Market Trends of North America Turboprop Aircraft Industry
The Military Segment is Expected to Show the Highest Growth During the Forecast Period
- The military segment dominated the market in terms of market share and the highest CAGR, mainly due to the planned deliveries of military aircraft during the forecast period and their high cost over general and commercial aviation aircraft despite their low deliveries. For instance, in August 2022, the US Special Operations Command signed a contract worth up to USD 3 billion with L3Harris Technologies Inc. and Air Tractor to supply AT-802U Sky Warden turboprops for the Armed Overwatch program.
- Under the contract, the company will deliver up to 75 single-turboprop aircraft. In February 2023, the US Air Force awarded a contract worth USD 135 million to the Hamilton Sundstrand segment of Collins Aerospace for the electronic control system of the C-130 aircraft's eight-blade propellers. The company will provide manufacturing and engineering support for the electronic propeller control system, NP2000 eight-blade propeller, and spare parts for Air Force C-130 production.
- Also, the aging fleet of transport aircraft and special mission aircraft of the US Air Force is generating the need to modernize the aircraft fleet with newer-generation aircraft, thus driving market growth.
The United States Will Showcase Remarkable Growth During the Forecast Period
The US held the highest shares in the market and continue its domination during the forecast period owing to the increase in orders and deliveries of turboprop aircraft in the commercial, military, and general aviation sectors. According to the General Aviation Manufacturers Association (GAMA) report 2021, there were 376 turboprop aircraft delivered to the US accounting for more than 50% of global deliveries. Furthermore, the US Army is planning to acquire up to 64 Beechcraft King Air 260s from Textron Aviation for pilot training for the US Navy, Coast Guard, and Marine Corps.
In addition to this, in June 2022, Daher started deliveries of TBM 960 to US customers. The new TBM 960 will provide the benefits of digital power for enhanced sustainability, increased cabin comfort, and a superior piloting experience. Such procurement contracts are anticipated to generate demand for turboprop aircraft in the US during the forecast period.
