Low-Cost Carrier Market Projected to Witness a Rapid Growth by 2025

Industry Overview

Global 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.

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) and WestJet Airlines Ltd (Canada)

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Growth Opportunities in the Market

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. Global Low-Cost Carrier Market has witnessed high growth in the recent years owing to increasing preference for LCCs over FSCs in the developing countries.

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