Low Cost Carrier (LCC) Market Research Report Forecast Till 2030

Description

Low Cost Carrier (LCC) Market Research Report Forecast Till 2030

Market Overview

The Low-Cost Carrier (LCC) Market Size is expected to arrive at USD 1534.76 Billion in 2021 and is supposed to arrive at USD 419.72 billion by 2030, with a CAGR of 8.96%.

Low-cost carriers (LCCs) are carriers that, through various functional cycles, enjoy accomplished a cost upper hand over full-administration carriers (FSCs). These LCC carriers make an interpretation of cost reserve funds into lower, more reasonable passages for air explorers.

The low-cost carrier (LCC) market has seen high development as of late attributable to a rising inclination for LCCs over FSCs in non-industrial nations. Additionally, high airplane usage, web booking, utilization of auxiliary air terminals, lower wage scales, least lodge team, lower paces of unionization among representatives, one class of seating, and short ground completion times are a few variables driving the development of the market.

This concentrate on the LCC Business gives itemized data on industry patterns, market elements, market size, serious scene, and valuable learning experiences.

Market Elements

The low-cost carrier (LCC) market is supposed to observe moderate development over the estimate period. Low-Cost Carrier (LCC) developing interest for air travel, government drives to help territorial availability and expanding noticeable quality of low-cost carrier (LCC) in Latin America is moving the market development.

Moreover, the rising business airplane creation and expanding airplane expectations in Asia-Pacific locale is probably going to set out new open doors in the market. Nonetheless, high composites material cost and unfriendly effect of pandemic might confine the market development.

The extension of the aeronautics business in the MEA is credited to its remarkable geological situation on the planet. Eight hours of flying chance to the Center East allow carriers to reach 80% of the populace on the planet, conglomerating the traffic and allowing one-stop administration in carrier courses.

The public authority’s interest in different foundation projects for sightseers and vacationers in this district is extending market development during the review time period. Most travelers visiting this district are from Europe and North America. Besides, the presence of noticeable frameworks including the tallest pinnacles, greatest shopping centers, islands, and extravagant administrations in this locale is affecting the airplane business, drawing in additional sightseers to the Center East area.

Airline companies in India are planning to add new aircraft to their fleet to capture the increasing domestic passenger traffic. The IATA announced that the domestic market in India posted the fastest full-year domestic growth rate of 18.6% annual demand. In March 2018, Jet Airways agreed to buy.75 new Boeing 737 MAX planes. Vistara is also planning to buy 60 more aircraft followed by 450 aircraft by Indigo.

Market Segmentation

The global Low Cost Carrier (LCC) market is segmented in this research report based on aircraft type, operation, use, channel of distribution, and region/country.

The Low Cost Carrier (LCC) market has been split into Narrow-Body and Wide-Body segments based on aircraft type. In 2021, the Narrow-Body category dominated the industry.

Based on aircraft type, operations, purpose, distribution channel, and area, the Low Cost Carrier (LCC) Market has been divided.

Domestic and international Low Cost Carrier (LCC) markets have been divided based on operations.

The Low Cost Carrier (LCC) market has been divided into segments for leisure travel, VFR, business travel, and others based on purpose.

The Low Cost Carrier (LCC) market has been divided into Online, Travel Agencies, and Others based on Distribution Channels.

Regional Analysis

Globally, the Low Cost Carrier (LCC) market has been classified into five distinct locales — North America, Europe, Asia-Pacific, Center East and Africa, and Latin America. Europe represented the biggest market share, with a market worth of USD 50,078.79 Million of every 2020; enrolling a CAGR of 8.79% during the gauge period is normal.

Latin America was the second-biggest market in 2020, esteemed at USD 45,280.61 Million; it is projected to enroll CAGR of 9.57%. The presence of various airplane producers across the district including Daher, Stelia Aviation, and Latecoere are principally adding to the Europe low-cost carrier (LCC) market development over the review time period.

The rising conspicuousness of low-cost carriers alongside the extending local availability will uphold the provincial development throughout the gauge time period. The rising air traffic combined with higher carrier frequencies is pushing the interest for new airplane across the area. Moreover, the multiplying MRO administrations will assume a significant part in the business development over the review time period.

Makers are additionally accentuating on growing their creation offices to meet their past request overabundances. For example, in June 2018, Airbus initiated its fourth creation line to make the A320 product offering up in Hamburg, Germany. This technique empowered the organization to increase the development of its single-walkway airplane to 60 every month until mid-2019.

The Latin America low-cost carrier (LCC) market is driven by the multiplying aircrafts across the district. Also, carriers are altogether extending their aircraft courses and zeroing in on giving comfort to clients, in this manner supporting their market shares.

Airplane makers are entering the locale to work on their deals and backing their geological development, in this manner supporting their market shares. For example, in November 2019, Lockheed Martin extended its deals network in Latin America with another deals office in Chile.

Major Players

The major players of the Low Cost Carrier (LCC) include AirAsia Berhad, EasyJet plc, IndiGo, Alaska Air Group, Norwegian Air Shuttle ASA, Ryanair DAC, JetBlue Airways Corporation, Ryanair DAC, SpiceJet Limited, Spirit Airlines, Inc., Inc, Azul S.A, Air Arabia PJSC, Jetstar Airways Pty Ltd, WestJet Airlines Ltd, Eurowings, Scoot, PAL Express, and Flynas.

COVID 19 Impacts

We are continuously tracking the impact of the COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on industries.

Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.

TABLE OF CONTENTS

1 EXECUTIVE SUMMARY 17

1.1 MARKET ATTRACTIVENESS ANALYSIS 19

1.1.1 GLOBAL LOW COST CARRIER (LCC) MARKET, BY AIRCRAFT TYPE 20

1.1.2 GLOBAL LOW COST CARRIER (LCC) MARKET, OPERATIONS 21

1.1.3 GLOBAL LOW COST CARRIER (LCC) MARKET, PURPOSE 22

1.1.4 GLOBAL LOW COST CARRIER (LCC) MARKET, DISTRIBUTION CHANNEL 23

1.1.5 GLOBAL LOW COST CARRIER (LCC) MARKET, BY REGION 24

2 MARKET INTRODUCTION 25

2.1 DEFINITION 25

2.2 SCOPE OF THE STUDY 25

2.3 RESEARCH OBJECTIVE 25

2.4 MARKET STRUCTURE 25

2.5 KEY BUYING CRITERIA 26

3 RESEARCH METHODOLOGY 27

3.1 RESEARCH PROCESS 27

3.2 PRIMARY RESEARCH 28

3.3 SECONDARY RESEARCH 29

3.4 MARKET SIZE ESTIMATION 30

3.5 FORECAST MODEL 31

3.6 LIST OF ASSUMPTIONS & LIMITATIONS 32

4 MARKET DYNAMICS 33

4.1 INTRODUCTION 33

4.2 DRIVERS 34

4.2.1 GROWING DEMAND FOR AIR TRAVEL AROUND THE WORLD 34

4.2.2 GOVERNMNT INITIATIVES TO BOOST RGIONAL CONNECTIVITY 35

4.2.3 INCREASING PROMINENCE OF LOW-COST CARRIERS (LCC) IN LATIN AMERICA 35

4.2.4 DRIVERS IMPACT ANALYSIS 36

4.3 RESTRAINT 37

4.3.1 HIGH COMPOSITE MATERIAL COST 37

4.3.2 ADVERSE IMPACT OF CORNAVIRUS PANDEMIC ON AIRCRAFT INDUSTRY 37

4.3.3 RESTRAINT IMPACT ANALYSIS 38

4.4 OPPORTUNITIES 38

4.4.1 INCREASING AIRCRAFT DELIVERABLES IN ASIA-PACIFIC 38

4.4.2 INCREASING COMMERCIAL AIRCRAFT PRODUCTION 39

4.5 PATENT TRENDS 40

4.6 REGULATORY LANDSCAPE/ STANDARDS 41

4.6.1 NORTH AMERICA 41

4.6.2 LATIN AMERICA 43

4.7 INDUSTRY INSIGHTS 44

5 GLOBAL LOW COST CARRIER (LCC) MARKET, BY AIRCRAFT TYPE 46

5.1 OVERVIEW 46

5.1.1 GLOBAL LOW COST CARRIER (LCC) MARKET ESTIMATES & FORECAST, BY AIRCRAFT TYPE, 2021–2030 (USD MILLION) 47

5.2 NARROW-BODY 48

5.2.1 NARROW-BODY: MARKET ESTIMATES & FORECAST, BY REGION, 2021–2030 (USD MILLION) 48

5.3 WIDE-BODY 49

5.3.1 WIDE-BODY: MARKET ESTIMATES & FORECAST, BY REGION, 2021–2030 (USD MILLION) 49

6 GLOBAL LOW COST CARRIER (LCC) MARKET, BY OPERATION 50

6.1 OVERVIEW 50

6.1.1 GLOBAL LOW COST CARRIER (LCC) MARKET ESTIMATES & FORECAST, BY OPERATIONS, 2021–2030 (USD MILLION) 51

6.2 DOMESTIC 52

6.2.1 DOMESTIC: MARKET ESTIMATES & FORECAST, BY REGION, 2021–2030 (USD MILLION) 52

6.3 INTERNATIONAL 53

6.3.1 INTERNATIONAL: MARKET ESTIMATES & FORECAST, BY REGION, 2021–2030 (USD MILLION) 53

7 GLOBAL LOW COST CARRIER (LCC) MARKET, BY PURPOSE 54

7.1 OVERVIEW 54

7.1.1 GLOBAL LOW COST CARRIER (LCC) MARKET ESTIMATES & FORECAST, BY PURPOSE, 2021–2030 (USD MILLION) 55

7.2 LEISURE TRAVEL 56

7.2.1 LEISURE TRAVEL: MARKET ESTIMATES & FORECAST, BY REGION, 2021–2030 (USD MILLION) 56

7.3 VFR 57

7.3.1 VFR: MARKET ESTIMATES & FORECAST, BY REGION, 2021–2030 (USD MILLION) 57

7.4 BUSINESS TRAVEL 58

7.4.1 BUSINESS TRAVEL: MARKET ESTIMATES & FORECAST, BY REGION, 2021–2030 (USD MILLION) 58

7.5 OTHERS 59

7.5.1 OTHERS: MARKET ESTIMATES & FORECAST, BY REGION, 2021–2030 (USD MILLION) 59

8 GLOBAL LOW COST CARRIER (LCC) MARKET, BY DISTRIBUTION CHANNEL 60

8.1 OVERVIEW 60

8.1.1 GLOBAL LOW COST CARRIER (LCC) MARKET ESTIMATES & FORECAST, BY DISTRIBUTION CHANNEL, 2021–2030 (USD MILLION) 61

8.2 ONLINE 62

8.2.1 ONLINE: MARKET ESTIMATES & FORECAST, BY REGION, 2021–2030 (USD MILLION) 62

8.3 TRAVEL AGENCY 63

8.3.1 TRAVEL AGENCY: MARKET ESTIMATES & FORECAST, BY REGION, 2021–2030 (USD MILLION) 63

8.4 OTHERS 64

8.4.1 OTHERS: MARKET ESTIMATES & FORECAST, BY REGION, 2021–2030 (USD MILLION) 64

9 GLOBAL LOW COST CARRIER (LCC) MARKET, BY REGION 65

9.1 OVERVIEW 65

9.1.1 GLOBAL LOW COST CARRIER (LCC) MARKET ESTIMATES & FORECAST, BY REGION, 2021–2030 (USD MILLION) 66

9.2 NORTH AMERICA 67

9.2.1 US 70

9.2.2 CANADA 72

9.3 EUROPE 75

9.3.1 UK 78

9.3.2 GERMANY 81

9.3.3 FRANCE 83

9.3.4 ITALY 85

9.3.5 REST OF EUROPE 87

9.4 ASIA-PACIFIC 90

9.4.1 CHINA 94

9.4.2 JAPAN 96

9.4.3 INDIA 98

9.4.4 SOUTH KOREA 101

9.4.5 REST OF ASIA-PACIFIC 103

9.5 MIDDLE EAST & AFRICA 106

9.5.1 SAUDI ARABIA 109

9.5.2 UAE 112

9.5.3 TURKEY 114

9.5.4 REST OF THE MIDDLE EAST & AFRICA 116

9.6 LATIN AMERICA 119

9.6.1 BRAZIL 122

9.6.2 REST OF LATIN AMERICA 124

10 COMPETITIVE LANDSCAPE 128

10.1 LEADING LOW-COST AIRLINES WORLDWIDE IN 2021, BASED ON REVENUE (%) 129

10.2 COMPETITIVE BENCHMARKING 130

11 COMPANY PROFILES 131

11.1 CAPITAL A BERHAD 131

11.1.1 COMPANY OVERVIEW 131

11.1.2 FINANCIAL OVERVIEW 132

11.1.3 KEY DEVELOPMENTS 132

11.1.4 SWOT ANALYSIS 133

11.1.5 KEY STRATEGIES 133

11.2 EASYJET PLC 134

11.2.1 COMPANY OVERVIEW 134

11.2.2 FINANCIAL OVERVIEW 135

11.2.3 KEY DEVELOPMENTS 135

11.2.4 SWOT ANALYSIS 136

11.2.5 KEY STRATEGIES 136

11.3 INDIGO 137

11.3.1 COMPANY OVERVIEW 137

11.3.2 FINANCIAL OVERVIEW 138

11.3.3 KEY DEVELOPMENTS 138

11.3.4 SWOT ANALYSIS 139

11.3.5 KEY STRATEGIES 139

11.4 JETBLUE AIRWAYS CORPORATION 140

11.4.1 COMPANY OVERVIEW 140

11.4.2 FINANCIAL OVERVIEW 141

11.4.3 KEY DEVELOPMENTS 142

11.4.4 SWOT ANALYSIS 143

11.4.5 KEY STRATEGIES 143

11.5 NORWEGIAN AIR SHUTTLE ASA 144

11.5.1 COMPANY OVERVIEW 144

11.5.2 FINANCIAL OVERVIEW 144

11.5.3 KEY DEVELOPMENTS 145

11.5.4 SWOT ANALYSIS 145

11.5.5 KEY STRATEGIES 145

11.6 RYANAIR DAC 146

11.6.1 COMPANY OVERVIEW 146

11.6.2 FINANCIAL OVERVIEW 147

11.6.3 KEY DEVELOPMENTS 147

11.6.4 SWOT ANALYSIS 148

11.6.5 KEY STRATEGIES 148

11.7 SOUTHWEST AIRLINES CO. 149

11.7.1 COMPANY OVERVIEW 149

11.7.2 FINANCIAL OVERVIEW 150

11.7.3 KEY DEVELOPMENTS 150

11.7.4 SWOT ANALYSIS 151

11.7.5 KEY STRATEGIES 151

11.8 SPICEJET LIMITED 152

11.8.1 COMPANY OVERVIEW 152

11.8.2 FINANCIAL OVERVIEW 153

11.8.3 KEY DEVELOPMENTS 153

11.8.4 SWOT ANALYSIS 154

11.8.5 KEY STRATEGIES 154

11.9 SPIRIT AIRLINES, INC. 155

11.9.1 COMPANY OVERVIEW 155

11.9.2 FINANCIAL OVERVIEW 156

11.9.3 KEY DEVELOPMENTS 156

11.9.4 SWOT ANALYSIS 157

11.9.5 KEY STRATEGIES 157

11.10 WESTJET AIRLINES LTD 158

11.10.1 COMPANY OVERVIEW 158

11.10.2 FINANCIAL OVERVIEW 158

11.10.3 KEY DEVELOPMENTS 158

11.10.4 SWOT ANALYSIS 159

11.10.5 KEY STRATEGIES 159

12 OTHER PROMINENT PLAYERS 160

12.1 ALASKA AIR GROUP, INC. 160

12.2 AZUL S.A. 160

12.3 AIR ARABIA PJSC 161

12.4 JETSTAR AIRWAYS PTY LTD. 161

12.5 EUROWINGS 162

12.6 SCOOT 162

12.7 PAL EXPRESS 163

12.8 FLYNAS 163

13 REFERENCES 164