The global low cost airlines market reached a value of US$ 172.54 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 302.85 Billion by 2027, exhibiting a CAGR of 9.60% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Also known as budget airlines or no-frills carriers, low cost airlines offer fewer amenities for short-haul than conventional full-service airlines. These airlines are affordable, but they charge separately for each item, such as food, beverages, prior boarding, carry-on baggage and car rental services, to generate non-ticket revenues. They also use single type aircraft with minimum equipment to reduce weight, acquisition and maintenance costs while increasing fuel efficiency. They operate at less congested secondary airports to reduce airport fees, air traffic, delays and ground time between flights.

Low Cost Airlines Market Trends:
A significant rise in domestic travel and tourism represents one of the key factors bolstering the market growth. Moreover, the leading airline companies offer tickets directly via the telephone or the internet and eliminate the role of third-party agencies, which reduces the cost of transactions and services. This, in confluence with the widespread adoption of ticketless travel and the growing internet penetration, is contributing to the market growth. Furthermore, these airlines operate via point-to-point nonstop flights that aid in reducing travel time and enabling better aircraft utilization. In addition to this, the increasing focus of business travelers on minimizing travel time and costs is influencing the market positively. The emphasis of the market players on providing discounted fares to early reservations while enhancing passenger connectivity is driving the market further. However, the decline in the number of commercial flights on account of the spread of the coronavirus disease (COVID-19) and several measures undertaken by governing agencies to prevent the spread of the pandemic is negatively influencing the market. The market will experience growth once restrictions on traveling are lifted.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global low cost airlines market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on purpose, distribution channel and destination.

Breakup by Purpose:

Leisure Travel
VFR
Business Travel
Others

Breakup by Distribution Channel:

Online
Travel Agency
Others

Breakup by Destination:

Domestic
International

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Air Arabia PJSC, Alaska Airlines Inc., Capital A Berhad (Tune Group Sdn Bhd), easyJet plc, Go Airlines (Wadia Group), IndiGo, Jetstar Airways Pty Ltd (Qantas Airways Limited), Norwegian Air Shuttle ASA, Ryanair Holdings PLC, Southwest Airlines Co., SpiceJet Limited, Spirit Airlines Inc. and WestJet Airlines Ltd.

Key questions answered in this report:
How has the global low cost airlines market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global low cost airlines market?
What are the key regional markets?
What is the breakup of the market based on the purpose?
What is the breakup of the market based on the distribution channel?
What is the breakup of the market based on the destination?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global low cost airlines market and who are the key players?
What is the degree of competition in the industry?