low cost carrier market research Revenue, Major Players, Consumer Trends, Analysis & Forecast Till 2027

Description

Low Cost Carrier (LCC) Market is likely to be valued at USD 247.36 Billion by 2025, expanding at a CAGR of 8.62% between 2019 and 2025, Global Low Cost Carrier (LCC) Market Report categorizes the Global Market by Type, by Operations and Region | LCC Industry - News and Updates

Market Forecast

Low-Cost Carrier (LCC) Market is projected to be valued at USD 247.36 Billion by 2025, expanding at a CAGR of 8.62% between 2019 and 2025. The increasing air passenger traffic globally, along with an increasing demand for budget carriers is primarily driving the growth of the market. Furthermore, increasing investments by major airlines in this business model is driving the growth of the market.

Market USP

The growing demand for LCCs in developing countries due to the surge of domestic air travelers is expected to drive the growth of the market.

Growth Opportunities in the Market

The narrow-body segment accounted for the largest market share in 2018: The narrow-body segment is also expected to grow at the highest CAGR during the forecast period from 2019 to 2025. The growth can be attributed to the high utilization of narrow-body aircraft by the airlines. These aircraft have lower operational costs than wide-body aircraft and to keep operational costs low is the biggest criteria in this business model.

Domestic segment is expected to witness a higher growth in the market: The domestic Operations segment is expected to grow at a higher CAGR during the review period. The increasing number of domestic air travelers along with an increasing number of airports in the developing countries is driving the growth.

Online distribution channel is expected to register the highest growth in the market: The online distribution channel segment is expected to grow at the highest CAGR during the review period. This is due to the increasing use of online marketplace for flight bookings as it saves time, money, provides every information about flight, and it is easy to use. The global online travel market is projected to reach USD1,091 billion in value by 2022, with Asia-Pacific expected to witness the highest growth rate during this period.

Browse Full Report Details @ https://www.marketresearchfuture.com/reports/low-cost-carrier-market-8504

Key Players

AirAsia Berhad (Malaysia)
EasyJet Airline Company Limited (UK)
IndiGo (India)
JetBlue Airways Corporation (US)
Norwegian Air Shuttle ASA (Norway)
Ryanair DAC (Ireland)
Southwest Airlines Co. (US)
SpiceJet Limited (India)
Spirit Airlines, Inc. (US)
WestJet Airlines Ltd (Canada)

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact:

Market Research Future®

99 Hudson Street,5Th Floor

New York, New York 10013

United States of America

Phone:

+1 628 258 0071(US)

+44 2035 002 764(UK)

Email: [email protected]

Website: https://www.marketresearchfuture.com

https://www.marketresearchfuture.com/reports/uav-flight-training-and-simulation-market-1239

https://www.marketresearchfuture.com/reports/marine-navigation-systems-market-4890