North America Turboprop Aircraft Market Size (2024 - 2029)

The North American turboprop aircraft market is projected to experience growth despite previous challenges posed by the COVID-19 pandemic, which led to decreased demand, production halts, and supply chain disruptions. The market's expansion is driven by increasing demand from regional airlines and the military sector, as turboprop aircraft offer fuel efficiency advantages for shorter routes. However, the market's growth rate may be tempered by major airlines in the region transitioning from turboprop to turbofan aircraft.

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Market Size of North America Turboprop Aircraft Industry

North America Turboprop Aircraft Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 1.50 %
Market Concentration High

Major Players

North America Turboprop Aircraft Market Major Players

*Disclaimer: Major Players sorted in no particular order

North America Turboprop Aircraft Market Analysis

The North American turboprop aircraft market is anticipated to grow at a CAGR of more than 1.5% during the forecast period.

  • The North American aviation sector has been severely impacted due to the COVID-19 pandemic. The declining demand for turboprop aircraft, production halt from original equipment manufacturers (OEMs), and supply chain disruptions hampered market growth during the timeframe. However, the market witnessed healthy growth post-pandemic with rising demand for turboprop aircraft for various applications.
  • The demand for turboprop aircraft from regional airlines to cater to the growing passenger traffic and the demand from the military sector is anticipated to propel the market growth during the forecast period. Airlines and charter operators prefer turboprop aircraft as an effective solution, especially on shorter routes, as they are more fuel-efficient than turbofan aircraft for shorter distances. 
  • However, as major airlines in the region are replacing the fleet of turboprop aircraft with turbofan aircraft, the market is anticipated to witness slower growth during the forecast period. For instance, Connect Airlines, a new start-up airline in the United States, will offer a premium cabin onboard its De Havilland Canada Dash 8-400 turboprop aircraft fleet. The airline will fit its Dash 8-400 turboprop aircraft fleet with 26 premium seats.

North America Turboprop Aircraft Industry Segmentation

A turboprop aircraft is a type of aircraft that uses a gas turbine engine to power a propeller. The engine is similar to a jet engine, but instead of using its exhaust to produce thrust directly, it drives a gearbox that turns a propeller. The propeller then creates the thrust needed to propel the aircraft forward. Turboprop engines are known for their efficiency and reliability. They are commonly used for regional airliners, military transport aircraft, and other applications where a combination of speed, range, and operating cost is desired.

The North American turboprop aircraft market is segmented by application, and country. By application, the market is segmented into commercial, military, and general aviation. By country, the market is segmented into the United States and Canada.

 The market sizing and forecasts have been provided in value (USD billion) for all the above segments.

Application
Commercial
Military
General Aviation
Country
United States
Canada
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North America Turboprop Aircraft Market Size Summary

The North American turboprop aircraft market is poised for growth, driven by increasing demand from regional airlines and the military sector. Despite the initial setbacks caused by the COVID-19 pandemic, which included reduced demand and supply chain disruptions, the market has rebounded with a focus on turboprop aircraft for various applications. These aircraft are favored for their fuel efficiency on shorter routes, making them a preferred choice for airlines and charter operators. However, the market faces challenges as major airlines transition to turbofan aircraft, potentially slowing growth. The military segment remains a dominant force in the market, with significant investments in turboprop aircraft for defense purposes, such as the US Special Operations Command's procurement of AT-802U Sky Warden turboprops.

The United States holds a significant share of the North American turboprop market, supported by robust orders and deliveries across commercial, military, and general aviation sectors. The aging fleet of transport and special mission aircraft in the US Air Force necessitates modernization, further driving market demand. Key players like Textron Inc., Pilatus Aircraft Limited, Airbus SE, Lockheed Martin Corporation, and ATR dominate the market, with strategic contracts and partnerships enhancing their market presence. The introduction of new aircraft models and ongoing procurement contracts, such as Daher’s TBM 960 deliveries, are expected to sustain demand for turboprop aircraft in the region. The market's consolidated nature, with a few major players holding significant shares, underscores the competitive landscape and the focus on business expansion through strategic agreements.

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North America Turboprop Aircraft Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Application

      1. 2.1.1 Commercial

      2. 2.1.2 Military

      3. 2.1.3 General Aviation

    2. 2.2 Country

      1. 2.2.1 United States

      2. 2.2.2 Canada

North America Turboprop Aircraft Market Size FAQs

The North America Turboprop Aircraft Market is projected to register a CAGR of greater than 1.5% during the forecast period (2024-2029)

Textron Inc., Pilatus Aircraft Limited, Airbus SE, Lockheed Martin Corporation and ATR are the major companies operating in the North America Turboprop Aircraft Market.

North America Turboprop Aircraft Report Snapshots

North America Turboprop Aircraft Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)