Farmington, Jan. 09, 2023 (GLOBE NEWSWIRE) -- The Global Low-Cost Airlines Market was valued USD 190.54 Billion in 2022 is projected to reach US$ 302.85 Billion by 2030, growing at a CAGR of 9.87% from 2022 to 2030. The market is growing because the economy is getting stronger, travel is getting easier, the travel and tourism industry is growing, people are moving to cities, their lifestyles are changing, they want low-cost services that run frequently and don't stop, and their purchasing power is going up, especially in developing countries. High internet use and electronic literacy, and a lot of middle-class households. But things like unstable crude oil prices, more terrorism and crime, political unpredictability, and natural disasters are slowing the growth of the market. On the other hand, improvements in airport governance, operations, and finances should take advantage of the growth of the low-cost airline market.
Request Sample Copy of Report “Low Cost Airlines Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030”, published by Contrive Datum Insights.
Recent Developments:
- In September 2022 – AirAsia Skytrax has been named the world's best low-cost airline for the 13th consecutive year at the World Airline Awards 2022. Considered the global benchmark for airline excellence, the Skytrax World Airline Awards 2022 is determined by a survey of 14.3 million customers from over 100 nationalities reviewing over 300 airlines from September 2021 to August 2022.
Low-cost airlines are also available online. This is because operators can save money by buying tickets for more than one flight at the same time. Using a cheap airline can save you both time and money on your trip.
Leisure travel is the most common type of cheap airline booking for people who want to take a short trip or get away for the weekend. Some people think of leisure travel as a vacation, but it also includes business travel, visiting friends and family, and going to cultural events like concerts and sports games.
Regional Outlook:
In 2021, the market for low-cost airlines was biggest in North America. This area is growing because more people have money to spend and more people want convenience and comfort. North America had the largest share of the market in 2021, but Asia-Pacific is expected to grow the most over the next few years because there will be more flights run by low-cost carriers. This area is growing because more people have money to spend and more people want convenience and comfort.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | 9.87% from 2023 to 2030 |
| Revenue Forecast by 2030 | US$ 302.85 Billion |
| By Type | Leisure Travel, VFR, Business Travel, Others |
| By Applications | Online, Travel Agency, Other |
| By Destination | Domestic, International, Others |
| By Companies | AirAsia Berhad, Virgin, Norwegian Air Shuttle, EasyJet, Jetstar Airways, WestJet Airlines, Indigo, Azul Linhas Areas Brasileiras, Ryanair Holdings, Air Arabia PJSC |
| Base Year | 2022 |
| Historical Year | 2017 to 2021 |
| Forecast Year | 2023 to 2030 |
Market Drivers:
The global low-cost airline market is growing because more people are flying, disposable income is going up in emerging economies, technology is getting better, and more people want to travel. More flights are available in many parts of the world because tourism is getting bigger.
Market Opportunity:
The number of low-cost airlines is growing at a very fast rate. With the rise of social media and its ability to bring people together, it's not surprising that a lot of people want to fly on low-cost airlines. Low-cost airlines are great for people who want to travel but don't have a lot of money.
Key Segments Covered:
Top Market Players:
AirAsia Berhad, Virgin, Norwegian Air Shuttle, EasyJet, Jetstar Airways, WestJet Airlines, Indigo, Azul Linhas Areas Brasileiras, Ryanair Holdings, Air Arabia PJSC, And Others.
By Type:
- Leisure Travel
- VFR
- Business Travel
- Others
By Application:
- Online
- Travel Agency
- Other
By Destination:
- Domestic
- International
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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