Europe Turboprop Aircraft Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 313.06 Million |
| Market Size (2029) | USD 424.41 Million |
| CAGR (2024 - 2029) | 6.28 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Europe Turboprop Aircraft Market Analysis
The Europe Turboprop Aircraft Market size is estimated at USD 313.06 million in 2024, and is expected to reach USD 424.41 million by 2029, growing at a CAGR of 6.28% during the forecast period (2024-2029).
Factors like the development of new small and medium-sized airports in the region, modernization of the existing fleet, acquisition of new turboprop aircraft by airlines, such as TAROM, and new shorter routes are significantly driving the growth of the turboprop aircraft market in Europe. Many flight routes in Europe are below 1,000 km, which provides opportunities for using turboprop aircraft instead of narrow-body turbofan aircraft for short-haul operations, propelling the market growth in the region.
Furthermore, the presence of international aircraft engine manufacturers and collaborations with local manufacturers focusing on reducing aircraft emissions in European skies is also propelling the market's growth. Turboprop aircraft generate less emission compared to a turbofan engine on shorter routes. However, with the advent of fuel-efficient small jets with faster speeds and longer ranges, the demand for turboprops might be affected in the forecast years.
Europe Turboprop Aircraft Market Trends
Commercial Segment Will Showcase Remarkable Growth During the Forecast Period
The commercial segment is anticipated to show significant growth in the market during the forecast period. The growth is attributed to the increasing airport projects, rise in disposable income of people, and introduction of new routes across cities. With the growing emphasis on smart airports, the operators are highly investing in new and improved infrastructure. The evolution of technology has enabled the authorities to incorporate various advanced technologies that enhance the passenger experience at airports.
Europe region made one of the highest investments in the world in airport construction and expansion activities in 2022. For instance, the Son Sant Joan Mallorca Airport Redevelopment project involves the redevelopment of the Son Sant Joan Mallorca Airport in the Balearic Islands, Spain. Construction began in the beginning of 2023 and is expected to be completed in three years.. The project aims to increase the airport's operational capacity, reduce delays and traffic congestion, and improve user safety.
Besides these, introducing new routes across European cities will add to the market growth. For instance, in August 2023, Aeroitalia announced that it would open three new routes from Milan, Naples, and Rome to Marche Airport, connecting the city of Ancona and the Marche province with Italy's main cities. Aeroitalia is set to increase its regional connectivity by employing its turboprop ATR 72-600 fleet. Such developments will boost the commercial segment of the market.
United Kingdom to Exhibit the Highest Growth Rate
While many prominent European nations are reluctant to buy more turboprop aircraft for various applications, the United Kingdom is investing in upgrading the existing turboprop fleet and procuring new aircraft. Manufacturers are setting up new facilities for the development of aircraft turboprop systems.
In addition, the rise in aircraft orders and deliveries is also adding to the market growth. In May 2023, the Royal Air Force took the delivery of the 22nd Atlas C1 (A400M) transport aircraft and completed the delivery development & production phase. Simultaneously, its tactical capability will expand, including the full range of support to UK airborne forces. Recently, the United Kingdom's Maritime and Coastguard Agency (MCA) incorporated two new advanced Beechcraft King Air B200 planes equipped with advanced sensors, emergency locator beacons, electro-optical infrared cameras, and other devices capable of spotting minute dangers from as far as 40 miles away. Such developments will drive the demand for turboprops in the United Kingdom.
Europe Turboprop Aircraft Industry Overview
The turboprop aircraft market in Europe is consolidated in nature, with prominent local and global players holding significant shares in the market. Some of the key players in the market are Textron Inc., DAHER, ATR, Lockheed Martin Corporation, and PILATUS AIRCRAFT LTD. ATR dominates a significant market share, catering to several low-cost carriers.
The development of light turboprop business aircraft is growing in the region, owing to business growth. The players see turboprop aircraft as a potential solution, to a certain extent, for the reduction of Europe's aviation pollution. Thus, players are launching the latest turboprop aircraft models with advanced technologies that might effectively reduce aviation's carbon footprint. For instance, in April 2023, Daher鈥檚 efficient and fast single-engine turboprop aircraft TBM 960 made its first public European appearance at the AERO Friedrichshafen, Europe鈥檚 largest general aviation exhibition.
Europe Turboprop Aircraft Market Leaders
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Textron Inc.
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DAHER
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Lockheed Martin Corporation
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ATR
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PILATUS AIRCRAFT LTD
*Disclaimer: Major Players sorted in no particular order
Europe Turboprop Aircraft Market News
- May 2023: Deutsche Aircraft and Private Wings signed a Letter of Intent (LOI) to deliver five D328eco aircraft, the new 40-seater sustainable turboprop regional airliner from Deutsche Aircraft.
- March 2023: The Spanish Air Force ordered an additional 16 Pilatus PC-21 aircraft worth USD 473.9 million to boost Spain鈥檚 fleet to 40. The added aircraft will support elementary flying training and basic training already done by the existing fleet.
Europe Turboprop Aircraft Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Application
5.1.1 Commercial Aviation
5.1.2 Military Aviation
5.1.3 General Aviation
5.2 Geography
5.2.1 United Kingdom
5.2.2 France
5.2.3 Germany
5.2.4 Spain
5.2.5 Rest of Europe
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Airbus SE
6.1.2 PIAGGIO AERO INDUSTRIES S.p.A.
6.1.3 Lockheed Martin Corporation
6.1.4 Embraer S.A.
6.1.5 Textron Inc.
6.1.6 PILATUS AIRCRAFT LTD
6.1.7 ATR
6.1.8 Thrush Aircraft Inc.
6.1.9 Viking Air Limited
6.1.10 Piper Aircraft Inc.
6.1.11 DAHER
6.1.12 Air Tractor Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Europe Turboprop Aircraft Industry Segmentation
Turboprop aircraft have one or more gas-turbine engines connected to a gearbox that will turn the propeller to enable the movement of the aircraft on the ground and through the air.
The Europe Turboprop aircraft market is segmented by application and country. The market is segmented by application into military, commercial, and general aviation. The report also offers the market size and forecasts for four countries across the region. For each segment, the market sizing and forecasts have been done based on value (USD).
| Application | |
| Commercial Aviation | |
| Military Aviation | |
| General Aviation |
| Geography | |
| United Kingdom | |
| France | |
| Germany | |
| Spain | |
| Rest of Europe |
Europe Turboprop Aircraft Market Research FAQs
How big is the Europe Turboprop Aircraft Market?
The Europe Turboprop Aircraft Market size is expected to reach USD 313.06 million in 2024 and grow at a CAGR of 6.28% to reach USD 424.41 million by 2029.
What is the current Europe Turboprop Aircraft Market size?
In 2024, the Europe Turboprop Aircraft Market size is expected to reach USD 313.06 million.
Who are the key players in Europe Turboprop Aircraft Market?
Textron Inc., DAHER, Lockheed Martin Corporation, ATR and PILATUS AIRCRAFT LTD are the major companies operating in the Europe Turboprop Aircraft Market.
What years does this Europe Turboprop Aircraft Market cover, and what was the market size in 2023?
In 2023, the Europe Turboprop Aircraft Market size was estimated at USD 293.40 million. The report covers the Europe Turboprop Aircraft Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Turboprop Aircraft Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Turboprop Aircraft Industry Report
Statistics for the 2024 Europe Turboprop Aircraft market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Europe Turboprop Aircraft analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
