Market Size of Asia-Pacific Turboprop Aircraft Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 2.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia-Pacific Turboprop Aircraft Market Analysis
The Asia-Pacific turboprop aircraft market is expected to exhibit a CAGR of more than 2% during the forecast period (2020 - 2025).
- The Asia-Pacific countries, such as India, Japan, and China, are increasing their defense spending to strengthen the cargo and troop transportation capability of their respective air forces. This factor is driving the market growth for turboprop aircraft, such as C-130J Super Hercules and A400M Atlas, in the region.
- The rise in air passenger traffic in the region is pushing the development of new small and medium-sized airports in countries, such as India and China. Due to the new short-distance routes between provinces, states, and cities, many low-cost carriers are opting for turboprop aircraft, owing to their cost-effectiveness.
- The general aviation industry in Asia-Pacific is on the rise, owing to the growth and development of the business ecosystem and the rise in the disposable income of people. The Asia-Pacific region accounted for 14.6% of global general aviation turboprop aircraft deliveries in 2019, and this share is expected to go up during the forecast period.
