Global Low-Cost Carrier Market to Reach US$254.1 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Low-Cost Carrier estimated at US$156.2 Billion in the year 2020, is projected to reach a revised size of US$254.1 Billion by 2027, growing at a CAGR of 7.2% over the period 2020-2027.
The U.S. Accounts for Over 28.9% of Global Market Size in 2020, While China is Forecast to Grow at a 11.1% CAGR for the Period of 2020-2027
The Low-Cost Carrier market in the U.S. is estimated at US$45.1 Billion in the year 2020. The country currently accounts for a 28.87% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$48.8 Billion in the year 2027 trailing a CAGR of 11.1% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4% and 6.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.7% CAGR while Rest of European market (as defined in the study) will reach US$48.8 Billion by the year 2027.We bring years of research experience to this 8th edition of our report. The 143-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Competitors identified in this market include, among others,
- AirAsia Berhad
- Cebu Pacific Air
- JetBlue Airways Corporation
- Jetstar Airways Pty Ltd.
- Lion Air
- Norwegian Air Shuttle ASA
- Pegasus Airlines
- Royal Air Maroc
- Southwest Airlines Co.
- SpiceJet Ltd.
- Thai AirAsia Company Limited (TAA)
- Virgin Australia Airlines Pty Ltd.