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Turboprop Engine Market: Global and Regional Analysis with Forecast till 2030, Business Opportunities, COVID Scenario

Turboprop engine market report with COVID-19 impact analysis 2021–2030. The global market is segmented based on application, platform, technology and region.

PORTLAND, ORAGON, UNITED STATES, December 2, 2021 / -- Turboprop Engine Market Outlook 2030 -

A turboprop engine is a turbine engine that drives an aircraft propeller. A turboprop consists of an intake, reduction gearbox, compressor, combustor, turbine, and a propelling nozzle. Air is drawn into the intake and compressed by the compressor. Fuel is then added to the compressed air in the combustor, where the fuel-air mixture then combusts. The hot combustion gases expand through the turbine. Some of the power generated by the turbine is used to drive the compressor. The preference for turboprop engine-powered aircraft in commercial aviation is growing with the introduction of new regional routes. The turboprop engines are highly efficient in the short distance and low altitude flying, which is helping their growth in the commercial aviation sector.

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In the military and general aviation segments, the growth in demand is mainly due to the introduction of new aircraft models that are powered by turboprop engines, in recent years. U.S. has the highest military spending in the world, is also the largest market for military turboprop transport and tanker aircraft in the world. The country, in December 2019, ordered 50 Lockheed Martin C-130J Super Hercules four-engine turboprop military transport aircraft. The contract alone, may generate demand for around 250 Rolls-Royce AE 2100 D3 turboprop engines that power the aircraft, during the forecast period. Such orders for turboprop aircraft is expected to generate demand for the turboprop engine in North America, thereby contributing to its high share in the market during the forecast period.

The key players analyzed in the report include Rolls-Royce, Honeywell International, General Electric, Pratt & Whitney, CFM International, Engine Alliance, GE Honda Aero Engines, International Aero Engines, Safran SA, and Williams International.

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COVID-19 Impact analysis

Companies have been forced to halt their business operations in compliance with new government rulings to follow the lockdown. Operational obstructions are directly impacting revenue flow of the micro turbine engine market. Companies that rely on international workforce are greatly affected due to travel restrictions and the quarantine measures imposed. Projects that are in the procurement phase are predominantly vulnerable to COVID-19. Falling prices of oil could lead to closing of oil wells. It can possibly drive the demand for hybrid systems such as micro turbine engine, which can use a variety of fuels other than natural gas. This is expected to provide growth opportunity for the market growth. Aircraft operators are facing a liquidity crisis, especially in the Commercial Aviation and the General Aviation sectors, which is expected to hamper the future purchases of turboprop aircraft, thereby restraining the growth of the market for turboprop engines during the forecast period.

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Top Impacting Factors

Growth in Demand for newer general aviation aircraft models, rise in demand for low altitude planes, and growing military transportation are driving the growth of the market.
Low thrust, and less efficient at low speed is expected to hamper the growth of the market.
Rising defense budget, and technological development can be seen as an opportunity for the market investments.

The turboprop engine market trends are as follows:

Growth in Demand for Newer General Aviation Aircraft Models

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. In June 2020, Epic Aircraft delivered its first two Epic E1000 aircraft, which are single-engine, six-seat, turboprop light aircraft. According to the company, the Epic E1000 is currently the fastest single-engine civil aircraft, due to the incorporation of the 1200 HP Pratt & Whitney PT6A-67A engine and has more currently than 80 aircraft on order. On the other hand, Pilatus is also making efforts to attract new customers with the launch of its PC-12 NGX, a new and improved version of its PC-12 single-engine turboprop. The aircraft is powered by the Pratt & Whitney Canada’s new PT6E-67XP turboprop engine, which makes it faster and quieter than its predecessors. Also, the PT6 E-series engine is the first engine in the general aviation segment with a dual-channel integrated electronic propeller and engine control system. Thus, the growth in demand for newer turboprop aircraft, especially in the general aviation segment is expected to drive the innovations in turboprop engines which is expected to help the market growth during the forecast period.

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Key benefits of the report:

This study presents the analytical depiction of the global turboprop engine market along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with challenges of the global turboprop engine market.
The current market is quantitatively analyzed from 2020 to 2030 to highlight the global turboprop engine market growth scenario.
The report provides a detailed global turboprop engine market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the global turboprop engine market research report:

Which are the leading market players active in the global turboprop engine market?
What would be the detailed impact of COVID-19 on the market?
What current trends would influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the global turboprop engine market?
What are the projections for the future that would help in taking further strategic steps?

David Correa
Allied Analytics LLP
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