Flights - Asia | Statista Market Forecast

Flights - Asia

Asia

Highlights

In 2024, the Flights market in Asia is expected to generate a whopping revenue of US$255.80bn.
The revenue is projected to grow annually at a rate of 6.11% between 2024 and 2029, resulting in a market volume of US$344.00bn by 2029.
By 2029, the number of users in this market is expected to reach 850.70m users.
In 2024, user penetration is projected to be 13.6%, which is expected to increase to 18.2% by 2029.
The average revenue per user (ARPU) is estimated to be US$415.40.
By 2029, a significant portion of the total revenue, i.e., 87%, is expected to be generated through online sales.
United States is projected to generate the highest revenue in the global comparison, with US$143bn in 2024.
The demand for domestic flights in India is rapidly increasing, driven by the growth of low-cost carriers and a rising middle class.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Flights market in Asia has been experiencing significant growth and development in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this positive trend. Customer preferences in the Flights market in Asia have shifted towards convenience and affordability. With the rise of low-cost carriers and online travel agencies, customers are now able to find and book flights easily and at competitive prices. The increasing use of mobile apps and online platforms has also made it more convenient for customers to search for flights, compare prices, and make bookings. As a result, more people are choosing to travel by air, leading to a higher demand for flights in the region. Trends in the market have also played a significant role in the development of the Flights market in Asia. One major trend is the expansion of airline networks and routes. Airlines are constantly adding new destinations and increasing flight frequencies to cater to the growing demand for air travel. This has made it easier for customers to access a wider range of destinations and has contributed to the overall growth of the market. Another trend in the Flights market in Asia is the increasing popularity of budget travel. More people are looking for affordable travel options, and low-cost carriers have emerged to meet this demand. These airlines offer lower fares compared to traditional full-service carriers, making air travel more accessible to a larger segment of the population. This trend has led to increased competition in the market and has forced traditional airlines to adjust their pricing strategies to remain competitive. Local special circumstances also play a role in the development of the Flights market in Asia. For example, the geographical size and diversity of the region have led to a high demand for domestic and regional flights. Countries in Asia have large populations and vast territories, making air travel a convenient and efficient mode of transportation. Additionally, the increasing middle-class population in many Asian countries has led to a higher disposable income and a greater willingness to spend on travel. Underlying macroeconomic factors have also contributed to the growth of the Flights market in Asia. Economic growth in the region has led to an increase in disposable income and a higher standard of living. This has resulted in more people being able to afford air travel and has fueled the demand for flights. Additionally, the rise of tourism in Asia has also contributed to the growth of the Flights market. As more tourists visit the region, the demand for flights to and within Asia has increased. In conclusion, the Flights market in Asia has experienced significant growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The shift towards convenience and affordability, the expansion of airline networks, the rise of budget travel, the demand for domestic and regional flights, and the economic growth in the region have all contributed to the positive trend in the market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of flights.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, third-party studies and reports, federal statistical offices, industry associations, and price data. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as demographic data, GDP, consumer spending, internet penetration, and device usage. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.