In 2018, the global airline booking platform market was valued at US$ 3,601.05 million and is projected to expand at a compound annual growth rate (CAGR) of 10.7% from 2019 to 2027, reaching an estimated US$ 8,852.77 million by the end of the forecast period.
Europe is at the forefront of the airline booking platform market. This region comprises highly developed nations that are experiencing significant growth in their aviation sectors. With over 20,000 flights operating daily and around 500 million passengers traveling annually, Europe boasts the busiest airspace globally. The region's economic stability is enabling airlines and booking platform providers to concentrate on enhancing the travel experience by offering a variety of services. Consequently, the European market is expected to see considerable growth throughout the forecast period.
The airline industry in North America is also witnessing a surge in travelers, with the number of visitors nearly doubling compared to those from Europe and other parts of the Americas over the last decade. The increase in disposable income, particularly in the United States and Canada, coupled with growing time constraints faced by individuals in these countries, has led to a significant rise in demand for booking platforms that provide appealing travel services and deals.
The global airline booking platform market is categorized into five primary regions: North America, Europe, Asia-Pacific (APAC), the Middle East and Africa, and South America. Among these, the APAC region is anticipated to experience the highest CAGR during the forecast period. This growth can be attributed to rapid urbanization, a substantial middle and upper-class population, a flourishing airline industry, increased purchasing power, and a strengthening tourism sector. Countries like China and India are expected to emerge as key players in terms of growth opportunities within the APAC region during the forecast period.
The segmentation of the global airline booking platform market is based on type and application. In terms of type, the market is divided into Online Travel Agencies (OTAs) and ticket comparison engines. Regarding application, it is segmented into international and domestic airline bookings. Geographically, the market is divided into five regions: North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
Prominent players in the airline booking platform market include Amadeus IT Group SA, Blue Sky Booking, Booking Holdings, EasyJet Plc, Etraveli Group AB, Expedia Group, Igola International Limited, Kayak Software Corporation, Kiwi.com S.R.O, Lastminute.com NV, MakeMyTrip Limited, Qunar.com, Rakuten, Inc., Travix International, and Trip.com Group Limited.
The overall size of the global airline booking platform market has been determined through a combination of primary and secondary research methods. The research process begins with extensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data related to the market. This research also includes an overview and forecast of the airline booking platform market based on the various segments identified for the global region. Additionally, primary interviews with industry participants and experts are conducted to validate the data and analysis. Participants typically include industry professionals such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the airline booking platform sector.