Flights - Iraq | Statista Market Forecast

Flights - Iraq

Iraq

Highlights

The Flights market in Iraq is predicted to observe a surge in revenue from US$2.62bn in 2024.
With an annual growth rate (CAGR 2024-2029) of 7.54%, the revenue is projected to reach US$3.76bn by 2029.
It is anticipated that the number of users in the Flights market will reach 11.38m users by 2029.
The user penetration is expected to increase from 15.8% in 2024 to 22.0% by 2029.
The average revenue per user (ARPU) is estimated at US$356.40.
Moreover, it is anticipated that 98% of the total revenue in the Flights market will be generated through online sales by 2029.
It is noteworthy that United States is expected to generate the highest revenue among other countries worldwide, amounting to US$143bn in 2024, in the same market.
Despite ongoing security concerns, the demand for flights in Iraq has been steadily increasing as the country continues to rebuild its infrastructure.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Flights market in Iraq has been experiencing significant growth in recent years, driven by a combination of factors such as increasing customer preferences for air travel, emerging trends in the market, and local special circumstances. Additionally, underlying macroeconomic factors have played a role in shaping the development of the Flights market in Iraq.

Customer preferences: Customer preferences for air travel have been a key driver of the growth in the Flights market in Iraq. As the country continues to rebuild and stabilize, there is a growing demand for convenient and efficient means of transportation. Air travel offers a faster and more reliable option compared to other modes of transportation, making it an attractive choice for both domestic and international travelers. Additionally, with the increasing availability of budget airlines and competitive pricing, air travel has become more accessible to a wider range of customers.

Trends in the market: One of the prominent trends in the Flights market in Iraq is the expansion of airline routes and destinations. Airlines are continuously adding new routes and increasing the frequency of flights to cater to the growing demand. This trend is driven by the increasing number of travelers, both for business and leisure purposes, as well as the desire to connect Iraq with other countries and regions. Additionally, there has been a rise in the popularity of low-cost carriers, which offer affordable options for travelers and contribute to the overall growth of the market.

Local special circumstances: Iraq's geographic location and its rich historical and cultural heritage make it an attractive destination for tourists. The country is home to numerous archaeological sites, ancient cities, and religious landmarks, which draw visitors from around the world. The tourism industry in Iraq has been steadily growing, and this has had a positive impact on the Flights market. Airlines are recognizing the potential of the Iraqi market and are expanding their operations to cater to the increasing number of tourists.

Underlying macroeconomic factors: The stabilization of Iraq's political situation and the gradual improvement of security conditions have created a more favorable environment for business and tourism. The government has been implementing measures to attract foreign investments and promote economic growth, which has had a positive impact on the Flights market. Additionally, the growth of the oil industry in Iraq has contributed to the overall economic development of the country, leading to increased business travel and foreign direct investment. In conclusion, the Flights market in Iraq is experiencing significant growth due to increasing customer preferences for air travel, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. As the country continues to stabilize and develop, the Flights market is expected to further expand, offering more options and opportunities for both domestic and international travelers.

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.