DUBLIN, Nov. 30, 2023 /PRNewswire/ — The “Airlines Global Market Report 2023” has been added to ResearchAndMarkets.com’s offering.

The global airlines market is expected to grow from $483.34 billion in 2022 to $520.20 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The airlines market is expected to reach $708.48 billion in 2027 at a CAGR of 8.0%.

An increase in the number of air passengers is expected to propel the growth of the airline market going forward. Air travel can have a significant impact on a region’s social and economic development as well as its sustainability. For instance, according to the International Air Transport Association (IATA), a Canada-based trade association of the world’s airlines estimates the number of passengers is expected to reach 4 billion in 2024. The total number of travelers in 2021 was 47% higher than in 2019. Hence increase in the number of air passengers is driving the growth of the airline market.

Strategic partnerships are a key trend gaining popularity in the airline market. Many companies operating in the airline market are undergoing partnerships to strengthen their position in the airline market.

For instance, in January 2023, Air France-KLM Group, a France-based airline company, partnered with Delta airlines, a US-based airline company and Virgin Atlantic, a UK-based airline company launched the world’s leading partnership. With the new alliance, passengers would be able to book more flexible flight times and both parties will work towards making flying with any airline easy and reliable.

The airline market includes revenues earned by entities by providing services such as meals, refreshments, checked bags, light entertainment and amenities. 

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

Report Scope

Markets Covered:

• By Type Of Transport: Domestic; International
• By Size: Narrow Body; Wide Body; Regional And Business Jet; Freighter
• By Application: Passenger; Freight

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Company Profiles

• Air France-KLM S.A.
• American Airlines Group 
• Ana Holdings
• British Airways
• Delta Air Lines
• Deutsche Lufthansa
• Hainan Airlines
• Japan Airlines
• LATAM Airlines
• Qantas Airways
• Ryanair DAC
• Singapore Airlines
• Southwest Airlines
• Thai Airways International
• United Airlines Holdings
• WestJet Airlines

For more information about this report visit https://www.researchandmarkets.com/r/r5fgcn

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SOURCE Research and Markets