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)
*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.
