Low Cost Carrier Airlines Market Size and Forecast, Key Trends, Company Profiles, 2021-2025

Low Cost Carrier Airlines Market Size and Forecast, Key Trends, Company Profiles, 2021-2025

Summary

GlobalData’s Low Cost Airline Market report provides in-depth analysis of the key market trends that are shaping the future of this segment and an analysis of the low cost 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.

Key HighlightsIn 2021, the US continued to be the number one low-cost carrier (LCC) market in terms of seats sold. With 212.3 million seats sold in 2021, the number of passengers carried had a huge jump from 2020 with a growth rate of 83.8% year-over-year (YoY) and a recovery to pre-pandemic levels of 77.6%.Post-COVID recovery of the airline sector is likely to be led by LCCs. The operational responsiveness and cost-cutting measures have helped the LCCs address the sudden increase in demand when the travel restrictions were eased. With more travelers opting for affordability over luxury, the LCCs are at an advantage. The point-to-point route operations adopted by the LCCs are making the scale-up process easy and quick as the demand is restored.Though the aviation sector faced severe losses during the pandemic, it did not stop startup airlines from commencing their operations. The LCC sector witnessed the launch of new airlines, and few are yet to be launched. Between January 2020 and September 2022, more than 17 LCC startups commenced their operations and, more than seven are in the pipeline. Existing airlines had to cut down several aircrafts and minimize their workforce during the pandemic, leaving the newcomers at an advantage of entering the market by buying those aircrafts and hiring experienced aviation employees at a cheaper rate. The existing players also had to reduce the number of routes to save money, which gave the newcomers an edge.ScopeGlobalData’s Low Cost Airline Market report provides in-depth analysis of the key market trends that are shaping the future of this segment and an analysis of the low cost 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.Reasons to BuyUnderstand the impact of COVID-19 on this marketGauge which are the biggest and most promising regional markets for the low cost airlines marketUnderstand the demand-side dynamics within the industry to identify key trends and growth opportunitiesGain an understanding of the outlook for regional markets and learn from existing successes and our recommendations.