Low-cost airline market: challenges and prospects

13-04-23

According to the latest estimates, the low-cost carrier market will grow by $248.65 billion between 2022 and 2027. However, growth momentum will slow to a CAGR of 15.15% during the forecast period.

The market is segmented by service (passenger service and cargo service), type (narrow body and wide body) and geography (APAC, North America, Europe, Middle East & Africa, and South America). 

Market growth in the passenger service segment will be significant during the forecast period. The growth of the segment is primarily driven by the increasing number of air passengers worldwide. For instance, in 2022, the global passenger traffic was 5 billion.