Press Release

Full Service Carrier Market Valued at USD 290 Billion in 2023, Projected 5.2% CAGR to 2030

The Global Full Service Carrier Market size was valued at around USD 290 billion in 2023 and is anticipated to grow at a CAGR of around 5.2% during 2024-30, cites MarkNtel Advisors in their recent research report. The wide range of services, including in-flight entertainment, checked baggage allowance, meals & beverages, and choice of seat selection, provided by the full-service market, attract business travelers, and leisure travelers, focusing on the improvement in comfort, and convenience for travelers, and for extensive routes in domestic and international network routes.

Adding to this, the rising globalization of the market and corporate travel, add to the push to the demand of the full-service carrier market, as the full-service carriers have the potential to meet the needs of business travelers and can provide the facilities according to their preferences. With rising globalization, business travelers have to frequently visit different countries and full-service carriers fulfill their requirements during the journey and make the journey enjoyable and easy by providing services like entertainment and meals.

The advances related to digitalization and automation can also potentially help in optimizing and a reduction in operational costs and lead to operational efficiency. The advancements in technology can be leveraged in many things like in aircraft design, in creating technologies & services that are fuel efficient, and in reducing operational costs by advances in maintenance systems. Along with these, there is rising competition from low-cost carriers and budget airlines in the market, that don’t provide many services, but with few additional services, they attract travelers by offering lower prices.

Further, the increasing disposable income and improving the economic condition of individuals around the globe, providing extra discretionary income to individuals that they can spend on their comforts and convenience, and that also increased their standard to afford full-service carrier facilities and premium class travels, is another aspect fuelling the demand for full-service carriers across the globe, further states the research report, Global Full-Service Carrier Market Analysis, 2024.”

Global Full Service Carrier Market Segmentation Analysis

The In-Flight Entertainment Segment Holds the Largest Market Share

Based on the Service Type, the market is further bifurcated into in-flight entertainment, meals, beverages, comfort, and others. However, in-flight entertainment services have held the largest share of the Global Full-Service Carriers Market in recent times and are also expected to hold the same in the forecast period as well. The growing preference for entertainment and leisure, and varied services offered by the full-service market players such as TV shows, varied selection of movies, interactive games, and setback screens are among the key drivers of the growth of this segment. The emphasis on offering on-demand content, live television, and Wi-Fi connectivity makes the overall journey enjoyable for travelers.

 North America to Lead the Full-Service Carrier Industry

The biggest share over the forecast period is expected to be held by North America in the Full-Service Carrier Industry across the Globe. The large and affluent income consumers are driving this market with their high disposable incomes and the financial stability of a significant ratio of North American travelers enables them to afford premium class services offered by the full-service airlines. Rapidly growing development in the aviation industry of the region, and having an extensive operational route for domestic and international travel, is also widening the market growth in North America. Thus, during the forecast period, this region is anticipated to lead the Full-Service Carrier Industry with the largest market share.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including American Airlines Group, Air China, All Nippon Airways, British Airways, United Airlines, Turkish Airlines, Delta Air Lines, Emirates, Etihad Airways, China Eastern Airlines, China Southern Airlines, Lufthansa Group, IAG International Airlines Group, Singapore Airlines, and others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the globe?
4. How has the industry been evolving in terms of geography & service adoption?
5. How has the competition been shaping up across various regions?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?