- The key vendors in the Global Low Cost Carrier Market 2015-2019 are EasyJet, JetBlue Airways, Ryanair and Southwest Airlines.
London, 20 January 2015: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global Low Cost Carrier Market 2015-2019. The launch of fuel efficiency initiatives is a major trend in the market. These initiatives help in reducing fuel costs and increase the operating efficiency of an airline. LCCs have been a force behind the large number of orders for new aircraft and the implementation of several fuel-efficient measures. The Global Low-cost Carrier market is expected to grow at a CAGR of 10.42 percent during the period 2015-2019.
LCCs have a dynamic pricing policy, with discounts and promotional offers. They can offer such competitive airfares as they reduce operational costs by implementing measures such as operating homogeneous fleets of aircraft and excluding free meals and drinks from their services. The majority of LCCs cater to the Passenger Services segment. These airlines mainly operate ‘point-to-point’ destinations through their respective secondary airports.
“Ancillary revenue has become an important source of income for LCCs in Europe, the US, and other regions worldwide,” says Faisal Ghaus, Vice President of TechNavio Research.
“Ryanair, currently the second largest LCC in the world, has ancillary revenue sources such as pay-per-view entertainment, onboard products, internet gaming, and even car hire services for its passengers.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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