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Low Cost Airlines Market Overview:

The Global Low Cost Airlines Market was valued at $117,726 million in 2016, and is projected to reach $207,816 million in 2023, registering a CAGR of 8.6% from 2017 to 2023. The development of the travel & tourism sector fosters the growth of the low cost airlines market.

Low cost airlines are passenger airlines, which offer travelling service tickets at relatively cheaper rate compared to other airlines (full service or traditional airline). Low cost airlines are also known as no frills airlines, prizefighters, low-cost carriers (LCC), discount airlines, and budget airlines. Some of the popular low cost airlines include Ryanair and EasyJet.

The feasibility of the operation of low cost airlines is attributed to its low cost model. This low cost model may include some of the following characteristicslow pricing strategy, simple pricing structure, involves online & direct ticket booking (eliminating extra ground staff & vendors), preference to secondary airport, point-to-point network, single class seating arrangement, ticket fare may not include extra services (food & beverage), intensive aircraft usage, short turnaround time, dense seating arrangements, secondary revenue source (advertisement, onboard selling), and other.

Low cost airlines have grown exponentially worldwide over the past few years, owing to rise in economic activity, ease of travel, travel & tourism industry, urbanization, changes in lifestyle, consumers preference for low cost service along with non-stops, and frequent service, increase in purchasing power of middle class households especially in the developing regions, and high internet penetration coupled with e-literacy. However, factors such as volatile crude oil price and increase in terrorism & crime rate, political uncertainty, & natural calamities hinder the market growth. Conversely, sustainable airport governance, operational & financial improvement is anticipated to leverage the growth of the low cost airlines market. Nevertheless, factors such as high investment & operational cost but low profitability is anticipated to be a major challenge of the low cost airlines industry.

The global low cost airlines market is segmented based on purpose, destination, and distribution channel. By purpose, the market is divided into leisure travel, VFR, business travel, and others. By destination, it is bifurcated into domestic and international. Based on distribution channel, the market is classified into online, travel agency, and others.

The global low cost airlines market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Italy, Spain, Germany, France, Latvia, and rest of Europe), Asia-Pacific (Philippines, Indonesia, Thailand, Singapore, Malaysia, Vietnam, China, India, and rest of Asia-Pacific), and LAMEA (Latin America, Africa, and Middle East).

Major companies profiled in the report include Airasia Inc., Virgin America, Norwegian Air Shuttle As, easyJet plc, Jetstar Airways Pty Ltd., WestJet Airlines Ltd., Indigo, LLC, Azul Linhas Areas Brasileiras S.A. (Azul Brazilian Airlines), Ryanair Holdings plc, and Air Arabia PJSC.

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The global low cost airlines market is dominated by the Europe region. However, Asia-Pacific is anticipated to witness the highest growth rate during the forecast period. The penetration of low cost airlines is not equal in all region. The penetration is high in North America & Europe and LAMEA has the least.

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The low cost airlines market by purpose of travel is dominated by the leisure travelers, followed by visiting friends & relatives (VFR). Most of the times, the business travelers do not prefer to travel in LCC as the payment is completed by the company. However, over time the market is significantly expanding over the business travel market. The companies are notably accepting LCCs as business travel is a huge cost centers.

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The low cost airlines by distribution channel is segmented into online, travel agency, and others (such as spot booking). High penetration online sale aids in the development of low cost model of LCC. High application of online mode of sale has helped control the work force and also remove the middle man charges.

Key Market Benefits for Stakeholders

  • This report provides an in-depth analysis of the global low cost airlines market to identify the potential investment pockets.
  • It outlines the current trends and future scenarios to determine the low cost airlines market potential and gain stronger market foothold.
  • Key drivers, restraints, and opportunities and their detailed impact analysis are elucidated.
  • Quantitative analysis of the low cost airlines industry from 2017 to 2023 is highlighted to recognize the financial competency of the market.
  • Porters Five Forces model illustrates the threat of new entrants, threat of substitutes, and strength of the buyers & suppliers.

Low Cost Airlines Market Key Segments:

By Purpose

  • Leisure Travel
  • VFR
  • Business Travel
  • Others

By Destination

By Distribution Channel

  • Online
  • Travel Agency
  • Others

By Geography

  • North America
  • Europe
    • UK
    • Italy
    • Spain
    • Germany
    • France
    • Latvia
    • Rest of Europe
  • Asia-Pacific
    • Philippines
    • Indonesia
    • Thailand
    • Singapore
    • Malaysia
    • Vietnam
    • China
    • India
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

 

CHAPTER 1: INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY MARKET BENEFITS FOR STAKEHOLDERS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODLOGY

1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. SNAPSHOT
2.2. CXO PRESPECTIVE

CHAPTER 3: MARKET OVERVIEW

3.1. MARKET DEFINATION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top investment pockets
3.2.2. Top impacting factors
3.2.3. Top winning strategies

3.3. PORTER'S FIVE FORCE ANALYSIS
3.4. MARKET PLAYER POSITIONING, 2016
3.5. MARKET DYNAMICS

3.5.1. Drivers

3.5.1.1. Economic growth
3.5.1.2. Development of the global travel & tourism industry
3.5.1.3. Urbanization coupled with population
3.5.1.4. Internet penetration

3.5.2. Restraints

3.5.2.1. Volatile crude oil price
3.5.2.2. Increase in terrorism & crime rate, political uncertainty, & natural calamities

3.5.3. Opportunities

3.5.3.1. Transparent airport regulations
3.5.3.2. Infrastructural investment
3.5.3.3. Operational & financial improvement

3.5.4. Challenge

3.5.4.1. High investment & operational cost but low profitability

CHAPTER 4: LOW COST AIRLINES MARKET, BY PURPOSE

4.1. OVERVIEW

4.1.1. Market size and forecast

4.2. LEISURE TRAVEL

4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast by region
4.2.3. Market size and forecast by country

4.3. VFR

4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast by region
4.3.3. Market size and forecast by country

4.4. BUSINESS TRAVEL

4.4.1. Key market trends, growth factors, and opportunities
4.4.2. Market size and forecast by region
4.4.3. Market size and forecast by country

4.5. OTHERS

4.5.1. Key market trends, growth factors, and opportunities
4.5.2. Market size and forecast by region
4.5.3. Market size and forecast by country

CHAPTER 5: LOW COST AIRLINES MARKET, BY DESTINATION

5.1. OVERVIEW

5.1.1. Market size and forecast

5.2. DOMESTIC

5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast by region
5.2.3. Market size and forecast by country

5.3. INTERNATIONAL

5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast by region
5.3.3. Market size and forecast by country

CHAPTER 6: LOW COST AIRLINES MARKET, BY DISTRIBUTION CHANNEL

6.1. OVERVIEW

6.1.1. Market size and forecast

6.2. ONLINE

6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast by region
6.2.3. Market size and forecast by country

6.3. TRAVEL AGENCY

6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast by region
6.3.3. Market size and forecast by country

6.4. OTHERS

6.4.1. Key market trends, growth factors, and opportunities
6.4.2. Market size and forecast by region
6.4.3. Market size and forecast by country

CHAPTER 7: LOW COST AIRLINES MARKET, BY REGION

7.1. OVERVIEW

7.1.1. Market size and forecast

7.2. NORTH AMERICA

7.2.1. Key market trends, growth factors, and opportunities
7.2.2. Market size and forecast

7.2.2.1. U.S.
7.2.2.2. Canada
7.2.2.3. Mexico

7.3. EUROPE

7.3.1. Key market trends, growth factors, and opportunities
7.3.2. Market size and forecast

7.3.2.1. UK
7.3.2.2. Italy
7.3.2.3. Spain
7.3.2.4. Germany
7.3.2.5. France
7.3.2.6. Latvia
7.3.2.7. Rest of Europe

7.4. ASIA-PACIFIC

7.4.1. Key market trends, growth factors, and opportunities
7.4.2. Market size and forecast

7.4.2.1. Philippines
7.4.2.2. Indonesia
7.4.2.3. Thailand
7.4.2.4. Singapore
7.4.2.5. Malaysia
7.4.2.6. Vietnam
7.4.2.7. China
7.4.2.8. India
7.4.2.9. Rest of Asia-Pacific

7.5. LAMEA

7.5.1. Key market trends, growth factors, and opportunities
7.5.2. Market size and forecast

7.5.2.1. Latin America
7.5.2.2. Africa
7.5.2.3. Middle East

CHAPTER 8: COMPANY PROFILES

8.1. AirAsia Berhad

8.1.1. Company overview
8.1.2. Company snapshot
8.1.3. Operating business segments
8.1.4. Business performance
8.1.5. Key strategic moves and developments

8.2. Alaska Air Group, Inc. (Virgin America Inc.)

8.2.1. Company overview
8.2.2. Company snapshot
8.2.3. Operating business segments
8.2.4. Business performance

8.3. Norwegian Air Shuttle ASA

8.3.1. Company overview
8.3.2. Company snapshot
8.3.3. Operating business segments
8.3.4. Business performance
8.3.5. Key strategic moves and developments

8.4. easyJet plc

8.4.1. Company overview
8.4.2. Company snapshot
8.4.3. Business performance
8.4.4. Key strategic moves and developments

8.5. Qantas Airways Limited (Jetstar Airways Pty Ltd.)

8.5.1. Company overview
8.5.2. Company snapshot
8.5.3. Operating business segments
8.5.4. Business performance
8.5.5. Key strategic moves and developments

8.6. WestJet Airlines Ltd.

8.6.1. Company overview
8.6.2. Company snapshot
8.6.3. Operating business segments
8.6.4. Business performance
8.6.5. Key strategic moves and developments

8.7. NewWorldAir Holdings, Inc.(Indigo, LLC)

8.7.1. Company overview
8.7.2. Company snapshot

8.8. Azul S.A. (Azul Linhas Aéreas Brasileiras S.A.)