Press release
Aircraft Recycling Market 2024-2033: Future Outlook, Global Trends, Industry Share And Top Key Players
Aircraft Recycling Market
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.
Market Overview -
Aircraft recycling refers to aircraft dismantling or aircraft disassembly. Aircraft recycling is the process of disassembling a decommissioned aircraft and recovering its components and materials for reuse or recycling.
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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.
Airbus Spearheads As A Green Revolution With Sustainable Aircraft Recycling Services
Sustainable aircraft recycling services are a key trend gaining popularity in the aircraft recycling market. Major companies operating in the aircraft recycling market are developing sustainable aircraft recycling services to strengthen their position in the market. For instance, in January 2022, Airbus, a France-based aerospace company signed a Memorandum Of Understanding (MOU) with the city of Chengdu and Tarmac Aerosave, a France-based aerospace company for the development of a sustainable aircraft lifecycle service center in China. This agreement allows aircraft parking, maintenance, storage, conversions, upgrades, recycling services, and dismantling for different aircraft.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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