Global Low-Cost Airline Market to Record Protruding Growth with 168,704.1 Million USD By the End of 2027

December 2021 | Report Format: Electronic (PDF)

The low-cost carrier industry is being pushed mostly by an increased preference for LCCs over FSCs in developing markets. Furthermore, high aircraft utilization, internet booking, usage of subsequent airports, cheaper wage scales, minimum cabin staff, lower rates of unionization with workers, one class of seats, and fast ground turn-around time are few of the reasons driving industry expansion. Furthermore, increased commercial activity, the convenience of travel, travel and tourist sector, urbanization, lifestyle changes, unanticipated increase in spending power of middle-class families in emerging areas, and fast broadband discernment along with e-literacy are propelling market expansion.

While many people lamented the drop in quality, the complaint numbers was not unusually high in comparison to the larger number of air travelers. This was due to a significant decline in airfares when inflation was factored in. Consumers have always understood that the users according to payment. The majority of air travelers welcomed inexpensive tickets for little or no air travel as a deal. Those who yearned for the glory days of flying could always upgrade to first class for a higher price.

LCCs have benefited from the widespread acceptance of ticketless flying and Internet distribution. It reduces the need for traditional airlines' expensive and sophisticated ticketing systems to manage their complex pricing schemes. The internet's introduction as the major medium for ordering tickets has significantly boosted ticket pricing transparency. 

Between 1990 and 2020, the low-cost airline's revolution swept the globe. LCCs arrived in Europe in the 1990s and the Asia Pacific in the 2000s. Most nations still have flagship government airlines. During the coronavirus outbreak, Italy even renationalized Alitalia. For years, low-cost airlines have been making gains. However, the high stress of coping with the coronavirus threatens their survival, particularly in newer markets.

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Low-Cost Airline Market Report Highlights

• During the projection period, Asia Pacific is expected to grow at the fastest CAGR. Increasing air passenger volume in China, India, Malaysia, and Indonesia is driving LCC airline companies to boost their investments in this area.
• IndiGo, one of Asia's largest budget carriers, is considering charging customers for checked-in bags in November 2021, as the company prepares for a potentially intense pricing competition in India's competitive air travel sector, which is exhibiting signs of recovery after the worst of Covid.

LOW-COST AIRLINE MARKET SEGMENTATION

The research report published by Market Research Strategy contains industry segments, as below-

Low-Cost Airline Aircraft Type Outlook (Revenue, USD Million, 2016 - 2027)

• Narrow-body aircraft
• Wide-body aircraft

Low-Cost Airline Operation Outlook (Revenue, USD Million, 2016 - 2027)

• International
• Domestic

Low-Cost Airline Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)

• Online
• Travel Agency
• Others

Low-Cost Airline Regional Outlook (Revenue, USD Million, 2016 - 2027)

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • South Africa

List of Key Players- Low-Cost Airline Market

• WestJet Airlines Ltd
• Spirit Airlines, Inc.
• SpiceJet Limited
• Southwest Airlines Co.
• Ryanair Holdings plc
• Qantas Airways Limited (Jetstar Airways Pty Ltd.)
• Norwegian Air Shuttle ASA
• NewWorldAir Holdings, Inc.(Indigo, LLC)
• IndiGo
• easyJet plc
• Azul S.A. (Azul Linhas Aéreas Brasileiras S.A.)
• Alaska Air Group, Inc. (Virgin America Inc.)
• AirAsia Berhad
• Air Arabia PJSC
• Go First

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