Market Size of Europe Turboprop Aircraft Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 313.06 Million |
| Market Size (2029) | USD 424.41 Million |
| CAGR (2024 - 2029) | 6.28 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Turboprop Aircraft Market Analysis
The Europe Turboprop Aircraft Market size is estimated at USD 313.06 million in 2024, and is expected to reach USD 424.41 million by 2029, growing at a CAGR of 6.28% during the forecast period (2024-2029).
Factors like the development of new small and medium-sized airports in the region, modernization of the existing fleet, acquisition of new turboprop aircraft by airlines, such as TAROM, and new shorter routes are significantly driving the growth of the turboprop aircraft market in Europe. Many flight routes in Europe are below 1,000 km, which provides opportunities for using turboprop aircraft instead of narrow-body turbofan aircraft for short-haul operations, propelling the market growth in the region.
Furthermore, the presence of international aircraft engine manufacturers and collaborations with local manufacturers focusing on reducing aircraft emissions in European skies is also propelling the market's growth. Turboprop aircraft generate less emission compared to a turbofan engine on shorter routes. However, with the advent of fuel-efficient small jets with faster speeds and longer ranges, the demand for turboprops might be affected in the forecast years.
