Dublin, May 30, 2023 (GLOBE NEWSWIRE) -- The "Global Low Cost Airlines Market Size, Trends & Growth Opportunity By Destination, By Purpose, By Distribution Channel, By Region and Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global low-cost airline market was valued at USD 10987.2 million in 2021 which is expected to reach USD 18,789 million by 2027 at a CAGR of 9.52% from 2022-2027.
Companies Mentioned
- Airasia Inc
- Air Arabia PJSC
- Ryanair Holdings plc
- Azul Linhas Areas Brasileiras S.A.
- Indigo LLC
- WestJet Airlines Ltd.
- Jetstar Airways Pty Ltd.
- easyJet plc
- Norwegian Air Shuttle As
- Virgin America
Low-cost airlines, often known as passenger airlines, offer travel tickets at a lower cost than other airlines. It is also known as a "frills" airline, a "low-cost carrier," a "prizefighter," a "budget airline," or a bargain airline. The low-cost airline concept incorporates a simple pricing structure and a pricing strategy that covers both offline and online ticket booking.
Market Drivers
The primary driving factors that are projected to promote the global low cost airline market's growth include an increase in economic activity, ease of travel, lifestyle changes, urbanisation, and the travel and tourism industry.
Furthermore, the rising purchasing power of middle-class consumers in developing regions will boost market growth. Furthermore, increased internet penetration combined with e-literacy is likely to fuel the low-cost airline industry's growth.
Market Restraints
However, volatile crude oil costs, rising terrorism and crime rates, and natural disasters are restricting factors that are likely to stymie global low-cost airless market growth.
Market Segmentation
By Destination
- Domestic
- International
By Purpose
- VFR
- Business Travel
- Leisure Travel
- Others
By Distribution Channel
- Travel agency
- Online
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/abc0e7
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
