Press release
Aircraft Recycling Market 2024-2033: Rising Trends, Global Outlook, Industry Size And Major Players
Aircraft Recycling Market
The Business Research Company offers in-depth market insights through Aircraft Recycling Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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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Market Segmentation:
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
Major Driver - The Role Of Aerospace Recycling In Managing Retired Aircraft
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.
Competitive Landscape:
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.
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Top Trend - Emirates Launches Pioneering Aircraft Recycling Program For A380 Fleet To Focus On Sustainability And Value Creation
Major companies operating in aircraft recycling market are focused on developing innovative aircraft recycling program to sustain their position in the market. Recycling programs often target high-value components like landing gear and engines, neglecting a significant volume of materials. This oversight results in either burdening landfill sites with substantial waste or leaving materials stranded without the potential to generate value. For instance, in November 2021, Emirates, a UAE-based airline company launched First-Of-Its-Kind Recycling Program For A380 Fleet. Emirates Airline's fleet of Airbus A380s, featuring four engines and a double-decker design, is set for a unique transformation. In collaboration with Falcon Aircraft Recycling based in the UAE, the initial retired A380 aircraft will undergo a process of ""upcycling and recycling,"" as announced by Emirates. The objective of this program is to minimize the environmental footprint associated with the deconstruction process.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Aircraft Recycling Market Characteristics
3. Aircraft Recycling Market Trends And Strategies
4. Aircraft Recycling Market - Macro Economic Scenario
5. Aircraft Recycling Market Size And Growth
…..
27. Aircraft Recycling Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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