Full Service Airlines Market Analysis by Region, Key Trends, Deals and Company Profiles
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Full Service Airlines Market Report Overview
Full-service airline market had a revenue share of $650.83 billion in 2022. Although the revenue is lower than the pre-pandemic level in 2019, it is gradually recovering as countries worldwide have started easing COVID-19-induced restrictions and encouraging travel. This will stimulate growth and is likely to propel the market to grow at a CAGR of more than 15% from 2022 to 2027.
Full-service Airlines Market Outlook, 2022-2027 ($ Billion)
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The full-service airlines market research report provides an in-depth analysis of the key market trends that will shape the market in the coming years. It also gives insights into the major deals and provides company snapshots of a few of the major market participants.
Market Revenue (2022) | $650.83 Billion |
CAGR (2022-2027) | >15% |
Key Regions | · Americas
· Asia-Pacific · Europe · Middle East · Africa |
Key Countries | · The US
· The UK · Italy · Japan · China |
Key Companies | · Deutsche Lufthansa AG
· Delta Air Lines · Emirates · Singapore Airlines · Qantas Airways Limited |
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Full-service Airlines Market Trends
- Airlines are taking steps to enhance aircraft sustainability as the industry’s phenomenal rise has made it one of the fastest-growing sources of greenhouse gas emissions. Some measures taken include cutting carbon emissions, increasing the use of sustainable aviation fuel, decreasing the use of single-use plastics, and utilizing carbon capture technology. That being said,
- One major factor driving the expansion of the full-service airline industry globally is the rising demand for luxury travel. The demand for air travel has increased in nations such as the US, China, France, Indonesia, Japan, and India. In these nations, FSCs have to strike a compromise between the demands of their customer base for luxury and economy services.
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Full-service Airlines Market Segmentation by Regions
In 2022, the Americas led the largest full-service airline market.
The key regions in the full-service airlines market are the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The US was the major contributor to the American full-service airline market revenue in 2022. This can be attributed to several factors such as the extensive use of artificial intelligence (AI), machine learning (ML), and data analytics technologies to enhance in-flight entertainment systems and offer passengers tailored recommendations based on their needs.
Full-service Airlines Market Analysis by Regions, 2022 (%)
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Full-service Airlines Market – Competitive Landscape
Some of the leading companies in the full-service airline market are:
- Deutsche Lufthansa AG
- Delta Air Lines
- Emirates
- Singapore Airlines
- Qantas Airways Limited
Qantas Airways Limited: It offers transportation and freight services along with its affiliates and partner companies. The company provides domestic and international passenger transportation services; and air cargo, courier, baggage and forwarding, and express freight services. Qantas also offers auto check-in, automated bag drops and kiosk check-in, online retailing and boarding, travel updates, inflight services, and loyalty and recognition programs through bronze, silver, gold, platinum, and platinum-one memberships. It operates through two brands, namely, Qantas and Jetstar. The company offers worldwide air transportation services from Australia and New Zealand. Qantas is headquartered in Mascot, New South Wales, Australia.
Full-service Airlines Market Analysis by Companies, 2022
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Full-service Airlines Market –Latest Developments
- In August 2023, Qantas Airways Limited along with Airbus, Breakthrough Energy, Boom Supersonic, World Energy, and others entered into a partnership to support the decarbonization of the aviation sector.
- In June 2023, Singapore Airlines announced the launch of promo fares to Busan, Seoul, Nagoya, and others.
Scope
GlobalData’s Full Service Airlines market report provides an in-depth analysis of the key market trends that are shaping the future of this segment and an analysis of the full-service airline market globally. Detailed market insight is provided on the Americas, Asia-Pacific, Middle East, Africa, and Europe. It also features profiles of some of the segment’s leading players and looks at how companies can better meet their customers’ needs. It also assesses the impact of COVID-19 on the industry.
Key Highlights
Due to the COVID-19 pandemic, the FSC revenue was negatively impacted due to travel restrictions, with various countries worldwide imposing lockdowns and travel restrictions. Due to the COVID-19 impact, Global FSC revenue reached $223.97 billion during 2020 and started recovering in 2021, to reach $327.04 billion as various countries started initiation of large-scale vaccination drives to reduce COVID spread. In 2022, revenue was $650.83 billion. However, the revenue is lower than the pre-pandemic level in 2019.
During 2022, growth in air passenger traffic stimulates growth in the full-service carrier market, due to which the load factor has reached 77.71%. As per GlobalData, it is expected that the load factor is expected to reach its pre-pandemic level in 2024 (82.80%) and to reach 83.63% in 2027.
During 2022, the number of seats sold for leisure purposes in Africa was 53.29 million, which contributed 88.99% of Africa’s FSC seats sold, followed by business purposes with a contribution of 11.01% (6.59 million). However, the number of seats sold was lower than the pre-pandemic level.
In 2022, the number of FSC seats sold globally hit 2,592.35 million, which increased by 822.87 million in comparison with 2021. However, the number of seats sold in 2022 remained lower than the pre-pandemic level. As per GlobalData, it is expected that the global FSC seats sold will reach 4,844.56 million in 2027, with a CAGR of 13.32% from 2022 to 2027.
Reasons to Buy
- Understand the impact of COVID-19 on this market
- Gauge which are the biggest and most promising regional markets for the FSC market
- Understand the demand-side dynamics within the industry to identify key trends and growth opportunities
- Gain an understanding of the outlook for regional markets and learn from existing successes and our recommendations
Table of Contents
Figures
Frequently asked questions
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What was the revenue of the full-service airlines market in 2022?
Full-service airline revenue was $650.83 billion in 2022.
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What is the full-service airline market growth rate?
The full-service airline market is expected to grow at a CAGR of more than 15% from 2022 to 2027.
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Which was the leading region in the full-service airlines market in 2022?
In 2022, the Americas was the leading region in the full-service airline market.
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What are the key companies associated with the full-service airline market?
Some of the key companies associated with the full-service airlines market are Deutsche Lufthansa AG, Delta Air Lines, Emirates, Singapore Airlines, and Qantas Airways Limited.
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