Insights on the Low Cost Airlines Global Market to 2030 - High Internet Penetration Coupled With E-Literacy Contributes Toward Growth

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Nov 11, 2022, 08:45 ET

DUBLIN, Nov. 11, 2022 /PRNewswire/ -- The "Low Cost Airlines Market By Purpose, By Destination, By Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2016-2030" report has been added to ResearchAndMarkets.com's offering.

The global low cost airlines market was valued at $155.02 billion in 2016, and is projected to reach $440.46 billion by 2030, growing at a CAGR of 10.4% from 2022 to 2030.

Low-cost airline is a passenger carrier, which offers travelling service at relatively affordable and competitive rates as compared to other airlines (full service or traditional airline). low-cost airlines are also known as "no frills airlines," "prizefighters," "low-cost carriers (LCC)," "discount airlines," and "budget airlines." Some of the popular low-cost airlines include Ryanair, EasyJet, Air Asia, and Qantas Airways.

The feasibility of the operation of low-cost airlines is attributed to its low-cost model. This low-cost model can include characteristics such as low pricing strategy, simple pricing structure, involves online & direct ticket booking (eliminating extra ground staff & vendors), preference to secondary airport, point-to-point network, single class seating arrangement, ticket fare may not include extra services (food & beverage), intensive aircraft usage, short turnaround time, dense seating arrangements, and secondary revenue sources (advertisement and onboard selling).

Low-cost airlines have grown exponentially worldwide over the past few years, owing to rise in economic activities, ease of travel, development of the travel & tourism industry, rapid urbanization, changes in lifestyle, consumers' preference for low-cost service along with non-stops, and frequent service.

Moreover, increase in purchasing power of middle-class households, especially in developing regions, and high internet penetration coupled with e-literacy notably contribute toward the growth of the global low-cost airlines market. However, factors such as volatile crude oil prices and increase in terrorism & crime rate, political uncertainty, & natural calamities hinder the market growth. Furthermore, increase in cases of COVID-19 is leading to travel restrictions, which is severely affecting the market.

In addition, factors such high investment & operational cost but low profitability is anticipated to be a major challenge of the low-cost airlines industry. Conversely, sustainable airport governance and operational & financial improvements are anticipated to offer remunerative opportunities for the growth of the low-cost airlines market.

The global low-cost airlines market is segmented into purpose, destination, distribution channel, and region. By purpose, the market is segregated into leisure travel, visiting friends & relatives (VFR), and business travel. Depending on destination, it is bifurcated into domestic and international. On the basis of distribution channel, it is garmented into online and travel agency. The market has been further analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Italy, Spain, Germany, France, Latvia, and rest of Europe), Asia-Pacific (Philippines, Indonesia, Thailand, Singapore, Malaysia, Vietnam, China, India, Australia, and rest of AsiaPacific), and LAMEA (Latin America, Africa, and Middle East).

The major companies profiled in the report include Air Arabia PJSC, AirAsia Group Berhad, Alaska Air Group, Inc., Azul S.A., easyjet Plc, New World Aviation, Inc., Norwegian Air Shuttle ASA, Qantas Airways Limited, Ryanair Holdings Plc., and Westjet Airlines Ltd.

Key Benefits

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the low cost airlines market analysis from 2016 to 2030 to identify the prevailing low cost airlines market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the low cost airlines market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global low cost airlines market trends, key players, market segments, application areas, and market growth strategies.

Key Topics Covered:

CHAPTER 1: INTRODUCTION

CHAPTER 2: EXECUTIVE SUMMARY

CHAPTER 3: MARKET OVERVIEW
3.1.Market definition and scope
3.2.Key findings
3.2.1.Top investment pockets
3.3.Porter's five forces analysis
3.4.Top player positioning
3.5.Market dynamics
3.5.1.Drivers
3.5.2.Restraints
3.5.3.Opportunities
3.6.COVID-19 Impact Analysis on the market
3.7.Market Share Analysis

CHAPTER 4: LOW COST AIRLINES MARKET, BY PURPOSE
4.1 Overview
4.1.1 Market size and forecast
4.2 Leisure Travel
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Vfr
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
4.4 Business Travel
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country
4.5 Others
4.5.1 Key market trends, growth factors and opportunities
4.5.2 Market size and forecast, by region
4.5.3 Market analysis by country

CHAPTER 5: LOW COST AIRLINES MARKET, BY DESTINATION
5.1 Overview
5.1.1 Market size and forecast
5.2 Domestic
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 International
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country

CHAPTER 6: LOW COST AIRLINES MARKET, BY DISTRIBUTION CHANNEL
6.1 Overview
6.1.1 Market size and forecast
6.2 Online
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market analysis by country
6.3 Travel Agency
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market analysis by country
6.4 Others
6.4.1 Key market trends, growth factors and opportunities
6.4.2 Market size and forecast, by region
6.4.3 Market analysis by country

CHAPTER 7: LOW COST AIRLINES MARKET, BY REGION

CHAPTER 8: COMPANY LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Key developments

CHAPTER 9: COMPANY PROFILES
9.1 Air Arabia PJSC
9.1.1 Company overview
9.1.2 Company snapshot
9.1.3 Operating business segments
9.1.4 Product portfolio
9.1.5 Business performance
9.1.6 Key strategic moves and developments
9.2 AirAsia Group Berhad
9.2.1 Company overview
9.2.2 Company snapshot
9.2.3 Operating business segments
9.2.4 Product portfolio
9.2.5 Business performance
9.2.6 Key strategic moves and developments
9.3 Alaska Air Group, Inc.
9.3.1 Company overview
9.3.2 Company snapshot
9.3.3 Operating business segments
9.3.4 Product portfolio
9.3.5 Business performance
9.3.6 Key strategic moves and developments
9.4 Azul S.A.
9.4.1 Company overview
9.4.2 Company snapshot
9.4.3 Operating business segments
9.4.4 Product portfolio
9.4.5 Business performance
9.4.6 Key strategic moves and developments
9.5 easyJet plc
9.5.1 Company overview
9.5.2 Company snapshot
9.5.3 Operating business segments
9.5.4 Product portfolio
9.5.5 Business performance
9.5.6 Key strategic moves and developments
9.6 New World Aviation, Inc.
9.6.1 Company overview
9.6.2 Company snapshot
9.6.3 Operating business segments
9.6.4 Product portfolio
9.6.5 Business performance
9.6.6 Key strategic moves and developments
9.7 Norwegian Air Shuttle ASA
9.7.1 Company overview
9.7.2 Company snapshot
9.7.3 Operating business segments
9.7.4 Product portfolio
9.7.5 Business performance
9.7.6 Key strategic moves and developments
9.8 Qantas Airways Limited
9.8.1 Company overview
9.8.2 Company snapshot
9.8.3 Operating business segments
9.8.4 Product portfolio
9.8.5 Business performance
9.8.6 Key strategic moves and developments
9.9 Ryanair Holdings Plc
9.9.1 Company overview
9.9.2 Company snapshot
9.9.3 Operating business segments
9.9.4 Product portfolio
9.9.5 Business performance
9.9.6 Key strategic moves and developments
9.10 WestJet Airlines Ltd.
9.10.1 Company overview
9.10.2 Company snapshot
9.10.3 Operating business segments
9.10.4 Product portfolio
9.10.5 Business performance
9.10.6 Key strategic moves and developments