Flights - Brunei Darussalam

Brunei Darussalam

Highlights

It is projected that the Flights market in Brunei Darussalam will reach a revenue of US$29.05m by 2024.
Furthermore, the revenue is predicted to show an annual growth rate (CAGR 2024-2029) of 2.87%.
As a result, the projected market volume is expected to increase to US$33.47m by 2029.
The number of users in this market is expected to amount to 67.96k users by 2029.
Additionally, it is projected that the user penetration will be 12.2% in 2024 and 14.4% by 2029.
The average revenue per user (ARPU) is expected to be US$524.50.
It is also expected that 90% of the total revenue generated in this market will be through online sales by 2029.
In comparison to other countries, United States is expected to generate the most revenue in the global Flights market with US$143bn in 2024.
Brunei Darussalam's flight market is primarily dominated by Royal Brunei Airlines, offering direct flights to key destinations in Asia and Australia.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Flights market in Brunei Darussalam has been experiencing significant growth in recent years, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Brunei Darussalam have played a crucial role in the development of the Flights market. Bruneians have shown a growing interest in traveling both domestically and internationally, leading to an increased demand for flights. This can be attributed to factors such as rising disposable incomes, improved connectivity, and a desire for new experiences. Additionally, Bruneians have shown a preference for convenient and hassle-free travel options, which has further fueled the demand for flights. In terms of market trends, the Flights market in Brunei Darussalam has witnessed the emergence of new airlines and the expansion of existing ones. This has resulted in increased competition and a wider range of flight options for customers. The introduction of low-cost carriers has also made air travel more accessible and affordable for a larger segment of the population. Moreover, advancements in technology have made it easier for customers to search for and book flights online, further driving the growth of the market. Local special circumstances have also contributed to the development of the Flights market in Brunei Darussalam. As a small country with limited land connectivity, air travel has become a vital mode of transportation for both domestic and international travel. Brunei Darussalam is strategically located in Southeast Asia, making it a convenient hub for connecting flights to other countries in the region. This has attracted airlines to establish routes and increase their presence in the country, further boosting the Flights market. Underlying macroeconomic factors have also played a significant role in the development of the Flights market in Brunei Darussalam. The country's strong economic growth, driven by its oil and gas industry, has led to an increase in business and leisure travel. Additionally, the government's efforts to promote tourism and attract foreign investment have contributed to the growth of the Flights market. Brunei Darussalam's political stability and safety have also made it an attractive destination for both tourists and business travelers. In conclusion, the Flights market in Brunei Darussalam has experienced significant growth due to various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The increasing demand for convenient and hassle-free travel options, the emergence of new airlines, advancements in technology, and the country's strategic location have all contributed to the development of the market. With continued economic growth and government support, the Flights market in Brunei Darussalam is expected to further expand in the coming years.

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.