Full Service Airlines Market Analysis by Region, Key Trends, Deals and Company Profiles

Full Service Airlines Market Analysis by Region, Key Trends, Deals and Company Profiles

Summary

GlobalData’s Full Service Airlines market report provides in-depth analysis of the key market trends that are shaping the future of this segment and an analysis of the full service airline market globally. Detailed market insight is provided on the Americas, Asia-Pacific, Middle East, Africa, and Europe. It also features profiles of some of the segment’s leading players and looks at how companies can better meet their customers' needs. It also assesses the impact of COVID-19 on the industry.

Key Highlights

Due to the COVID-19 pandemic, the FSC revenue was negatively impacted due to travel restrictions, with various countries worldwide imposing lockdowns and travel restrictions. Due to the COVID-19 impact, Global FSC revenue reached $223.97 billion during 2020 and started recovering in 2021, to reach $327.04 billion as various countries started initiation of large-scale vaccination drives to reduce COVID spread. In 2022, revenue was $650.83 billion. However, the revenue is lower than the pre-pandemic level in 2019.

During 2022, growth in air passenger traffic stimulates growth in the full-service carrier market, due to which the load factor has reached 77.71%. As per GlobalData, it is expected that the load factor is expected to reach its pre-pandemic level in 2024 (82.80%) and to reach 83.63% in 2027.

During 2022, the number of seats sold for leisure purposes in Africa was 53.29 million, which contributed 88.99% of Africa’s FSC seats sold, followed by business purposes with a contribution of 11.01% (6.59 million). However, the number of seats sold was lower than the pre-pandemic level.

In 2022, the number of FSC seats sold globally hit 2,592.35 million, which increased by 822.87 million in comparison with 2021. However, the number of seats sold in 2022 remained lower than the pre-pandemic level. As per GlobalData, it is expected that the global FSC seats sold will reach 4,844.56 million in 2027, with a CAGR of 13.32% from 2022 to 2027.

Reasons to Buy

• Understand the impact of COVID-19 on this market
• Gauge which are the biggest and most promising regional markets for the FSC market
• Understand the demand-side dynamics within the industry to identify key trends and growth opportunities
• Gain an understanding of the outlook for regional markets and learn from existing successes and our recommendations.