This Commercial Turboprop Aircrafts market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Commercial Turboprop Aircrafts market.
Commercial Turboprop Aircrafts Market: Introduction
In recent years, the regional aviation industry has evolved rapidly, both from a technological and geographical point of view and from a business perspective as well. Not only are mega cities connecting the world, but there is immense potential from tertiary and secondary airports as well. Consequently, turboprops aircrafts play an important role in developing and exploring new routes, thereby promoting local community development. A turboprop is a turbine engine that drives an aircraft propeller. These type of engines are used for short distances and also help in reducing aviation emissions. In the next twenty years, China is expected to possess a significant market opportunity for commercial turboprop aircrafts.
These aircrafts require relatively simpler infrastructure as compared to jets. In many small countries across the world, poor airstrip/airport infrastructure prohibits the use of big planes. Additionally, regional airports are often the only choice for turboprop operators as many big/major airports suffering from congestion and delays have prohibited turboprop aircrafts in favor of jet aircrafts.
Commercial Turboprop Aircrafts Market: Dynamics
Growing concerns regarding the efficacy of regional jets and recent fuel price volatility are propelling the demand for commercial turboprop aircrafts as efficient passenger air carriers for short hauls. Additionally, global economic growth (GDP) and increasing passenger travel for shorter distances are surging the demand for commercial turboprop aircrafts. Fuel makes up a significant portion of airline cost and is considered to be one of the largest expenses for airlines. Moreover, increase in crude oil prices and the low operating cost associated with them are driving the demand for commercial turboprop aircrafts. Also, the growing demand for island connectivity from various regions is spurring the demand for commercial turboprop aircrafts.
However, the discomfort associated with these aircrafts, owing to higher noise and vibration levels is hampering the growth of the commercial turboprop aircrafts market. Also, many countries in Europe and the United States have well developed highways and road connections that provide attractive travel alternatives for short haul passengers.
Commercial Turboprop Aircrafts Market: Trend/Regional Outlook
Around the world, many regional airlines are demanding for turboprops in the 60+ seat category as they are attempting to shift away from expensive regional jets. However, many turboprop manufacturers have reduced or stopped the production of smaller turboprops in favor of larger models. Therefore, manufacturers have started developing larger turboprop aircrafts with the seating capacity of 90 people.
Geographically, North America is expected to be a prominent revenue generating region in the global commercial turboprop aircrafts market. The increasing demand for connectivity from different cities is expected to propel the demand for turboprop aircrafts in North America during the forecast period. In Asia Pacific, China and India are projected to grow at significant rates during the forecast period. The emerging middle class and increasing disposable income in this region are expected to escalate the demand for aircraft in Asia Pacific, which in turn drives growth of the commercial turboprop aircraft market. Also, Europe is projected to witness relatively rapid growth in the near future.
Commercial Turboprop Aircrafts Market: Market Participants
Examples of some of the market participants identified across the value chain of the global commercial turboprop aircrafts market are:
- Bombardier Inc.
- Embraer S.A.
- Xian Aircraft Industrial Corporation
- RUAG Aerospace Services and Hindustan Aeronautics
- Sky Aircraft (a subsidiary of GECI Aviation)
- Antonov Company
- GKN Aerospace (Fokker Technologies)
- De Havilland Aircraft Company Limited
- Rolls-Royce Plc
- GE Aviation
- Pratt & Whitney
- Honeywell Garett
- PBS Aerospace
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Commercial Turboprop Aircrafts Market: Segmentation
On the basis of engine power (shaft power), the commercial turboprop aircrafts market can be segmented into:
- Less than 500
- 500 to 700
- More than 700
On the basis of seat capacity, the commercial turboprop aircrafts market can be segmented into:
- Small (20 to 50 seats)
- Medium (50 to 90 seats)
- Large (90+)
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
Frequently Asked Questions
What research methodology is used to develop the Commercial Turboprop Aircrafts Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Commercial Turboprop Aircrafts Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Commercial Turboprop Aircrafts Market report?
In addition to up-to-date market figures and customized of the Commercial Turboprop Aircrafts Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.