Summary

Global Low-Cost Carrier Market is valued at approximately USD xx billion in 2022 and is anticipated to grow with a healthy growth rate of more than 10% over the forecast period 2023-2030. Low-Cost Carrier is an airline that offers budget-friendly air travel by employing a simplified business model focused on reducing operational costs. These airlines typically provide no-frills services, charging passengers for additional amenities such as checked baggage, in-flight meals, and seat selection. The Low-Cost Carrier market is expanding because of factors such as the rising air passenger traffic and the growing rate of urbanization. LCCs often operate point-to-point routes rather than hub-and-spoke networks, allowing for quicker turnaround times and increased aircraft utilization. As a result, the demand of Low-Cost Carrier has progressively increased in the global market during the forecast period 2023-2030.

Low-Cost Carrier typically focus on providing affordable air travel options for budget-conscious travelers and the growing number of air traffic encourages low-cost carrier to expand their route networks to serve more destinations, which allows them to cover major regions, thereby increasing their overall market presence. According to Statista, the global number of scheduled passengers boarded by the airline industry accounted for 2185 million in 2021 and reached up to 3781 million in 2022. Furthermore, LCCs often stimulate demand by offering affordable fares that make air travel accessible to a broader demographic. Another important factor that drives the Low-Cost Carrier market is the rapid rate of urbanization. Urbanization promotes the development of transportation infrastructure, such as airports and similar facilities, which allows LCCs to open new routes and expand their network, meeting the growing demand for low-cost air travel. In addition, as per Statista, the global urbanization rate was 57% in 2022. North America has the highest amount of urbanization, with more than four-fifths of the population living in cities. Moreover, technological advancements associated with low-cost carriers and the expansion of international airline routes are anticipated to create a lucrative growth opportunity for the market over the forecast period. However, highly competitive pricing and low marginal profit are going to impede overall market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Low-Cost Carrier Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the growing rate of urbanization in the region. Urbanization drives the need for infrastructure development, including airports. Governments and private investors often invest in expanding existing airports or building new ones to accommodate the growing number of passengers. This expansion creates opportunities for LCCs to increase their route networks and operate from more airports, enhancing their accessibility to urban populations. The region’s dominant performance is anticipated to propel the overall demand of Low-Cost Carrier. Furthermore, Asia Pacific is expected to grow fastest during the forecast period, owing to factors such as increasing air passenger traffic in the region. Increased passenger traffic could stimulate competition among airlines, leading to fare wars and promotional offers. LCCs, known for their cost-efficient operations, are often well-positioned to capitalize on such opportunities and attract price-sensitive travelers.

Major market players included in this report are:
AirAsia India Limited
Ryanair Holdings plc
InterGlobe Aviation Limited
Scoot Pte Ltd.
Southwest Airlines Co.
Eurowings GmbH
Virgin Australia Airlines Pty Ltd.
JetBlue Airways Corporation
Wizz Air Hungary Ltd.
Spirit Airlines, Inc.
Recent Developments in the Market:
 In May 2023, Singapore Airlines' Scoot has agreed to employ Embraer's E190-E2 to extend its fleet, as the low-cost carrier. It aims to expand its position in Southeast Asia. Scoot has become the first Singaporean airline to operate nine new E2 commercial jets from the lessor company's existing Embraer backlog after signing a lease agreement with Azorra.

Global Low-Cost Carrier Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Aircraft Type, Destination, Haul, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
 Customization Scope - Free report customization (equivalent to up to 8 analysts’ working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters to detailed information about the crucial aspects such as driving factors & challenges that will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Aircraft Type
Narrow Body
Wide Body
Others

By Destination
Domestic
International

By Haul
Long Haul
Short Haul

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Table of Contents

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Low-Cost Carrier Market, by Region, 2020-2030 (USD Billion)
1.2.2. Low-Cost Carrier Market, by Aircraft Type, 2020-2030 (USD Billion)
1.2.3. Low-Cost Carrier Market, by Destination, 2020-2030 (USD Billion)
1.2.4. Low-Cost Carrier Market, by Haul, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Low-Cost Carrier Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Low-Cost Carrier Market Dynamics
3.1. Low-Cost Carrier Market Impact Analysis (2020-2030)
3.1.1. Market Drivers
3.1.1.1. Rising Air Passenger Traffic
3.1.1.2. Rapid Rate of Urbanization
3.1.2. Market Challenges
3.1.2.1. Highly Competitive Pricing
3.1.2.2. Low Marginal Profit
3.1.3. Market Opportunities
3.1.3.1. Technological Advancements Associated with Low-Cost Carrier
3.1.3.2. Expansion of International Airline Routes
Chapter 4. Global Low-Cost Carrier Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Low-Cost Carrier Market, by Aircraft Type
5.1. Market Snapshot
5.2. Global Low-Cost Carrier Market by Aircraft Type, Performance - Potential Analysis
5.3. Global Low-Cost Carrier Market Estimates & Forecasts by Aircraft Type 2020-2030 (USD Billion)
5.4. Low-Cost Carrier Market, Sub Segment Analysis
5.4.1. Narrow Body
5.4.2. Wide Body
5.4.3. Others
Chapter 6. Global Low-Cost Carrier Market, by Destination
6.1. Market Snapshot
6.2. Global Low-Cost Carrier Market by Destination, Performance - Potential Analysis
6.3. Global Low-Cost Carrier Market Estimates & Forecasts by Destination 2020-2030 (USD Billion)
6.4. Low-Cost Carrier Market, Sub Segment Analysis
6.4.1. Domestic
6.4.2. International
Chapter 7. Global Low-Cost Carrier Market, by Haul
7.1. Market Snapshot
7.2. Global Low-Cost Carrier Market by Haul, Performance - Potential Analysis
7.3. Global Low-Cost Carrier Market Estimates & Forecasts by Haul 2020-2030 (USD Billion)
7.4. Low-Cost Carrier Market, Sub Segment Analysis
7.4.1. Long Haul
7.4.2. Short Haul
Chapter 8. Global Low-Cost Carrier Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Low-Cost Carrier Market, Regional Market Snapshot
8.4. North America Low-Cost Carrier Market
8.4.1. U.S. Low-Cost Carrier Market
8.4.1.1. Aircraft Type breakdown estimates & forecasts, 2020-2030
8.4.1.2. Destination breakdown estimates & forecasts, 2020-2030
8.4.1.3. Haul breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Low-Cost Carrier Market
8.5. Europe Low-Cost Carrier Market Snapshot
8.5.1. U.K. Low-Cost Carrier Market
8.5.2. Germany Low-Cost Carrier Market
8.5.3. France Low-Cost Carrier Market
8.5.4. Spain Low-Cost Carrier Market
8.5.5. Italy Low-Cost Carrier Market
8.5.6. Rest of Europe Low-Cost Carrier Market
8.6. Asia-Pacific Low-Cost Carrier Market Snapshot
8.6.1. China Low-Cost Carrier Market
8.6.2. India Low-Cost Carrier Market
8.6.3. Japan Low-Cost Carrier Market
8.6.4. Australia Low-Cost Carrier Market
8.6.5. South Korea Low-Cost Carrier Market
8.6.6. Rest of Asia Pacific Low-Cost Carrier Market
8.7. Latin America Low-Cost Carrier Market Snapshot
8.7.1. Brazil Low-Cost Carrier Market
8.7.2. Mexico Low-Cost Carrier Market
8.8. Middle East & Africa Low-Cost Carrier Market
8.8.1. Saudi Arabia Low-Cost Carrier Market
8.8.2. South Africa Low-Cost Carrier Market
8.8.3. Rest of Middle East & Africa Low-Cost Carrier Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. AirAsia India Limited
9.3.1.1. Key Information
9.3.1.2. Overview
9.3.1.3. Financial (Subject to Data Availability)
9.3.1.4. Product Summary
9.3.1.5. Recent Developments
9.3.2. Ryanair Holdings plc
9.3.3. InterGlobe Aviation Limited
9.3.4. Scoot Pte Ltd
9.3.5. Southwest Airlines Co.
9.3.6. Eurowings GmbH
9.3.7. Virgin Australia Airlines Pty Ltd
9.3.8. JetBlue Airways Corporation
9.3.9. Wizz Air Hungary Ltd
9.3.10. Spirit Airlines, Inc
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption