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The Flights market in EU-27 is experiencing significant developments and trends.
Customer preferences: Customers in the EU-27 region have shown a strong preference for air travel due to its convenience and speed. With the increasing affordability of flights, more people are choosing to travel by air for both business and leisure purposes. The availability of a wide range of airlines and flight options has also contributed to the growing demand for flights in the region.
Trends in the market: One major trend in the EU-27 flights market is the rise of low-cost carriers. These airlines offer affordable fares and have gained popularity among budget-conscious travelers. The presence of low-cost carriers has intensified competition in the market, leading to lower prices and more flight options for customers. Additionally, there has been a growing trend of airlines offering ancillary services such as seat selection, baggage allowance, and in-flight meals for an additional fee, allowing customers to customize their travel experience. Another trend in the market is the increasing popularity of online booking platforms. Customers in the EU-27 region are increasingly using online platforms to search for and book flights. These platforms offer convenience and transparency, allowing customers to compare prices and choose the best flight options for their needs. The rise of online booking platforms has also led to increased price transparency, making it easier for customers to find the best deals.
Local special circumstances: Each country in the EU-27 region has its own unique characteristics and circumstances that influence the flights market. For example, countries with popular tourist destinations, such as Spain and Italy, experience high demand for flights during peak travel seasons. On the other hand, countries with strong business hubs, such as Germany and the United Kingdom, have a high demand for business travel throughout the year. Additionally, countries with multiple airports, such as France and the Netherlands, have a more diverse range of flight options for customers.
Underlying macroeconomic factors: The development of the flights market in the EU-27 region is also influenced by underlying macroeconomic factors. Economic growth and stability play a significant role in determining the demand for flights. When the economy is strong, people have more disposable income and are more likely to travel by air. On the other hand, during economic downturns, people may cut back on travel expenses, leading to a decrease in demand for flights. Additionally, factors such as exchange rates, fuel prices, and government regulations can also impact the flights market in the EU-27 region.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)