Full Service Carrier Market Prognosticated To Escalate With a Staggering CAGR; MRFR Unleashes Industry Insights Up To 2023
Market Research Future Published a Cooked Research “Global Full Service Carrier Market Research Report – Forecast to 2021” – Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2021.
Pune, India – April 27, 2018 /MarketersMedia/ —
Full Service Carrier Market – Overview:
The global market for full service carriers is increasing at a rapid pace. According to a recent study report published by the Market Research Future, The global market of full service carrier will grow at a rapid pace over the forecast period. The market is forecasted to witness a slow but steady growth by 2023, which will be a surplus growth at a moderate CAGR during the projected period (2017 -2023).
However, the market faces certain challenges, such as a shortage of slots at the major airports, high fuel costs, and economic uncertainty that adversely affect the highly competitive low-margin business of FSCs. Also, with the narrowing of the gap between LCCs and FSCs, in terms of operations and services, LCCs are bound to compete directly with FSCs on several air routes. FSCs also need to be cautious about their expansion plans to maintain lean business and operating models, thus allowing them to be efficient and competitive in the market.
As per the market estimates, APAC will likely have an annual average growth of 6.3% in passenger traffic for the next 20 years. It is estimated that almost 50% of global air passenger traffic over the next 20 years will originate from APAC. APAC will likely account for the most air passenger traffic by 2035, overtaking North America and Europe. In 2014, APAC accounted for about 34% of the global air passengers. The region has witnessed one of the highest growth rates in the global aviation industry and will likely drive the industry for the next two decades, as demand becomes saturated in mature markets such as Europe and North America. With a population of more than four billion people, APAC is home to 60% of the global population. Growth in GDP and increasing purchasing power in the region, mainly fuelled by emerging countries such as China and India, contribute to an increased demand for air travel.
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Key Players
American Airlines,
China Eastern Airlines,
China Southern Airlines,
Delta Airlines,
United Airlines,
Air China,
Air France, All Nippon Airways, British Airways, China Eastern Airlines, Emirates, Lufthansa, and Turkish Airlines.
As per case study, Jet Airways’ upgraded programme has five tiers which entitles members to enjoy benefits like access to exclusive lounges, higher baggage allowance, priority check-in and waiver of certain fees. Faster upgrades or easier retention of existing tier, along with the enhancements and benefits are all aimed to ensure deeper guest engagement with and loyalty towards Jet Airways.
The Global Full Service Carrier Market is expected to grow at a CAGR of around 4% during 2016-2021. Factors driving the market are growing demand from emerging market, attractive & customized offers for better passenger experience, and growth in scheduled air passenger traffic.
Industry/ Innovation/ Related News:
November, 2017:- It was reported that Singapore Airlines Ltd., the first carrier to install a double bed in the aircraft cabins, would invest USD 850 million to refit all of its Airbus SE A380 jets, to enhance the passenger experience.
March, 2015 – HAECO Cabin Solutions, a unit of the HAECO Group, was awarded a comprehensive aircraft fleet modification program by Air Canada. It included complete design engineering, certification, and installation of the aircraft interiors on 18 Boeing 777-200 and -300 aircraft.
Full Service Carrier Market – Segments
For the convenience of the report and enhanced understanding; the full service carrier market is segmented in to two key dynamics:
Segmentation by Airline Class: Business Class, First Class, Premium Economy Class, and Economy Class.
Segmentation by Regions: Comprises Geographical regions –Americas, Europe, APAC and Middle East and Africa.
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Regional Analysis
As per the market estimates, APAC will likely have an annual average growth of 6.3% in passenger traffic for the next 20 years. It is estimated that almost 50% of global air passenger traffic over the next 20 years will originate from APAC. APAC will likely account for the most air passenger traffic by 2035, overtaking North America and Europe. In 2014, APAC accounted for about 34% of the global air passengers. The region has witnessed one of the highest growth rates in the global aviation industry and will likely drive the industry for the next two decades, as demand becomes saturated in mature markets such as Europe and North America. With a population of more than four billion people, APAC is home to 60% of the global population. Growth in GDP and increasing purchasing power in the region, mainly fuelled by emerging countries such as China and India, contribute to an increased demand for air travel. Meanwhile, other East Asian countries have also witnessed rapid growth in air traffic; they are thus lucrative markets for full service carriers.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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Contact Info:
Name: Abhishek sawant
Organization: Market Research Future
Phone: +1 646 845 9312
For more information, please visit https://www.marketresearchfuture.com/reports/full-service-carrier-market-1567
Source: MarketersMedia
Release ID: 337924
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