Global Low-Cost Carrier Market 2023-2027

Global Low-Cost Carrier Market 2023-2027

Technavio has been monitoring the low-cost carrier market and is forecast to grow by $248.65 bn during 2022-2027, decelerating at a CAGR of 15.15% during the forecast period. Our report on the low-cost carrier market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increase in air passenger traffic, rising demand for air cargo, and creation of new air routes to tap market potential.

Technavio's low-cost carrier market is segmented as below:

By Service

• Passenger service
• Cargo service

By Type

• Narrow body
• Wide body

By Geography

• APAC
• North America
• Europe
• Middle East and Africa
• South America

This study identifies the rising preference for smart airports as one of the prime reasons driving the low-cost carrier market growth during the next few years. Also, the growing demand for luxury air travel and increasing penetration of blockchain in airlines industry will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the low-cost carrier market covers the following areas:

• Low-cost carrier market sizing
• Low-cost carrier market forecast
• Low-cost carrier market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading low-cost carrier market vendors that include Air Arabia PJSC, Air Canada, Capital A Berhad, Cebu Pacific, Deutsche Lufthansa AG, easyJet Airline Co. Ltd., Fly LEVEL SL, InterGlobe Aviation Ltd., Jet2 Plc, Lion Air, Norwegian Air Shuttle ASA, PAL Holdings Inc., Pegasus Air Transport Corp., PT Garuda Indonesia (Persero) Tbk., Qantas Airways Ltd., Ryanair DAC, Singapore Airlines Ltd., Southwest Airlines Co., Vueling Airlines SA, and WestJet Airlines Ltd. Also, the low-cost carrier market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.