Turboprop Engine Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Turboprop Engine Market is Segmented by Application (Commercial Aircraft, Military Aircraft, and General Aviation Aircraft) and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa). The Report Offers Market Size and Forecast for all the Above Segments in Value (USD).

Turboprop Engine Market Size

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Turboprop Engine Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 23.80 Billion
Market Size (2029) USD 28.55 Billion
CAGR (2024 - 2029) 3.71 %
Fastest Growing Market North America
Largest Market North America

Major Players

Turboprop Engine Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Turboprop Engine Market Analysis

The Turboprop Engine Market size is estimated at USD 23.80 billion in 2024, and is expected to reach USD 28.55 billion by 2029, growing at a CAGR of 3.71% during the forecast period (2024-2029).

The preference for turboprop engine-powered aircraft in commercial aviation is growing with the introduction of new regional routes. Turboprop engines are highly efficient in short-distance and low-altitude flying, which is helping their growth in the commercial aviation sector. In the military and general aviation segments, the growth in demand is mainly due to the introduction of new aircraft models powered by turboprop engines.

The increasing demand for turboprop aircraft is due to the introduction of newly developed shorter routes, the ability to fly at low altitudes, and cost efficiency. The hybrid variety holds dominance in the turboprop engine market owing to its increasing popularity in the civil aviation sector. Furthermore, the deployment of turboprop engines is extensive as older aircraft are retrofitted with these hybrid engines. In addition, newer aircraft are already equipped with this modern turboprop engine.

Turboprop engines prove to be highly efficient in low-altitude flying and short-distance travel, requiring minimal airstrip space for take-off and landing and enhancing fuel efficiency. These factors make air travel more accessible and convenient for individuals, thereby driving the market demand for turboprop engines.

Turboprop Engine Market Trends

General Aviation Segment is Expected Witness Significant Growth During the Forecast Period

With the growth in demand for newer aircraft models featuring the latest avionics and technological advancements in terms of performance, several turboprop aircraft manufacturers are developing new aircraft. Growth in the HNWI and UHNWI populations globally catalyzes the increased demand for private travel, subsequently driving the procurement of turboprop aircraft. For instance, from 2017 to 2022, the HNWI population increased by 83% globally. In July 2022, Pratt & Whitney Canada announced a new PT6 E-Series engine family model. The PT6E-66XT engine is purpose-built for Daher’s latest single-engine turboprop airplane, the TBM 960.

In January 2022, Pratt & Whitney Canada that Diamond Aircraft had selected the PT6A-25C engine for its new DART-750 aircraft. DART-750 aircraft is an all-carbon fiber tandem turboprop trainer aircraft. Thus, the growth in demand for newer turboprop aircraft, especially in the general aviation segment, is expected to drive innovations in turboprop engines, which is expected to help the market growth during the forecast period.

Turboprop Engine Market: Turboprop Aircraft Deliveries, General Aviation, By Region, 2022

North America Projected to Dominate the Market During the Forecast Period

North America will be the largest market for Turboprop Engines in 2022. The region is also expected to grow with the highest CAGR during the forecast period due to large-scale demand for turboprop aircraft from the US. In the General Aviation segment, North America alone accounted for about 56% of the turboprop aircraft deliveries in 2022, with the U.S. contributing around 79%. The region is also generating demand for new turboprop aircraft in the commercial aircraft segment, with the growth in the market for regional aircraft.

It is expected that by 2039, there will be a requirement of 79,000 pilots in the business aviation and civil helicopter sector in the North American region. The positive economic recovery trend, along with the fleet expansion plans of flight training institutes, is expected to aid the growth of other categories during the forecast period. It is expected that around 1,400 turboprops will be delivered during 2023-2028 in North America.

In November 2023, RTX's Pratt & Whitney received a contract valued up to USD 870 million for TF33 engines powering B-52s and E-3s by the Defense Logistics Agency of the U.S. Such kind of development will drive the demand for turboprop engine market during the forecast period in North America.

Turboprop Engine Market - Growth Rate by Region (2023 - 2028)

Turboprop Engine Industry Overview

The turboprop engine market is consolidated, with the presence of a few turboprop engine OEMs, who occupy a majority of the market share. Some prominent market players are RTX Corporation, Rolls-Royce plc, Safran, General Electric Company, and Honeywell International, Inc. Engine manufacturers and OEMs enjoy long-term contracts for providing products and services, making it difficult for new players to enter and sustain themselves in the market. Significant investment into R&D of advanced technologies like additive manufacturing and incorporation of automation and AI to increase the production rate of the engines are expected to help the players ramp up their production capacity, thereby supporting their growth during the forecast period.

Turboprop Engine Market Leaders

  1. Rolls-Royce plc

  2. Safran

  3. Honeywell International, Inc.

  4. RTX Corporation

  5. General Electric Company

*Disclaimer: Major Players sorted in no particular order

Turboprop Engine Market Concentration
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Turboprop Engine Market News

In September 2023, Rolls-Royce announced that its Pearl® 700 engine for business aircraft Gulfstream G700™ and Gulfstream G800™, has received official certification from the Federal Aviation Administration (FAA).

In February 2023, General Atomics Aeronautical Systems (GA-ASI) finalized an expression of interest (EOI) with India’s Hindustan Aeronautics Limited (HAL) to provide support services for the MQ-9B aircraft’s turbo-propeller engines. Under the collaborative effort, HAL will provide maintenance, repair, and overhaul (MRO) services for the engines at its Engine and Industrial & Marine Gas Turbine (IMGT) division in Bengaluru, India.

Turboprop Engine Market Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry


    1. 5.1 Application

      1. 5.1.1 Commercial Aircraft

      2. 5.1.2 Military Aircraft

      3. 5.1.3 General Aviation Aircraft

    2. 5.2 Geography

      1. 5.2.1 North America

        1. United States

        2. Canada

      2. 5.2.2 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Italy

        5. Rest of Europe

      3. 5.2.3 Asia-Pacific

        1. India

        2. China

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      4. 5.2.4 Latin America

        1. Brazil

        2. Rest of Latin America

      5. 5.2.5 Middle-East and Africa

        1. United Arab Emirates

        2. Saudi Arabia

        3. Israel

        4. Rest of Middle-East and Africa


    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 RTX Corporation

      2. 6.2.2 Rolls-Royce plc

      3. 6.2.3 Safran

      4. 6.2.4 General Electric Company

      5. 6.2.5 Honeywell International, Inc.

      6. 6.2.6 MTU Aero Engines AG

      7. 6.2.7 PBS AEROSPACE Inc.

      8. 6.2.8 Motor Sich JSC

      9. 6.2.9 TUSAS Engine Industries, Inc.


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Turboprop Engine Industry Segmentation

The turboprop engine is a turbine that drives the aircraft's propeller. It is a variant of a jet engine that has been optimized to drive a propeller. The turboprop engine consists of an intake, reduction gearbox, compressor, combustor, turbine, and propelling nozzle.

The turboprop engine market is segmented based on application and geography. By application, the market is segmented into commercial aircraft, military aircraft, and general aviation aircraft. The report also covers the market sizes and forecasts for the turboprop engine market in major countries across different regions. For each segment, the market sizing and forecasts have been done based on value (USD).

Commercial Aircraft
Military Aircraft
General Aviation Aircraft
North America
United States
United Kingdom
Rest of Europe
South Korea
Rest of Asia-Pacific
Latin America
Rest of Latin America
Middle-East and Africa
United Arab Emirates
Saudi Arabia
Rest of Middle-East and Africa
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Turboprop Engine Market Research FAQs

The Turboprop Engine Market size is expected to reach USD 23.80 billion in 2024 and grow at a CAGR of 3.71% to reach USD 28.55 billion by 2029.

In 2024, the Turboprop Engine Market size is expected to reach USD 23.80 billion.

Rolls-Royce plc, Safran, Honeywell International, Inc., RTX Corporation and General Electric Company are the major companies operating in the Turboprop Engine Market.

North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Turboprop Engine Market.

In 2023, the Turboprop Engine Market size was estimated at USD 22.92 billion. The report covers the Turboprop Engine Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Turboprop Engine Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Turboprop Engine Industry Report

Statistics for the 2024 Turboprop Engine market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Turboprop Engine analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Turboprop Engine Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)