Executives, investors, and marketers alike seeking to understand the business of travel first need to establish a baseline of information to work from. How big is the market and is it growing? Who are the big players, what are their products, and what operational metrics are they benchmarked against? To answer these questions with a single source of data, Skift Research is launching its own series of travel market estimates.
Market Overview and Forecast
As we close the books on 2018, U.S. passenger airlines are set to report another year of robust revenue growth. Looking forward into 2019, we expect that revenue will continue to grow to $171.4 billion, though the pace will slow somewhat to a 2.6% growth rate. This third consecutive year of passenger revenue growth should be a relief to the industry after it saw sales decline in both 2015 and 2016, due to challenges at the big three carriers – American Airlines, Delta Air Lines, and United Airlines.