Flights - Turkey | Statista Market Forecast

Flights - Turkey

Turkey

Highlights

Turkey is expected to see a significant growth in revenue in the Flights market in the coming years.
By 2024, the revenue is projected to reach US$9.04bn, and this is expected to grow annually at a rate of 7.17%, resulting in a market volume of US$12.79bn by 2029.
The number of users in this market is also projected to increase steadily, reaching 16.88m users by 2029.
In terms of user penetration, the Flights market is expected to have a penetration rate of 16.5% in 2024, which is expected to increase to 19.1% by 2029.
This indicates a significant potential for growth in the market.
The average revenue per user (ARPU) is expected to be US$635.70, indicating a good potential for revenue generation per user.
Online sales are expected to contribute significantly to the revenue in the Flights market, with 87% of the total revenue projected to be generated through online sales by 2029.
It is interesting to note that in global comparison, United States is expected to generate the highest revenue in the Flights market, with a projected revenue of US$143bn in 2024.
However, Turkey's growth in this market is also significant and cannot be ignored.
The Turkish flight market has seen a surge in demand for domestic travel due to the pandemic, while international travel remains restricted.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Flights market in Turkey has been experiencing significant growth in recent years, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.

Customer preferences: In Turkey, there has been a growing preference for air travel among customers. This can be attributed to several factors, including the increasing affordability of flights, the convenience and time-saving benefits of air travel, and the desire to explore new destinations both domestically and internationally. Additionally, the rise of low-cost carriers has made air travel more accessible to a wider range of customers, further fueling the demand for flights in the country.

Trends in the market: One of the key trends in the Flights market in Turkey is the increasing number of domestic and international airlines operating in the country. This has led to greater competition among airlines, resulting in more affordable fares and a wider range of flight options for customers. Furthermore, there has been a shift towards online booking platforms, with more customers choosing to book their flights online for convenience and to take advantage of exclusive deals and discounts. Another trend in the market is the expansion of airport infrastructure in Turkey. The country has invested heavily in the development of new airports and the expansion of existing ones, such as Istanbul Airport, which has become one of the busiest airports in the region. This has not only increased the capacity for flights but has also attracted more airlines to operate in Turkey, further boosting the market.

Local special circumstances: Turkey's geographical location, straddling Europe and Asia, has made it a popular transit hub for international flights. This has contributed to the growth of the Flights market in the country, as airlines have recognized the strategic importance of connecting flights through Turkey. Additionally, Turkey's rich cultural heritage and natural beauty have made it an attractive tourist destination, attracting both domestic and international travelers.

Underlying macroeconomic factors: The Turkish economy has been growing steadily in recent years, with a rising middle class and increasing disposable income. This has led to a greater demand for travel and tourism, including flights. Furthermore, the government has implemented policies to promote tourism and attract foreign investment, which has had a positive impact on the Flights market in Turkey. In conclusion, the Flights market in Turkey is experiencing growth due to customer preferences for air travel, market trends such as increased competition and online booking platforms, local special circumstances including its strategic location and tourist attractions, and underlying macroeconomic factors such as a growing economy and government policies to promote tourism. As a result, the market is expected to continue to 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.