Turboprops - Greece

  • Greece
  • Revenue in the Turboprops market is projected to reach US$10.00m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2025) of 20.00%, resulting in a projected market volume of US$12.00m by 2025.
  • In the Turboprops market, the number of deliveries is projected to amount to 2.00 in in Greece in 2024.
  • The average price per aircraft is expected to amount to US$5.00m.
 
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Analyst Opinion

Turboprops are seeing a resurgence in aviation due to their unique combination of efficiency, reliability, and suitability for short-haul and regional routes. This aircraft type is favored for its ability to operate in challenging environments and on shorter runways, making it an attractive option for airlines and operators looking to serve remote areas and secondary cities.

In North America, the use of turboprops is largely driven by the need for efficient regional connectivity, especially in less densely populated areas. Airlines are utilizing these aircraft to maintain frequent service on routes where demand does not justify larger jets, thus optimizing load factors and operational costs. The versatility of turboprops also makes them popular for cargo conversion, as operators look for cost-effective solutions to support growing e-commerce logistics.

Europe's Turboprop market is shaped by the region's emphasis on environmental sustainability and regulatory measures aimed at reducing emissions. Turboprops are viewed as a more eco-friendly option for short-haul travel due to their lower fuel consumption compared to jet engines. Additionally, the continent's extensive network of smaller airports with short runways aligns well with the capabilities of these aircraft, enabling airlines to offer services to communities that are otherwise inaccessible by larger planes. Increased interest in regional tourism is further driving demand for turboprops, which can reach destinations with limited aviation infrastructure.

Asia-Pacific presents a diverse landscape where turboprops are essential for connecting islands, mountainous regions, and other hard-to-reach areas. Countries with fragmented geography, such as Indonesia and the Philippines, rely heavily on turboprop aircraft to connect communities separated by water or rugged terrain. The expansion of low-cost carriers in the region is also contributing to the growth of the turboprop segment, as these operators look to tap into underserved markets with smaller aircraft that provide flexible and affordable options for passengers.

In Latin America, turboprops are valued for their capability to operate in remote areas with minimal infrastructure, such as the Amazon rainforest or high-altitude Andean airports. The region's economic activities, including agriculture and mining, generate demand for aircraft that can transport workers and supplies to isolated sites. Moreover, turboprops are used extensively for humanitarian missions and medical evacuations, given their ability to access challenging locations.

Africa’s aviation needs are well-matched to the rugged and versatile nature of turboprops, which can handle unpaved airstrips and operate in harsh environments. The aircraft are vital for connecting rural communities to urban centers and for supporting industries like tourism, which often requires access to remote safari lodges. With limited aviation infrastructure across many parts of the continent, turboprops provide a practical solution for improving regional connectivity and supporting economic development.

Methodology

Data coverage:

The data encompasses B2B enterprises. Figures are based on the activities of the Turboprops market including deliveries, revenue, and average aircraft prices.

Modeling approach:

Market sizes are determined through a combined bottom-up and top-down approach, building on specific rationale for each market. As a basis for evaluating markets, we use annual and monthly reports of manufacturers, third-party studies, reports from industry associations, and price data.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.

Overview

  • Deliveries
  • Revenue
  • Average Price per Aircraft
  • Analyst Opinion
  • Global Comparison - Revenue
  • Methodology
  • Key Market Indicators
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