Aircraft Recycling Market CAGR Report 2022 - 2030

Ameco Research Analyst implies that the global market for Aircraft Recycling will rise at a CAGR of around 9% throughout the forecast period, with market size of over US$ 9,060 Mn by 2030.

With 15,000 aircraft expected to retire in the next two decades, aircraft recycling offers a wide range of prospects for growing aerospace companies. Asset owners are searching for efficient, revenue-generating, and environmentally sound alternatives for aircraft disposal as the international aerospace community continues to focus on environmental issues and landfill laws grow. Aerospace leaders are creating new techniques for managing end-of-life aircraft, from parts distribution to deconstruction to materials recycling. The current generation of recycled airplanes was not developed with their end-of-life in mind. While current airplanes are being designed with recyclability in mind, there is still a long way to go before aircraft are genuinely sustainable. According to companies that store and disassemble planes, an aircraft's weight can be recycled to the tune of 80 percent to 85 percent. The remainder is disposed of in landfills.
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Market Dynamics

The non-destructive taking apart operation is the first step in the airplane recycling process. Initially, various easily accessible parts such as engines, passenger seats, and other components are removed, leaving only the shell. The huge covering of the airplane is next demolished by a giant excavator. After the shell has been dismantled into small bits, it is transferred to the next step in the recycling process.

Reusable materials from old aircraft are collected and processed and utilized to make computers, circuit boards, and televisions. Some airplane elements can be salvaged or repaired for use in new planes. Using obsolete aircraft equipment like trays, galley carts, and overhead bins in the assembly of new airplanes can assist aircraft manufacturers to keep prices down. In reality, aircraft are being given up work earlier in their lives in order to harvest components, which can yield more revenue than selling them whole. Airplanes are increasingly being designed with recycling and reuse in mind.

In the next 30 years, the worldwide air travel boom that is currently demanding aircraft manufacturers will result in an exponential growth in the number of aircraft retiring. The issue of aircraft recycling, like many other concerns under the green aviation umbrella, will not be solved quickly.
This problem necessitates whole-system thinking for the industry to be genuinely successful. From materials to construction procedures, the design of a plane should examine how each component may be reused or recycled. The recycling process should, in theory, become streamlined and standardized, making it a seamless part of a plane's life cycle. Aircraft recycling will lead to a cleaner future for the aviation industry and the planet if it is done collaboratively and holistically.
Major Players

The top players offered in the report include Aircraft Part Out Company (APOC), Sycamore Aviation, Aircraft End-of-Life Solutions (AELS), ComAv - Commercial Aviation Services, Aviation International Recycling, AIR SALVAGE INTERNATIONAL LTD, Total Technic Ltd., and Tarmac Aerosave.

Global Aircraft Recycling Market Classification

The aircraft recycling market is divided into three categories: aircraft type, product, and geography. The aircraft type segment can be categorized into wide-body and narrow-body. Among them, the narrow-body gathered the leading market share in 2021. Low-cost airlines around the world are currently relying on narrow-body aircraft fleets (and often the smaller aircraft within that category), indicating that small aircraft are more fuel-efficient and thus cost-effective than large aircraft. Such variables help to drive segmental expansion, which in turn helps to drive overall market growth.

Component (engines, landing gear, avionics, others) and material (aluminum, other metals & alloys, other materials) are the categorizations of product segments. Engines among component segments achieved the largest market share in 2021. According to the ATAG report, aircraft engine maker Rolls-Royce has devised a recycling program to recover and recycle unusual materials that are already in operation at over 100 locations across the world.

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Regional Stance

North America, Asia-Pacific, Latin America, Europe, and the Middle East & Africa (MEA) are the regional categorization of the global aircraft recycling market. Among all the regions, North America gathered a significant amount of share in 2021 and is expected to continue its dominance throughout the forecast period 2022 - 2030. Furthermore, the Asia-Pacific region is likely to attain the fastest growth rate in the coming years. As airline passengers become more conscious of the need of recycling their planes, the aircraft recycling market is rising. The rapid growth of India's, China's, and Japan's aviation sectors are compelling the industry to adopt recycled aircraft components, which are not only cost-effective but also have a low environmental impact. Aircraft Recycling International recently constructed a recycling facility in Heilongjiang, China, with a 20-aircraft annual effective processing capacity. Mesco Aerospace India is working on an airplane recycling project. In the next years, these changes will benefit the regional market.

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This release was published on openPR.