PUBLISHER: MarketLine | PRODUCT CODE: 1590383
PUBLISHER: MarketLine | PRODUCT CODE: 1590383
Global Airlines industry profile provides top-line qualitative and quantitative summary information including: industry size (value and volume , and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the industry.
Airlines industry covers passenger air transportation, including scheduled flights but excludes air freight transport. Industry volume is defined as the total number of seats sold by airlines registered in a particular country or region. Industry value is defined as the total airline revenue generated from passenger traffic. It is calculated by multiplying the average revenue per passenger by the number of seats sold.
The market segments include charter, low-cost, and full-service airlines. Charter airline is hired by a group or single customer for leisure or business purposes, or as an air ambulance, and flies outside normal schedules. Airlines classified as non-scheduled by civil aviation organizations fall into this category. Low-cost airlines offer lower fares by eliminating many traditional services. To recover the revenue lost in reduced ticket prices, the airlines may charge for additional facilities such as priority boarding, seat allocation, food, and baggage. Full-service airlines generally have higher fares, operate long-distance routes, and offer a complete range of in-flight services.
All market data and forecasts are adjusted for inflation and all currency conversions used in the creation of this report have been calculated using yearly annual average exchange rates.
The global airlines industry had total revenues of $1,128.3 billion in 2023, representing a compound annual growth rate (CAGR) of 1.8% between 2018 and 2023.
Industry consumption volumes declined with a negative CAGR of 0.5% between 2018 and 2023, to reach a total of 53,39,675.0 thousand number of seats in 2023.
In 2023, North America accounted for a 34.0% share in the global airlines industry, making it the largest market. It was followed by Europe and Asia-Pacific with a share of 29.5% and 26.7% respectively.