Press release
Aircraft Recycling Market Share, Trends, Size, Major Players And Forecast To 2033
Aircraft Recycling Market Overview
The Business Research Company presents an extensive market research report on the Aircraft Recycling Global Market Report 2024 , furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The aircraft recycling market size has grown strongly in recent years. It will grow from $4.74 billion in 2023 to $5.14 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to fleet retirement and replacement, environmental regulations and sustainability goals, circular economy initiatives, growing value of aircraft components, airline cost reduction strategies.
The aircraft recycling market size is expected to see strong growth in the next few years. It will grow to $6.94 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to increasing fleet size and renewal cycles, regulatory support and standards development, rise of sustainable aviation initiatives, market demand for recycled materials, public awareness of environmental impact. Major trends in the forecast period include advancements in recycling technologies, strategic partnerships and collaborations, technological advancements in aircraft design, global focus on green technologies, technological innovations in recycling processes.
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Key Market Players:
Major companies operating in the aircraft recycling market report are Bombardier Inc., GA Telesis LLC, Evergreen Aviation Technologies Corporation, AerSale Inc., Roswell Aerospace Inc., Apple Aviation Limited, ComAv Technical Services LLC, AerFin Ltd., Jet Midwest Group LLC, Aerothrust Holdings LLC, Vallair Industry Sarl, Aviation International Recycling Ltd., Tarmac Aerosave SAS, Universal Asset Management, AeroTurbine Inc., VAS Aero Services LLC, KLM UK Engineering Limited, Air Salvage International Limited, Total Technic Limited, ARC Aerosystems, GJD AeroTech Ltd., eCube Solutions Ltd., Aerocycle Inc., Sycamore Aviation Ltd., Aircraft Part Out Company Ltd., AELS, ELG Carbon Fibre Limited, AeroMock-Ups Inc., Regional Air Services LLC, Recycled Aircraft Materials Inc.
Market Drivers:
The increase in retired and worn-out aircraft is projected to expand the growth of the aerospace recycling market going forward. Planes that have reached the end of their useful lives or have become too expensive to maintain and operate are classified as retired or worn-out. Through recycling, the most valuable components such as engines and parts can be reused, which provides for the profitability of recycling operations. For instance, the International Civil Aviation Organization (ICAO), a Canada-based specialized agency of the United Nations estimated that every year, around 600-1000 commercial aircraft are retired worldwide. ICAO and Airbus projected that there could be 15,000 retired aircraft by 2040. Therefore, the increase in retired and worn-out aircraft is driving the growth of the aircraft recycling market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/aircraft-recycling-global-market-report
The aircraft recycling market covered in this report is segmented -
1) By Product: Engines, Landing Gear, Avionics
2) By Material: Aluminum, Other Metals And Alloys
3) By Aircraft: Narrow-Body, Wide-Body, Regional
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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