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Flights - Ireland

Ireland

The Flights market in Ireland is expected to experience significant revenue growth, with projections indicating that revenue will reach €1.17bn by 2024.
Over the following four years, the market is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 3.95%, resulting in a projected market volume of €1.42bn by 2029.
By the end of this period, the number of users in this market is expected to reach 1.74m users.
Furthermore, user penetration is projected to increase from 26.4% in 2024 to 33.3% by 2029.
The expected Average Revenue Per User (ARPU) is estimated to be €0.87k.
The online sales channel is expected to contribute 94% of total revenue in the Flights market by 2029.
It is worth noting that in a global comparison, the majority of revenue generated in the Flights market will come from United States, which is expected to generate €131bn in 2024.
As Ireland's tourism industry continues to grow, airlines are expanding their flight offerings to and from the Emerald Isle.

Key regions: India, China, Europe, Indonesia, Thailand

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Analyst Opinion

The Flights market in Ireland has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in the Flights market in Ireland have shifted towards more affordable and convenient travel options. With the rise of low-cost carriers and online travel agencies, travelers are now able to find and book flights at competitive prices. This has led to increased demand for flights, as more people are able to afford air travel. Additionally, customers are increasingly looking for flexible booking options, such as the ability to change or cancel flights without incurring high fees. This has pushed airlines to offer more flexible ticket options, further fueling the growth of the Flights market in Ireland. Trends in the market have also played a role in the development of the Flights market in Ireland. One major trend is the increasing popularity of budget travel. Many travelers are now opting for budget airlines that offer lower fares, even if it means sacrificing some of the amenities and services provided by traditional carriers. This trend has led to a proliferation of low-cost carriers in the market, creating more competition and driving down prices. Another trend is the rise of online travel agencies and metasearch engines, which allow customers to compare prices and book flights easily. These platforms have made it more convenient for travelers to find the best deals and have contributed to the growth of the Flights market in Ireland. Local special circumstances in Ireland have also influenced the development of the Flights market. Ireland is a popular tourist destination, known for its stunning landscapes and rich cultural heritage. This has attracted a large number of international tourists, who often choose to fly to Ireland for their vacations. Additionally, Ireland has a strong diaspora, with many Irish people living abroad. This has created a constant demand for flights between Ireland and other countries, as people travel back and forth to visit family and friends. These unique circumstances have contributed to the growth of the Flights market in Ireland. Underlying macroeconomic factors have also played a role in the development of the Flights market in Ireland. The Irish economy has been performing well in recent years, with strong GDP growth and low unemployment rates. This has led to increased disposable income and greater consumer confidence, which in turn has fueled the demand for air travel. Additionally, Ireland's membership in the European Union has made it easier for airlines to operate in the country, as they can take advantage of the EU's open skies policy. These macroeconomic factors have created a favorable environment for the growth of the Flights market in Ireland. Overall, the Flights market in Ireland has experienced significant growth due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The combination of affordable and convenient travel options, the rise of budget travel, the popularity of online travel agencies, Ireland's status as a tourist destination and home to a diaspora, and the strong Irish economy have all contributed to this development.

Methodology

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.