Essay about A Report On The Aviation Industry

1055 Words Oct 10th, 2016 5 Pages
The aviation industry is one of that is always evolving and growing over time. One of the major factors that keeps the industry growing every day is the growth of low-cost carriers worldwide. LCC 's have been helping grow and shape the industry for not only consumers but for air carriers. In 2005 the European market share for low-cost carriers was estimated at 17% when reevaluated in 2013 it was estimated at 32% which was a 15% increase.( In 2013 it was also estimated that the worldwide percentage of LLCs was estimated at 22%. In the United States LLCs were very limited in the beginning at solely revolved around Southwest Airlines. In 2013 an article by Airline Profiler stated there were approximately 172 LLC 's across the world. In the United States Southwest is still known as one of the largest LLCs, however, there are a number of other LLCs that have entered the market and are rapidly growing. JetBlue,Spirit Airlines, Norwegian Air, Ryan Air are just a few of the most rapidly growing LLCs. The rapid growth of these carriers have been one of the primary causes of financial issues with legacy carriers. LLCs give competition to the LCCs has commonly been cited as one of the primary causes of the financial crisis for non-LCCs like United Airlines,Delta, and American. Theses carriers are having to re-launch their products and compete with the LCCs for customers. LCC 's are growing and becoming more popular which then is starting to take away the "dominance"…

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