Global Low Cost Carrier (LCC) Market 2023-2029

LCCs have become increasingly popular in recent years, particularly for short-haul flights. By offering lower fares and charging additional fees for optional services, LCCs are able to attract price-sensitive travelers who are willing to sacrifice some comfort and convenience in exchange for lower prices. LCCs also often operate from secondary airports, which can help to reduce costs. According to the latest research, the global low cost carrier market is poised to grow by USD 115.0 billion during 2023-2029, progressing at a CAGR of 8.74% during the forecast period.

The report covers market size and growth, segmentation, regional breakdowns, competitive landscape, trends and strategies for global low cost carrier market. It presents a quantitative analysis of the market to enable stakeholders to capitalize on the prevailing market opportunities. The report also identifies top segments for opportunities and strategies based on market trends and leading competitors’ approaches.

This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the aircraft type, operations, purpose, distribution channel, and region. The global market for low cost carrier can be segmented by aircraft type: narrow-body, wide-body. In 2022, the narrow-body segment made up the largest share of revenue generated by the low cost carrier market. Low cost carrier market is further segmented by operations: domestic, international. The domestic segment was the largest contributor to the global low cost carrier market in 2022. Based on purpose, the low cost carrier market is segmented into: leisure travel, VFR, business travel, others. The VFR segment is estimated to account for the largest share of the global low cost carrier market. On the basis of distribution channel, the low cost carrier market also can be divided into: online, travel agency, others. The online segment held the largest share of the global low cost carrier market in 2022 and is anticipated to hold its share during the forecast period. Low cost carrier market by region is categorized into: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America.

Market Segmentation
By aircraft type: narrow-body, wide-body
By operations: domestic, international
By purpose: leisure travel, VFR, business travel, others
By distribution channel: online, travel agency, others
By region: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America

The report explores the recent developments and profiles of key vendors in the Global Low Cost Carrier Market, including Southwest Airlines Co., JetBlue Airways Corp., Spirit Airlines Inc., InterGlobe Aviation Limited, Ryanair Holdings plc, EasyJet plc, SpiceJet Limited, Norwegian Air Shuttle ASA, among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.
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Scope of the Report
• To analyze and forecast the market size of the global low cost carrier market.
• To classify and forecast the global low cost carrier market based on aircraft type, operations, purpose, distribution channel, region.
• To identify drivers and challenges for the global low cost carrier market.
• To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global low cost carrier market.
• To identify and analyze the profile of leading players operating in the global low cost carrier market.

Why Choose This Report
• Gain a reliable outlook of the global low cost carrier market forecasts from 2023 to 2029 across scenarios.
• Identify growth segments for investment.
• Stay ahead of competitors through company profiles and market data.
• The market estimate for ease of analysis across scenarios in Excel format.
• Strategy consulting and research support for three months.
• Print authentication provided for the single-user license.