Market Size of Asia-Pacific Turboprop Aircraft Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 2.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia-Pacific Turboprop Aircraft Market Analysis
The Asia-Pacific turboprop aircraft market is expected to exhibit a CAGR of more than 2% during the forecast period (2020 - 2025).
- The Asia-Pacific countries, such as India, Japan, and China, are increasing their defense spending to strengthen the cargo and troop transportation capability of their respective air forces. This factor is driving the market growth for turboprop aircraft, such as C-130J Super Hercules and A400M Atlas, in the region.
- The rise in air passenger traffic in the region is pushing the development of new small and medium-sized airports in countries, such as India and China. Due to the new short-distance routes between provinces, states, and cities, many low-cost carriers are opting for turboprop aircraft, owing to their cost-effectiveness.
- The general aviation industry in Asia-Pacific is on the rise, owing to the growth and development of the business ecosystem and the rise in the disposable income of people. The Asia-Pacific region accounted for 14.6% of global general aviation turboprop aircraft deliveries in 2019, and this share is expected to go up during the forecast period.
Asia-Pacific Turboprop Aircraft Industry Segmentation
The Asia-Pacific turboprop aircraft market covers the latest trends and technological developments and provides analysis on various aspects of the market. The report also provides country-level analysis and recent procurement plans and contracts.
| Application | |
| Commercial Aviation | |
| Military Aviation | |
| General Aviation |
| Geography | ||||||||
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Asia-Pacific Turboprop Aircraft Market Size Summary
The Asia-Pacific turboprop aircraft market is experiencing a positive growth trajectory, driven by increased defense spending and the expansion of air passenger traffic. Countries like India, Japan, and China are enhancing their air force capabilities, which boosts the demand for turboprop aircraft such as the C-130J Super Hercules and A400M Atlas. Additionally, the development of new small and medium-sized airports in India and China, coupled with the rise of low-cost carriers opting for cost-effective turboprop solutions, is further propelling market growth. The general aviation sector is also on the rise, supported by a growing business ecosystem and increasing disposable incomes, with the region's share of global general aviation turboprop deliveries expected to rise.
China, in particular, is witnessing significant growth in air passenger traffic and aviation infrastructure, contributing to the robust expansion of its turboprop aircraft market. The country is set to produce a substantial portion of future airliners, with domestic developments like the MA700 twin-engine turboprop aircraft playing a crucial role. The market is consolidated, with major players such as ATR, Textron Aviation, Lockheed Martin Corporation, and AVIC leading the charge. These companies are strategically establishing manufacturing and distribution centers in the region, leveraging low-cost labor and securing contracts from airlines, governments, and businesses to drive revenue.
Asia-Pacific Turboprop Aircraft Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Application
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2.1.1 Commercial Aviation
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2.1.2 Military Aviation
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2.1.3 General Aviation
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2.2 Geography
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2.2.1 Asia-Pacific
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2.2.1.1 China
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2.2.1.2 India
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2.2.1.3 Japan
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2.2.1.4 South Korea
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2.2.1.5 Australia
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2.2.1.6 Rest of Asia-Pacific
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Asia-Pacific Turboprop Aircraft Market Size FAQs
What is the current Asia-Pacific Turboprop Aircraft Market size?
The Asia-Pacific Turboprop Aircraft Market is projected to register a CAGR of greater than 2% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Turboprop Aircraft Market?
Lockheed Martin Corporation, Textron Aviation, Aviation Industry Corporation Of China, DAHER and ATR are the major companies operating in the Asia-Pacific Turboprop Aircraft Market.
