According to a recently published report by Research Nester on “Fixed Wing Turbine Aircraft Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the fixed wing turbine aircraft market in terms of market segmentation by aircraft type, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global fixed wing turbine aircraft market is anticipated to record a CAGR of around 5.8% over the forecast period i.e. 2019-2027. The market is segmented by aircraft type into business jet and military aircrafts. The market is further segmented by application into general aviation, scheduled air transport, military aviation.
Improvement in fan and nacelle performance, increased turbine inlet temperature has led to the dominance of the global fixed wing turbine market. The increase in the development of new engine technologies with advancements in engine-airframe integration and considerable support from the industry and National Aeronautics and Space Administration (NASA) have created huge opportunities for the players and have open the ways for the great revenue generation. Continuous development in the materials & material processing techniques and progress in the combustion technology have contributed towards the growth of the market.
North America region is likely to capture major chunk in the market on account of improvements in the infrastructure and loosening of the strict regulations. U.S. accounted for about 64% of General Aviation Aircraft sold around the world. Asia Pacific region is expected to witness significant growth in the market owing to high growth in the developing economies such as India and China and increasing number of millionaires in the region. Increase in the defense expenditure in Asia Pacific and Middle East & Africa region, the military turbine aircraft market is estimated to grow rapidly. Middle East is expected to offer great opportunities for the business jet and military jet segments. The manufacturers would generate huge revenues by investing in these markets.
Affordable Prices and Increasing Number of Millionaires
The prices of the aircraft have now become affordable for the targeted customers. The customers are increasingly adopting the product for their luxury and business purposes. The developing countries are hugely investing in the product owing to great advancements taking place in the aviation sector. Moreover, the number of millionaires in the world is increasing at high rate. It is estimated that millionaire population would contribute to more than half of the world’s income in 2020.
However, high initial investments are expected to operate as a key restraint towards the growth of the global fixed wing turbine aircraft market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the fixed wing turbine aircraft market which includes company profiling of ATR, Bombardier, Embraer, Boeing, Airbus, Textron Aviation, Pilatus, and Dassault Falcon Jet.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the fixed wing turbine aircraft market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.