At 12.04% CAGR, the global Airline Booking Platform market is estimated to accumulate US$ 10,303.88 million by 2027, says The Insight Partners

 

Airline Booking Platform Market to 2027 - Global Analysis and Forecasts by Type (OTA and Ticket Comparison Engine), by Application (International and Domestic Airline Booking)

Rising Number of Air Travellers Globally is Driving the Airline Booking Platform market

 

Latest market study on “Airline Booking Platform Market to 2027 by Type (OTA and Ticket Comparison Engine), by Application (International and Domestic Airline Booking); – Global Analysis and Forecast”, the airline booking platform market is estimated to reach US$ 8,852.77 Mn by 2027 from US$ 3,601.05 Mn in 2018. The report includes a key understanding of the driving factors of this growth and also highlights the prominent players in the market and their developments.

 

The rising demand for air travel continuously has led several countries to witness an increase in the number of airline booking platforms in recent years. The increasing demand for air travel has also forced the adoption of technologically advanced platforms to book various travel services such as ticket booking, car rentals, hotel reservations, and many more. The abrupt growth of the commercial aviation sector is majorly attributed to the tremendous rise in the number of air travelers, both business and leisure passengers.. Factors such as increased use of mobile apps by travelers, escalating demand for online airline booking in emerging economies is driving the airline booking platform market. Continued strong economic growth, developments in household incomes, and favorable population and demographic profiles are collectively bringing evolution in this region. In APAC, travelers have an unexpected degree of freedom, especially regarding flight bookings, while making travel plans. Growing online booking demand from travelers in this region, specifically from China and India, are changing travel dynamics and putting a force on availability in popular countries such as Sydney, Singapore, and Bangkok is expected to create new opportunities for the global airline booking platform market during the forecasted period.

 

Europe is home to one of the largest aviation sectors in the world. Similar to North America, the most preferred mode of transportation in Europe for domestic as well as international conveyance is air travel. The airlines in the European countries, irrespective of full service or low-cost airlines, are facing extreme pressure in terms of passenger volume. This is influencing the companies to procure a high number of aircraft. Moreover, the strong economy of Europe and higher individual disposable incomes lay a robust platform for the business of the aerospace industry. Almost more than half of the metropolitan population in Western Europe opts for air transportation. Such above-mentioned factors is expected to fuel the growth of the airline booking platform market in Europe.

 

The strong economy of North America has attracted air passenger traffic as well as driven the expansion of Canadian carriers. Further, a steady demand in the outbound, as well as inbound traffic to and from North America, has resulted in the healthy position of North America in the global airline booking platform market. As per IATA, air passenger traffic of North America is expected to grow at 2.4% yearly, and the number of these passengers is projected to reach ~1.4 Bn by 2037. Thus, growth in the number of passengers is anticipated to influence the airline booking platform market positively.

 

The global market for airline booking platform market is segmented based on the parameters such as type, application, and geography. Based on type, the online travel agency (OTA) segment dominates the airline booking platform market heavily and is expected to dominate the market in the forecast period from 2019 – 2027. On the basis of application, the domestic airline booking segment led the market in 2018 with a maximum market share and is expected to continue its dominance during the forecast period. Key players operating in the market are partnering with the small as well as large and other companies which are helping them to gain customer traction. The major companies offering airline booking platform market include KAYAK Software Corporation, Trip.com Group Limited, Kiwi.Com S.R.O., Qunar.com, Travix International, Booking Holdings Inc., Blue Sky Booking, lastminute.com NV, Expedia Group, Etraveli Group AB, EasyJet plc, MakeMyTrip Limited, and Rakuten, Inc. among others. Several other companies are also offering this airline booking platform for various manufacturers, which is facilitating the market to propel over the years.

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