info@marketresearchfuture.com   📞  +1 (855) 661-4441(US)   📞  +44 1720 412 167(UK)
Certified Global Research Member
Isomar fd.webp Wcrc 57.webp
Key Questions Answered
  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
Why Choose Market Research Future?
  • Vigorous research methodologies for specific market.
  • Knowledge partners across the globe
  • Large network of partner consultants.
  • Ever-increasing/ Escalating data base with quarterly monitoring of various markets
  • Trusted by fortune 500 companies/startups/ universities/organizations
  • Large database of 5000+ markets reports.
  • Effective and prompt pre- and post-sales support.

Low-Cost Carrier (LCC) Market Research Report Information By Aircraft Type (Narrow-Body and Wide-Body), Operations (Domestic and International), Distribution Channel (Online and Travel Agency), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030


ID: MRFR/A&D/7032-CR | 168 Pages | Author: Sejal Akre| October 2022

Global Low-Cost Carrier (LCC) Market Overview


Low-Cost Carrier (LCC) Market Size was valued at USD 174.6826 billion in 2023. The Low-Cost Carrier (LCC) Market industry is projected to grow from USD 203.1558638 Billion in 2024 to USD 679.934503191597 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 16.30% during the forecast period (2024 - 2030). Increasing demand for air travel also Government initiatives to boost regional connectivity are the key market drivers enhancing the market growth.


Low-Cost Carrier (LCC) Market


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Low-Cost Carrier (LCC) Market Trends



  • Increasing demand for air travel is to boost market growth


The MEA's unique geographic location in the world has contributed to the growth of the aviation industry there. Carriers can reach 80% of the world's population with eight hours of flight time to the Middle East, aggregating traffic and enabling one-stop service on carrier routes. During the study period, market growth is being accelerated by government investments in a range of tourism-related infrastructure projects. Travelers from North America and Europe make up the majority of visitors to this area. The Middle East region also benefits from notable infrastructures such as the tallest towers, the largest shopping malls, islands, and abundant services, influencing the aircraft industry and drawing more tourists there.


Indian airline companies intend to expand their fleet with new planes to handle the rising domestic passenger volume. The Indian domestic market, with a demand growth of 18.6% annually, had the fastest full-year domestic growth rate, according to the IATA. Jet Airways and I agreed to buy in March 2018. 75 fresh Boeing 737 MAX aircraft. In addition, Vistara intends to purchase 60 additional planes. Indigo will then purchase 450 planes.


Additionally, growing regional air passenger traffic is largely attributed to rising disposable income and regional economic growth. The aerospace and defense market will continue to grow over the anticipated timeframe due to the increasing deployment of new-generation aircraft to replace the fleet that is getting older. To draw customers, several regional airline operators are providing discounts on airline tickets has enhanced the Low-Cost Carrier (LCC) Market CAGR ly in recent years.


Low-Cost Carrier (LCC) Market Segment Insights


Low-Cost Carrier (LCC) Aircraft Type Insights


The Low-Cost Carrier (LCC) Market segmentation, based on aircraft type, includes narrow-body and wide-body. The narrow-body segment held the majority share in 2022 concerning the Low-Cost Carrier (LCC) Market revenue. Increased use of narrow-body aircraft by airlines is to blame for the increase. These planes have smaller running costs than wide-body planes, and in this business model, keeping operating costs down is the most critical aspect. These factors give rise to the narrow-body segment in the Low-Cost Carrier (LCC) Market through the forecast period.


Figure 2:  Low-Cost Carrier (LCC) Market by Aircraft Type, 2022 & 2030 (USD billion)Low-Cost Carrier (LCC) Market by Aircraft Type, 2022 & 2030Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Low-Cost Carrier (LCC) Distribution Channels Insights


The Low-Cost Carrier (LCC) Market segmentation, based on distribution channels, includes Online and Travel agencies. The online segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. This is attributed to an increase in the use of online marketplaces for making flight reservations, which save time and money while still offering all relevant flight information and being simple to use. By 2022, the Asia-Pacific region is expected to have the fastest-growing online travel market share, with a value of USD 1,091 billion. The high penetration of online transactions aids the development of a low-cost LCC model. The fast adoption of online shopping has aided labor management and eliminated the need for middlemen in payments, positively impacting the market growth.


Low-Cost Carrier (LCC) Operations Insights


The Low-Cost Carrier (LCC) Market data has been bifurcated by surgery into domestic and international. The domestic segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. The rise is driven by an increase in domestic air travelers and airports in developed nations, which is positively impacting the market growth for Low-Cost Carrier (LCC).


Low-Cost Carrier (LCC) Regional Insights


By Region, the study provides market insights for Low-Cost Carrier (LCC) into North America, Europe, Asia-Pacific and the Rest of the World. North America Low-Cost Carrier (LCC) Market accounted for USD 0.88 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. This is attributed to the growing number of airlines focusing on offering customers convenience and significantly expanding their airline routes, which is helping them gain market share. By expanding geographically and increasing sales, aircraft manufacturers are moving into the area to increase market shares. For instance, Lockheed Martin expanded its North American sales network.


Further, the major countries studied in the market report for Low-Cost Carrier (LCC) are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 3:  LOW-COST CARRIER (LCC) MARKET SHARE BY REGION 2022 (%)LOW-COST CARRIER (LCC) MARKET SHARE BY REGION 2022Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Europe's Low-Cost Carrier (LCC) Market accounts for the second-largest market share. Over the anticipated timeframe, the prominence of low-cost carrier (LCC) will grow, and regional connectivity will also expand. Rising airline frequencies and air traffic drive the region's demand for new aircraft. Additionally, the mushrooming MRO services will significantly influence the industry's growth throughout the study. Expanding their production facilities is another priority for manufacturers as they try to catch up on their backlog of previous orders. To produce the A320 product line, for instance, Airbus opened its fourth production line in Hamburg, Germany, in June 2018. Until the middle of 2019, the company increased production of its single-aisle aircraft by 60 per month thanks to this strategy. Further, the Germany Low-Cost Carrier (LCC) Market held the largest market share, and the UK Low-Cost Carrier (LCC) Market was the fastest-growing market in the European region.


The Asia-Pacific Low-Cost Carrier (LCC) Market is expected to grow at the fastest CAGR from 2022 to 2030. This is because increased aircraft deliveries over the study timeframe will be facilitated by expanding production facilities. For instance, Air China received the first Boeing 737 MAX airliner in December 2018. The growth of regional air connectivity and the opening new air routes are favorably impacting market demand. For instance, to strengthen the regional connection, Japan Airlines began operating new flights in February 2019 between Tokyo Haneda (HND) and Manila using the Boeing 737-800. Moreover, China Low-Cost Carrier (LCC) Market held the largest market share, and the India Low-Cost Carrier (LCC) Market was the fastest-growing market in the Asia-Pacific region


Low-Cost Carrier (LCC) Key Market Players & Competitive Insights


Major market players are spending much money on R&D to increase their product lines, which will help the Low-Cost Carrier (LCC) Market grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Low-Cost Carrier (LCC) industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.


One of the primary business strategies manufacturers adopt in the Low-Cost Carrier (LCC) industry to benefit clients and expand the market sector is manufacturing locally to reduce operating costs. In recent years, Low-Cost Carrier (LCC) industry has provided medicine with some of the most significant benefits. In the Low-Cost Carrier (LCC) Market, major players such as EasyJet Airline Company Limited (UK), AirAsia Berhad (Malaysia), JetBlue Airways Corporation (US), IndiGo (India), Ryanair DAC (Ireland), Norwegian Air Shuttle ASA (Norway), and others, are working on expanding the market demand by investing in research and development activities.


EasyJet Airline Company Limited (UK) has established itself as the top short-haul airline in Europe over the past 25 years. We have a solid foundation from which to continue our upward trajectory. More than any other airline, we connect passengers from over 30 countries via more than 100 of Europe's most popular routes. EasyJet has a robust network of first- and second-place spots in major airports that have proven to be among the highest-yielding in the industry. This makes it easy for easyJet to make effective network decisions focusing on maximizing returns. To ensure that capacity is deployed in the markets with the highest demand and returns, easyJet continues to optimize its network.


Also, SpiceJet Limited (India) The goal of SpiceJet is to become the most popular low-cost carrier (LCC) in India by providing price-conscious customers with the lowest airfares and the best customer value. We want to make everyone's dream of flying come true! India's economy and business are expanding, causing a rise in the population's propensity to travel. Everybody needs to save time and money when traveling, as more and more Indians do so for both business and pleasure. The goal of SpiceJet is to resolve this and make flying accessible to all people. SpiceJet provides reasonable fares and is significantly less expensive than most airlines, thanks to a dynamic fare structure.


Key Companies in the Low-Cost Carrier (LCC) Market include



  • EasyJet Airline Company Limited (UK)

  • AirAsiaBerhad (Malaysia)

  • JetBlue Airways Corporation (US)

  • IndiGo (India)

  • Ryanair DAC (Ireland)

  • Norwegian Air Shuttle ASA (Norway)

  • SpiceJet Limited (India)

  • Southwest Airlines Co (US)

  • WestJet Airlines Ltd (Canada)

  • Spirit Airlines Inc(US).


Low-Cost Carrier (LCC) Industry Developments


For instance,May 2022 Southwest Airlines plans to invest $2 billion in improving the traveler experience. There are significant upgrades on all new aircraft deliveries, such as improved WiFi and power outlets at each seat.


For instance,April 2022 The Jetstar Group and IndiGo announced a new Low-Cost Carrier (LCC) interline partnership in April 2022. As a result, Jetstar customers will now be able to book connections and flights on Indigo services through the Jetstar Connect platform.


Low-Cost Carrier (LCC) Market Segmentation


Low-Cost Carrier (LCC) By Aircraft Type Outlook



  • Wide-body aircraft

  • Narrow-body aircraft


Low-Cost Carrier (LCC) By Distribution Channel Outlook



  • Travel agency

  • Online channels


Low-Cost Carrier (LCC) By Operations Outlook



  • International

  • Domestic


Low-Cost Carrier (LCC)  Regional Outlook




  • North America



    • US

    • Canada




  • Europe



    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe




  • Asia-Pacific



    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific




  • Rest of the World



    • Middle East

    • Africa

    • Latin America



Report Attribute/Metric Details
Market Size 2023 USD 174.6826 billion
Market Size 2024 USD 203.1558638 billion
Market Size 2030 USD 679.934503191597 billion
Compound Annual Growth Rate (CAGR) 16.30% (2024-2030)
Base Year 2022
Market Forecast Period 2024-2030
Historical Data 2018 - 2021
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Aircraft Type, Distribution Channel, Operations, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled EasyJet Airline Company Limited (UK), AirAsia Berhad (Malaysia), JetBlue Airways Corporation (US), IndiGo (India), Ryanair DAC (Ireland), Norwegian Air Shuttle ASA (Norway), SpiceJet Limited (India), Southwest Airlines Co (US), WestJet Airlines Ltd (Canada), Spirit Airlines Inc (US)
Key Market Opportunities Aircraft deliverables in Asia-Pacific are rising, and commercial aircraft production is rising. Tech spending in the industry
Key Market Dynamics Growing demand for air travel around the world Government initiatives to boost regional connectivity The increasing prominence of low-cost carrier (LCC) in Latin America


Frequently Asked Questions (FAQ) :

The Low-Cost Carrier (LCC) Market size was valued at USD 174.6826 Billion in 2023.

The market for Low-Cost Carrier (LCC) is projected to grow at a CAGR of 16.30% during the forecast period, 2024-2030.

North America had the largest share of the market for Low-Cost Carrier (LCC)

The key players in the Low-Cost Carrier (LCC) market are EasyJet Airline Company Limited (UK), AirAsia Berhad (Malaysia), and JetBlue Airways Corporation (US).

The Narrow-body Low-Cost Carrier (LCC) category dominated the market in 2022.

The domestic operations had the largest share of the market for Low-Cost Carrier (LCC).

Leading companies partner with us for data-driven Insights
client_1 client_2 client_3 client_4 client_5 client_6 client_7 client_8 client_9 client_10
Kindly complete the form below to receive a free sample of this Report
Please fill in Business Email for Quick Response

We do not share your information with anyone. However, we may send you emails based on your report interest from time to time. You may contact us at any time to opt-out.

Purchase Option
Single User $ 4,950
Multiuser License $ 5,950
Enterprise User $ 7,250
Compare Licenses
Tailored for You
  • Dedicated Research on any specifics segment or region.
  • Focused Research on specific players in the market.
  • Custom Report based only on your requirements.
  • Flexibility to add or subtract any chapter in the study.
  • Historic data from 2014 and forecasts outlook till 2040.
  • Flexibility of providing data/insights in formats (PDF, PPT, Excel).
  • Provide cross segmentation in applicable scenario/markets.