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Global Low-Cost Carrier Market Size Study & Forecast, by Aircraft Type (Narrow Body, Wide Body, Others) By Destination (Domestic, International) By Haul (Long Haul, Short Haul) and Regional Analysis, 2023-2030

April 2024 | 200 pages | ID: G0DD3CFBE10CEN
Bizwit Research & Consulting LLP

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Global Low-Cost Carrier Market is valued at approximately USD xx billion in 2022 and is anticipated to grow with a healthy growth rate of more than 10% over the forecast period 2023-2030. Low-Cost Carrier is an airline that offers budget-friendly air travel by employing a simplified business model focused on reducing operational costs. These airlines typically provide no-frills services, charging passengers for additional amenities such as checked baggage, in-flight meals, and seat selection. The Low-Cost Carrier market is expanding because of factors such as the rising air passenger traffic and the growing rate of urbanization. LCCs often operate point-to-point routes rather than hub-and-spoke networks, allowing for quicker turnaround times and increased aircraft utilization. As a result, the demand of Low-Cost Carrier has progressively increased in the global market during the forecast period 2023-2030.

Low-Cost Carrier typically focus on providing affordable air travel options for budget-conscious travelers and the growing number of air traffic encourages low-cost carrier to expand their route networks to serve more destinations, which allows them to cover major regions, thereby increasing their overall market presence. According to Statista, the global number of scheduled passengers boarded by the airline industry accounted for 2185 million in 2021 and reached up to 3781 million in 2022. Furthermore, LCCs often stimulate demand by offering affordable fares that make air travel accessible to a broader demographic. Another important factor that drives the Low-Cost Carrier market is the rapid rate of urbanization. Urbanization promotes the development of transportation infrastructure, such as airports and similar facilities, which allows LCCs to open new routes and expand their network, meeting the growing demand for low-cost air travel. In addition, as per Statista, the global urbanization rate was 57% in 2022. North America has the highest amount of urbanization, with more than four-fifths of the population living in cities. Moreover, technological advancements associated with low-cost carriers and the expansion of international airline routes are anticipated to create a lucrative growth opportunity for the market over the forecast period. However, highly competitive pricing and low marginal profit are going to impede overall market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Low-Cost Carrier Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the growing rate of urbanization in the region. Urbanization drives the need for infrastructure development, including airports. Governments and private investors often invest in expanding existing airports or building new ones to accommodate the growing number of passengers. This expansion creates opportunities for LCCs to increase their route networks and operate from more airports, enhancing their accessibility to urban populations. The region’s dominant performance is anticipated to propel the overall demand of Low-Cost Carrier. Furthermore, Asia Pacific is expected to grow fastest during the forecast period, owing to factors such as increasing air passenger traffic in the region. Increased passenger traffic could stimulate competition among airlines, leading to fare wars and promotional offers. LCCs, known for their cost-efficient operations, are often well-positioned to capitalize on such opportunities and attract price-sensitive travelers.

Major market players included in this report are:

AirAsia India Limited

Ryanair Holdings plc

InterGlobe Aviation Limited

Scoot Pte Ltd.

Southwest Airlines Co.

Eurowings GmbH

Virgin Australia Airlines Pty Ltd.

JetBlue Airways Corporation

Wizz Air Hungary Ltd.

Spirit Airlines, Inc.

Recent Developments in the Market:
  • In May 2023, Singapore Airlines' Scoot has agreed to employ Embraer's E190-E2 to extend its fleet, as the low-cost carrier. It aims to expand its position in Southeast Asia. Scoot has become the first Singaporean airline to operate nine new E2 commercial jets from the lessor company's existing Embraer backlog after signing a lease agreement with Azorra.
Global Low-Cost Carrier Market Report Scope:
  • Historical Data – 2020 - 2021
  • Base Year for Estimation – 2022
  • Forecast period - 2023-2030
  • Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
  • Segments Covered - Aircraft Type, Destination, Haul, Region
  • Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
  • Customization Scope - Free report customization (equivalent to up to 8 analysts’ working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters to detailed information about the crucial aspects such as driving factors & challenges that will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Aircraft Type

Narrow Body

Wide Body

Others

By Destination

Domestic

International

By Haul

Long Haul

Short Haul

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Middle East & Africa

Saudi Arabia

South Africa

Rest of Middle East & Africa
CHAPTER 1. EXECUTIVE SUMMARY

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
  1.2.1. Low-Cost Carrier Market, by Region, 2020-2030 (USD Billion)
  1.2.2. Low-Cost Carrier Market, by Aircraft Type, 2020-2030 (USD Billion)
  1.2.3. Low-Cost Carrier Market, by Destination, 2020-2030 (USD Billion)
  1.2.4. Low-Cost Carrier Market, by Haul, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

CHAPTER 2. GLOBAL LOW-COST CARRIER MARKET DEFINITION AND SCOPE

2.1. Objective of the Study
2.2. Market Definition & Scope
  2.2.1. Industry Evolution
  2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

CHAPTER 3. GLOBAL LOW-COST CARRIER MARKET DYNAMICS

3.1. Low-Cost Carrier Market Impact Analysis (2020-2030)
  3.1.1. Market Drivers
    3.1.1.1. Rising Air Passenger Traffic
    3.1.1.2. Rapid Rate of Urbanization
  3.1.2. Market Challenges
    3.1.2.1. Highly Competitive Pricing
    3.1.2.2. Low Marginal Profit
  3.1.3. Market Opportunities
    3.1.3.1. Technological Advancements Associated with Low-Cost Carrier
    3.1.3.2. Expansion of International Airline Routes

CHAPTER 4. GLOBAL LOW-COST CARRIER MARKET INDUSTRY ANALYSIS

4.1. Porter’s 5 Force Model
  4.1.1. Bargaining Power of Suppliers
  4.1.2. Bargaining Power of Buyers
  4.1.3. Threat of New Entrants
  4.1.4. Threat of Substitutes
  4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
  4.3.1. Political
  4.3.2. Economical
  4.3.3. Social
  4.3.4. Technological
  4.3.5. Environmental
  4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion

CHAPTER 5. GLOBAL LOW-COST CARRIER MARKET, BY AIRCRAFT TYPE

5.1. Market Snapshot
5.2. Global Low-Cost Carrier Market by Aircraft Type, Performance - Potential Analysis
5.3. Global Low-Cost Carrier Market Estimates & Forecasts by Aircraft Type 2020-2030 (USD Billion)
5.4. Low-Cost Carrier Market, Sub Segment Analysis
  5.4.1. Narrow Body
  5.4.2. Wide Body
  5.4.3. Others

CHAPTER 6. GLOBAL LOW-COST CARRIER MARKET, BY DESTINATION

6.1. Market Snapshot
6.2. Global Low-Cost Carrier Market by Destination, Performance - Potential Analysis
6.3. Global Low-Cost Carrier Market Estimates & Forecasts by Destination 2020-2030 (USD Billion)
6.4. Low-Cost Carrier Market, Sub Segment Analysis
  6.4.1. Domestic
  6.4.2. International

CHAPTER 7. GLOBAL LOW-COST CARRIER MARKET, BY HAUL

7.1. Market Snapshot
7.2. Global Low-Cost Carrier Market by Haul, Performance - Potential Analysis
7.3. Global Low-Cost Carrier Market Estimates & Forecasts by Haul 2020-2030 (USD Billion)
7.4. Low-Cost Carrier Market, Sub Segment Analysis
  7.4.1. Long Haul
  7.4.2. Short Haul

CHAPTER 8. GLOBAL LOW-COST CARRIER MARKET, REGIONAL ANALYSIS

8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Low-Cost Carrier Market, Regional Market Snapshot
8.4. North America Low-Cost Carrier Market
  8.4.1. U.S. Low-Cost Carrier Market
    8.4.1.1. Aircraft Type breakdown estimates & forecasts, 2020-2030
    8.4.1.2. Destination breakdown estimates & forecasts, 2020-2030
    8.4.1.3. Haul breakdown estimates & forecasts, 2020-2030
  8.4.2. Canada Low-Cost Carrier Market
8.5. Europe Low-Cost Carrier Market Snapshot
  8.5.1. U.K. Low-Cost Carrier Market
  8.5.2. Germany Low-Cost Carrier Market
  8.5.3. France Low-Cost Carrier Market
  8.5.4. Spain Low-Cost Carrier Market
  8.5.5. Italy Low-Cost Carrier Market
  8.5.6. Rest of Europe Low-Cost Carrier Market
8.6. Asia-Pacific Low-Cost Carrier Market Snapshot
  8.6.1. China Low-Cost Carrier Market
  8.6.2. India Low-Cost Carrier Market
  8.6.3. Japan Low-Cost Carrier Market
  8.6.4. Australia Low-Cost Carrier Market
  8.6.5. South Korea Low-Cost Carrier Market
  8.6.6. Rest of Asia Pacific Low-Cost Carrier Market
8.7. Latin America Low-Cost Carrier Market Snapshot
  8.7.1. Brazil Low-Cost Carrier Market
  8.7.2. Mexico Low-Cost Carrier Market
8.8. Middle East & Africa Low-Cost Carrier Market
  8.8.1. Saudi Arabia Low-Cost Carrier Market
  8.8.2. South Africa Low-Cost Carrier Market
  8.8.3. Rest of Middle East & Africa Low-Cost Carrier Market

CHAPTER 9. COMPETITIVE INTELLIGENCE

9.1. Key Company SWOT Analysis
  9.1.1. Company
  9.1.2. Company
  9.1.3. Company
9.2. Top Market Strategies
9.3. Company Profiles
  9.3.1. AirAsia India Limited
    9.3.1.1. Key Information
    9.3.1.2. Overview
    9.3.1.3. Financial (Subject to Data Availability)
    9.3.1.4. Product Summary
    9.3.1.5. Recent Developments
  9.3.2. Ryanair Holdings plc
  9.3.3. InterGlobe Aviation Limited
  9.3.4. Scoot Pte Ltd
  9.3.5. Southwest Airlines Co.
  9.3.6. Eurowings GmbH
  9.3.7. Virgin Australia Airlines Pty Ltd
  9.3.8. JetBlue Airways Corporation
  9.3.9. Wizz Air Hungary Ltd
  9.3.10. Spirit Airlines, Inc

CHAPTER 10. RESEARCH PROCESS

10.1. Research Process
  10.1.1. Data Mining
  10.1.2. Analysis
  10.1.3. Market Estimation
  10.1.4. Validation
  10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

12 .LIST OF TABLES

TABLE 1. Global Low-Cost Carrier Market, report scope
TABLE 2. Global Low-Cost Carrier Market estimates & forecasts by Region 2020-2030 (USD Billion)
TABLE 3. Global Low-Cost Carrier Market estimates & forecasts by Aircraft Type 2020-2030 (USD Billion)
TABLE 4. Global Low-Cost Carrier Market estimates & forecasts by Destination 2020-2030 (USD Billion)
TABLE 5. Global Low-Cost Carrier Market estimates & forecasts by Haul 2020-2030 (USD Billion)
TABLE 6. Global Low-Cost Carrier Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 7. Global Low-Cost Carrier Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 8. Global Low-Cost Carrier Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 9. Global Low-Cost Carrier Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 10. Global Low-Cost Carrier Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 11. Global Low-Cost Carrier Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 12. Global Low-Cost Carrier Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 13. Global Low-Cost Carrier Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 14. Global Low-Cost Carrier Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 15. Global Low-Cost Carrier Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 16. U.S. Low-Cost Carrier Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 17. U.S. Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 18. U.S. Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 19. Canada Low-Cost Carrier Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 20. Canada Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 21. Canada Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 22. UK Low-Cost Carrier Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 23. UK Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 24. UK Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 25. Germany Low-Cost Carrier Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 26. Germany Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 27. Germany Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 28. France Low-Cost Carrier Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 29. France Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 30. France Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 31. Italy Low-Cost Carrier Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 32. Italy Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 33. Italy Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 34. Spain Low-Cost Carrier Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 35. Spain Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 36. Spain Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 37. RoE Low-Cost Carrier Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 38. RoE Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 39. RoE Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 40. China Low-Cost Carrier Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 41. China Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 42. China Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 43. India Low-Cost Carrier Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 44. India Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 45. India Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 46. Japan Low-Cost Carrier Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 47. Japan Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 48. Japan Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 49. South Korea Low-Cost Carrier Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 50. South Korea Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 51. South Korea Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 52. Australia Low-Cost Carrier Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 53. Australia Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 54. Australia Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 55. RoAPAC Low-Cost Carrier Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 56. RoAPAC Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 57. RoAPAC Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 58. Brazil Low-Cost Carrier Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 59. Brazil Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 60. Brazil Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 61. Mexico Low-Cost Carrier Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 62. Mexico Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 63. Mexico Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 64. RoLA Low-Cost Carrier Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 65. RoLA Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 66. RoLA Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 67. Saudi Arabia Low-Cost Carrier Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 68. South Africa Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 69. RoMEA Low-Cost Carrier Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 70. List of secondary sources, used in the study of global Low-Cost Carrier Market
TABLE 71. List of primary sources, used in the study of global Low-Cost Carrier Market
TABLE 72. Years considered for the study
TABLE 73. Exchange rates considered
List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

FIG 1. Global Low-Cost Carrier Market, research methodology
FIG 2. Global Low-Cost Carrier Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global Low-Cost Carrier Market, key trends 2022
FIG 5. Global Low-Cost Carrier Market, growth prospects 2023-2030
FIG 6. Global Low-Cost Carrier Market, porters 5 force model
FIG 7. Global Low-Cost Carrier Market, pest analysis
FIG 8. Global Low-Cost Carrier Market, value chain analysis
FIG 9. Global Low-Cost Carrier Market by segment, 2020 & 2030 (USD Billion)
FIG 10. Global Low-Cost Carrier Market by segment, 2020 & 2030 (USD Billion)
FIG 11. Global Low-Cost Carrier Market by segment, 2020 & 2030 (USD Billion)
FIG 12. Global Low-Cost Carrier Market by segment, 2020 & 2030 (USD Billion)
FIG 13. Global Low-Cost Carrier Market by segment, 2020 & 2030 (USD Billion)
FIG 14. Global Low-Cost Carrier Market, regional snapshot 2020 & 2030
FIG 15. North America Low-Cost Carrier Market 2020 & 2030 (USD Billion)
FIG 16. Europe Low-Cost Carrier Market 2020 & 2030 (USD Billion)
FIG 17. Asia Pacific Low-Cost Carrier Market 2020 & 2030 (USD Billion)
FIG 18. Latin America Low-Cost Carrier Market 2020 & 2030 (USD Billion)
FIG 19. Middle East & Africa Low-Cost Carrier Market 2020 & 2030 (USD Billion)
List of tables and figures and dummy in nature, final lists may vary in the final deliverable


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