Market Share of Turboprop Aircraft Industry
The turboprop aircraft market is fragmented, with several players accounting for a significant market share. Some of the prominent players in the market studied are ATR (a joint partnership between Airbus and Leonardo), Airbus SE, Textron Aviation, Pilatus Aircraft Ltd, and Lockheed Martin Corporation. ATR was one of the most affected aircraft OEMs due to the COVID-19 pandemic. In 2020, its aircraft deliveries and orders decreased to 10 and three, respectively, compared to 68 aircraft deliveries and 79 orders in 2019. However, as commercial aviation began recovering, aircraft deliveries and orders increased to 31 and 35, respectively, in 2021. The introduction of a new aircraft model is expected to support aircraft OEMs in increasing their share in the market. Xi'an Aircraft Industry Corporation is currently working on developing the MA700, a twin-engine medium-range turboprop aircraft. The aircraft has a seating capacity of about 70 passengers and is expected to enter service by 2022. According to the Aviation Industry Corporation of China (AVIC), the aircraft has 285 aircraft orders. The introduction of new market players may increase the competition among the existing OEMs during the forecast period.
Turboprop Aircraft Market Leaders
Airbus SE
ATR
Textron Inc.
Pilatus Aircraft Ltd
Lockheed Martin Corporation
*Disclaimer: Major Players sorted in no particular order
