Market Trends of General Aviation Engines Industry
Fixed-wing Aircraft Engines to Exhibit the Highest Growth Rate During the Forecast Period
- The increase in leisure and business air travel, increase in disposable income of people, and development of aviation infrastructure to accommodate and handle more general aviation aircraft are propelling the market growth for general aviation aircraft and engines globally. The majority of general aviation aircraft are powered by turbofan engines.
- Turbofans are expected to exhibit the highest growth as compared to other aircraft engines, owing to the global investments made to increase the size of the existing general aviation fleet of fast, powerful, and fuel-efficient aircraft.
- The global shipment of piston-engine aircraft also recorded an increase of 8.4%, with a total of 1,524 units shipped in 2022 compared to 1,409 units in 2021. Some of the top-selling general aviation aircraft models, such as Cirrus Aircraft SR 22T, Cirrus SF 50, Diamond Aircraft DA 40, Bombardier business jets, Daher Kodiak 100, etc., recorded a growth in sales in 2022. Development and advancements in design and technology, such as enhancement of high bypass turbofan design, are making engines fuel-efficient and more powerful, thus propelling the market growth for fixed-wing aircraft engines.
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Asia-Pacific Region to Exhibit The Highest Growth Rate During the Forecast Period
- The Asia-Pacific region is anticipated to register the highest growth during the forecast period. This is primarily due to the significant growth showcased by China, India, and Japan in terms of new aircraft orders and deliveries in the past five years. Currently, China has over 2,600 general aviation aircraft, and this number is expected to increase in the coming years due to the growing demand from the short-haul transportation, tourism, forestry, and emergency medical service sectors. Of the total active fleet, about 60% are fixed-wing aircraft, while the remaining are rotorcraft.
- The top four business jet models in China are Gulfstream G450, G550, Dassault Falcon 7X, and Bombardier's Challenger 850. Likewise, Japan also experienced significant growth in its total fleet in 2022 compared to 2021. The development of airports in remote areas and smaller cities have propelled the market growth for turboprop and piston-engine aircraft in the region. Club One Air is India's largest business jet charter operator; eight of its 10 jets are used solely for charter use.
- In July 2022, The Emergency Rescue Helicopter Service (ERHS) of Western Australia ordered three Leonardo AW139 intermediate twin-engine helicopters as part of a fleet modernization effort to achieve enhanced airborne capabilities by expanding Leonardo's AW139 fleet. Helicopters will be supplied by leading helicopter operator CHC Australia to the ERHS to conduct helicopter emergency medical service (HEMS), search and rescue, and inter-hospital patient transport missions from Jandakot and Bunbury Airports.
- The company recently announced its plans to double the fleet size within the next two years. Such developments in general aviation in the Asia-Pacific region are anticipated to generate significant demand for aircraft engines which will drive market growth in the near future.
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