), Southwest Airlines Co (US), WestJet Airlines Ltd (Canada), Spirit Airlines Inc (US) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Low Cost Carrier Market from 2021 to 2031.
- Market Forecast for Low Cost Carrier Market from 2021 to 2031.
- Regional Market Share and Revenue from 2021 to 2031.
- Country Market share within region from 2021 to 2031.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Low Cost Carrier competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Low Cost Carrier
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Low Cost Carrier market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Low Cost Carrier market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
EasyJet Airline Company Limited (UK), AirAsia Berhad (Malaysia), JetBlue Airways Corporation (US), IndiGo (India), Ryanair DAC (Ireland), Norwegian Air Shuttle ASA (Norway), SpiceJet Limited (India), Southwest Airlines Co (US), WestJet Airlines Ltd (Canada), Spirit Airlines Inc (US)
Primary Target Market
- Market Players of Low Cost Carrier
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Low Cost Carrier market based on the below-mentioned segments:
Global Low Cost Carrier Market, By Aircraft Type
Wide-body aircraft
Narrow-body aircraft
Global Low Cost Carrier market, By Distribution Channel
Travel agency
Online channels
Global Low Cost Carrier Market, By Operations
International
Domestic
Global Low Cost Carrier market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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