Asia-Pacific Turboprop Aircraft Market Growth, Trends, Size, share, Demand and top Growing Companies-2021

The Asia-Pacific Turboprop Aircraft Market Report provides a study with an in-depth overview, describing the product/industry scope and elaborates market outlook and status (2021-2025). The report is curated after in-depth research and analysis by experts. The report provides comprehensive valuable insights on the global Asia-Pacific Turboprop Aircraft market development activities demonstrated by industry players, growth opportunities, and market sizing with analysis by key segments, leading and emerging players, and geographies.

The Asia-Pacific turboprop aircraft market is expected to exhibit a CAGR of more than 2% during the forecast period (2020 - 2025).

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Top Companies in the Asia-Pacific Turboprop Aircraft Market: Airbus SE, Lockheed Martin Corporation, Textron Inc., PILATUS AIRCRAFT LTD, ATR, Piper Aircraft Inc., DAHER, Aviation Industry Corporation Of China, Piaggio Aerospace

Key Market Trends

Commercial Aviation Segment to Exhibit the Highest Growth Rate

The rise in the disposable income of people and subsequent growth of the aviation sector in the region is driving the growth of turboprop aircraft. In the future, nearly 40 percent of global airliner production will come from Asia-Pacific. Markets such as Vietnam, Indonesia, the Philippines, etc. have performed significantly well in the aviation sector during the past few years. Many airlines have emerged to serve the regional aviation needs in countries such as India. The Revenue Passenger Kilometers (RPK) grew by 4.5% in May 2019 compared to a growth of 2.4% in April of the same year. India exhibited an RPK growth rate of 6% in 2019 compared to 2018 whereas Japans RPK exhibited a year-on-year growth rate of nearly 7% in 2019. Indias low-cost career IndiGo inducted 8 new ATR aircraft since June 2019 and currently operates a fleet of 25 ATR aircraft while expecting a delivery of 25 more ATRs. Another regional low-cost airline Trujet is also planning to acquire 5 more ATR 72 aircraft to its existing fleet of 5 aircraft.

China to Exhibit Significant Growth During the Forecast Period

China is exhibiting the largest growth rates in air passenger traffic and aviation infrastructure development in the Asia Pacific region. Nearly 20% of the future airliners will be produced in China and this is significantly propelling the domestic market growth of turboprop aircraft in the country. In 2020, China will be using more domestically developed aircraft mainly for domestic aviation and short distance international flights. MA700 twin-engine turboprop aircraft developed by AVIC XAC Commercial Aircraft Company Limited is expected to take its maiden flight in 2020. China has already received nearly 285 domestic and international orders for MA700 aircraft. The business environment is starting to normalize after the COVID-19 outbreak in China and work has also resumed on the development of Chinas short-haul turboprop aircraft. The aforementioned factors are significantly driving the market growth for turboprop aircraft in China.

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