Market Size of Fixed Wing Turbine Aircraft Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.20 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players.webp "Fixed Wing Turbine Aircraft Market Major Players")
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Fixed Wing Turbine Aircraft Market Analysis
Fixed wing turbine aircraft market is projected to register a CAGR of 5.2% during the forecast period.
- The COVID-19 pandemic affected air passenger traffic globally in 2020, reducing flight activity and impacting domestic and international travel. As a result, private aircraft original equipment manufacturers (OEMs) trimmed their production rates as the pandemic decreased the demand for new jets.
- However, after the COVID-19 pandemic, the restrictions on traveling rules and regulations were reduced. Furthermore, with the increased use of turbine-powered aircraft for training and recreational activities, along with regional travel, the demand for these aircraft grew by significant margins, with a steady increase. Owing to this, the market has witnessed a gradual economic revival from the economic slump caused due to the pandemic.
- There were 56.1 million high-net-worth individuals (HNWI) worldwide at the end of 2021. This represents around 1.1% of the world's adult population, driving significant demands for market growth, and is expected to drive market growth during the forecast period.
Fixed Wing Turbine Aircraft Industry Segmentation
Fixed-wing turbine-powered aircraft means an aircraft that is powered by turbine engines and wings that are permanently attached to the fuselage of the aircraft.
The fixed-wing turbine-powered market is segmented by aircraft type, application, and geography. By aircraft type, the market is segmented into business jets, military aircraft, and commercial aircraft. By application, the market is segmented into general aviation, scheduled air transport, and military aviation. By geography, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
The report offers market size and forecast in terms of value in USD billion for all the above segments.
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| Scheduled Air Transport | |
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Fixed Wing Turbine Aircraft Market Size Summary
The fixed-wing turbine aircraft market is experiencing a steady recovery and growth trajectory following the disruptions caused by the COVID-19 pandemic. Initially, the pandemic led to a significant decline in air travel, prompting private aircraft manufacturers to reduce production rates. However, as travel restrictions eased, there was a notable resurgence in demand for turbine-powered aircraft, driven by their increasing use in training, recreational activities, and regional travel. This resurgence has been further bolstered by the growing number of high-net-worth individuals (HNWIs) globally, who require extensive air travel for their global lifestyles. The market is witnessing a shift in demand dynamics, with emerging economies contributing to the internationalization of private aviation demand, particularly in regions like the Middle East and Asia-Pacific, where wealth creation and economic development are on the rise.
The Asia-Pacific region, in particular, is becoming a significant hub for the fixed-wing turbine aircraft market, fueled by its burgeoning population of ultra-high-net-worth individuals (UHNIs) and robust economic growth. Countries like China and India are leading this growth, with substantial increases in their GDPs and a rising number of business jets. The region's private aviation industry is expanding rapidly, with a growing preference for chartering and fractional ownership models. Major players in the market, such as Bombardier, Embraer, Boeing, Airbus, and Textron Aviation, are capitalizing on these trends, with strategic investments and partnerships to enhance their market presence. The market's consolidation and the influx of orders from defense organizations further underscore the competitive landscape, positioning these companies for increased market penetration and share.
Fixed Wing Turbine Aircraft Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Aircraft Type
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2.1.1 Business Jets
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2.1.2 Military Aircraft
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2.1.3 Commercial Aircraft
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2.2 Application
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2.2.1 General Aviation
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2.2.2 Scheduled Air Transport
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2.2.3 Military Aviation
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Russia
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 India
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2.3.3.2 China
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2.3.3.3 Japan
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2.3.3.4 South Korea
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 Latin America
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2.3.4.1 Mexico
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2.3.4.2 Brazil
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2.3.4.3 Rest of Latin America
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2.3.5 Middle East and Africa
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2.3.5.1 United Arab Emirates
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2.3.5.2 Saudi Arabia
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2.3.5.3 South Africa
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2.3.5.4 Rest of Middle East and Africa
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Fixed Wing Turbine Aircraft Market Size FAQs
What is the current Fixed Wing Turbine Aircraft Market size?
The Fixed Wing Turbine Aircraft Market is projected to register a CAGR of 5.20% during the forecast period (2024-2029)
Who are the key players in Fixed Wing Turbine Aircraft Market?
Textron Aviation Inc., Embraer S.A., Bombarider Inc., Airbus SE and The Boeing Company are the major companies operating in the Fixed Wing Turbine Aircraft Market.
