MarketResearch.biz announces the publication of its most recently generated research report titled, “Global Low Cost Airlines Market by Product Type (Domestic, and International), Application (Leisure Travel, Business Travel, and Others), and Region – Global Forecast to 2028.”, which offers a holistic view of the global low cost airlines market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2019–2023) is projected to be over US$ 1,264,628 Mn, which is estimated to increase moderately over the latter part of the five-year forecast period.
Low cost airlines provide travel service tickets at an affordable price compared to full service or traditional airlines. Low cost airlines are also known as frills airlines, budget airlines, discount airlines, prizefighters, and low cost carriers (LCC). The American domestic carrier Southwest introduced the concept of low-cost airlines to provide discounted airfares to consumers during the late 1970s. Low cost airlines operation remains the same, which is to provide the lowest price to the customers by undercutting price levels of flagship carriers.
Global Low Cost Airlines Market: Market Dynamics
Rising government focus on infrastructure development along with increasing liberalization is resulting in the rise of operational efficiency and increased investments in low cost airlines, which is estimated to drive the growth of low cost airline market
However, increasing terrorism activities and increasing the prevalence of natural calamities globally is expected to negatively affect the overall travel and tourism industry, thereby harming the global low cost airlines market.
Growth in the external trade globally is resulting in increased demand for cargo services. Thus, it is anticipated that there will be a massive demand for low cost airlines for cargo services, which is another factor estimated to fuel the growth of the global low cost airlines market
Global Low Cost Airlines Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global low cost airlines market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global low cost airlines market is estimated to expand at a CAGR of 8.8% during the forecast period.
Global Low Cost Airlines Market: Segmental Snapshot
The market report has been segmented on the basis of product type, application, and region/country. The product type segment includes domestic and international. The application segment comprises leisure travel, business travel, and others. The region covered in the analysis is North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By product type: The international segment is expected to register a CAGR of over 9.0%, thereby accounting for the highest revenue share among the product type segments.
By application: The leisure travel segment is expected to register a CAGR of over 8.9% over the forecast period, thereby accounting for the highest revenue share among the application segments.
By region: The market in North America accounted for the highest revenue share in the global low cost airlines market in 2018 and is estimated to register a CAGR of over 8.8% between 2019 and 2028.
Global Low Cost Airlines Market: Competitive Analysis
The research report on the global low cost airlines market includes profiles of major companies such as AirAsia Group Berhad, Norwegian Air Shuttle ASA, easyJet plc, Ryanair Holdings plc, Alaska Airlines, Inc., WestJet Airlines Ltd., Qantas Airways Limited, International Consolidated Airlines Group, S.A., Go Airlines (India) Ltd., GOL Linhas Aéreas Inteligentes S.A., SpiceJet Limited, Dubai Aviation Corporation, JetBlue Airways Corporation, Air Arabia PJSC, and Southwest Airlines Co.
The Global Low Cost Airlines Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2019–2028 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global low cost airlines market for 2018–2028.
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