Flights - Sweden | Statista Market Forecast

Flights - Sweden

Sweden

Highlights

Sweden is projected to generate a revenue of US$3.15bn in the Flights market by 2024.
It is expected to exhibit a CAGR of 3.14%, resulting in a projected market volume of US$3.68bn by 2029.
The number of users in this market is estimated to reach 4.21m users by 2029 with user penetration projected at 33.3% in 2024 and 38.4% by 2029.
The average revenue per user (ARPU) is expected to be US$888.10.
It is anticipated that 86% of the total revenue in the Flights market will be generated through online sales by 2029.
It is noteworthy that United States is projected to generate the highest revenue in the Flights market globally, with US$143bn in 2024.
Sweden's flight market has seen an increase in demand for sustainable aviation fuel as the country aims to become carbon neutral by 2045.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Flights market in Sweden has experienced significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Customers in Sweden have shown a growing preference for affordable and convenient travel options. This has led to an increase in demand for low-cost carriers, which offer competitive prices and flexible schedules. Additionally, there is a rising interest in sustainable travel, with customers opting for airlines that prioritize environmental initiatives and carbon offset programs. Moreover, travelers in Sweden value quality service and a seamless travel experience, leading to an increased demand for airlines that provide personalized services and modern amenities.

Trends in the market: One noticeable trend in the Flights market in Sweden is the rise of online travel agencies and metasearch engines. Customers are increasingly using these platforms to compare prices, book flights, and manage their travel itineraries. This trend has led to increased competition among airlines, as they strive to offer the best deals and incentives to attract customers. Another trend is the growing popularity of domestic travel within Sweden. With its diverse landscapes and attractions, more Swedes are choosing to explore their own country, leading to an increase in domestic flight bookings.

Local special circumstances: Sweden's geographical location and its extensive network of airports contribute to the development of the Flights market. The country's numerous regional airports make it easier for travelers to access different parts of Sweden, including remote areas. Additionally, Sweden's well-developed infrastructure and efficient transportation system make it convenient for travelers to connect to international destinations. The presence of major airlines and low-cost carriers in Sweden further enhances the accessibility of flights for both domestic and international travelers.

Underlying macroeconomic factors: The Flights market in Sweden is influenced by various macroeconomic factors. Sweden has a strong economy and a high standard of living, which allows for increased discretionary spending on travel. Additionally, the country's stable political environment and favorable business climate attract foreign investment, leading to increased business travel. Furthermore, Sweden's tourism industry has been growing steadily, with more international tourists choosing to visit the country. These factors contribute to the overall growth and development of the Flights market in Sweden. In conclusion, the Flights market in Sweden is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The demand for affordable and convenient travel options, the rise of online travel agencies, and the popularity of domestic travel are driving the market forward. Sweden's geographical location, extensive airport network, and strong economy further contribute to the development of the Flights 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.