The global turboprop engine market size accounted for USD 1,300 million in 2024 and is expected to exceed around USD 2,390 million by 2034, growing at a CAGR of 6.3% from 2024 to 2034.
Global demand for turboprop engines is continuously increasing, as regional aviation companies are actively seeking efficient and inexpensive engine solutions. Turbine engines which are suitable for short to middle-range flights are applied in commuter and cargo aircraft. The fact that they are suited to low Operating Altitudes and speed makes them ideal for regional Airlines, and military use. The trend of decreasing operating expenses besides improving the fuel consumption in the aviation industry is projected to fuel the market for turboprop engines globally, especially in locations where regional connectivity is required.
New developments in turboprop engine technology are fuelling growth for the market. Manufacturers are using advanced technological systems to develop engines with higher, productivity, less noise, and greater ecological factors. Lighter composite material, digitized control, power systems, and hybrid propulsion technologies are some of the fields that are promoting environment-friendly turboprop engines. Players, including Pratt & Whitney and GE Aviation, are at the forefront of these innovations and have released new generation engines that address the emerging needs of commercial and defense purposes.
In the Asia-Pacific region, developing nations with growing investments in establishing new routes and increasing passenger traffic in countries, such as India, China, and Indonesia further fuelling the market. Low-cost airline and government developments to enhance regional airlift requirements are driving the need for turboprop-propelled aircraft in this region. North America and Europe remained the largest market primarily driven by powerful military and cargo operations and well-established aircraft manufacturers. Furthermore, highlighting the importance of sustainability and cost reduction, the turboprop engine market is expected to maintain steadily stable growth accompanied by constant advances in technology and the expansion of the range of applications.
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| Stats ID: | 7469 |
| Format: | Databook |
| Published: | January 2025 |
| Delivery: | Immediate |
| Stats ID: | 7469 |
| Format: | Databook |
| Published: | January 2025 |
| Delivery: | Immediate |
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