Low-cost Carrier Market Size Analysis and Top Companies
The global low-cost carrier market size is estimated to hit around USD 1,125.81 billion by 2033 USD 274.03 billion in 2023 , expanding at a CAGR of 17% from 2024 to 2033. The major players operating in the low-cost carrier market are Southwest Airlines Co., AirAsia Group Berhad, easyJet plc, JetBlue Airways Corporation, Norwegian Air Shuttle ASA, Spirit Airlines, Inc., IndiGo, Wizz Air Holdings plc, Allegiant Travel Company, and Others.
Market Report Coverage
| Report Coverage |
Details |
| Market Size in 2023 |
USD 234.21 Billion |
| Market Size in 2024 |
USD 274.03 Billion |
| Market Size by 2034 |
USD 1,317.20 Billion |
| Growth Rate from 2024 to 2034 |
CAGR of 17% |
| Largest Market |
Asia-Pacific |
| Base Year |
2023 |
| Forecast Period |
2024 to 2034 |
| Segments Covered |
By Aircraft Type, By Distribution Channel, By Operations, and By Application |
| Regions Covered |
North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
|
Low-cost Carrier Key Players
- Southwest Airlines Co.
- AirAsia Group Berhad
- easyJet plc
- JetBlue Airways Corporation
- Norwegian Air Shuttle ASA
- Spirit Airlines, Inc.
- IndiGo
- Wizz Air Holdings plc
- Allegiant Travel Company
Recent Development:
- In June 2023, Norse Atlantic Airways launched a flight between Rome and New York. The new flight is a low-cost traveling alternative for passengers in the summertime. The flights will be in operation on a Boeing 787 Dreamliner.
- In June 2023, Japan’s All Nippon Airways CEO Shinichi Inoue said on the sidelines of an aviation conference in Istanbul want to expand their short and medium-haul fleet by 2023, especially the Boeing 787 planes.
- In June 2023, the low-cost carrier launched passenger flights on Almaty-Tashkent routes by Uzbekistan My Freighter. They will be opening 3 times a week between Almaty and Tashkent.
- In June 2023, WestJet announced that it is planning to integrate Sunwing Airlines as a low-cost carrier in its main business within 2 years. According to the news, WestJet's current priority remains the acquisition of Swoop in the company’s business.
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