Market Size of North America Turboprop Aircraft Industry
| 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
*Disclaimer: Major Players sorted in no particular order |
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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.
