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Future of Aircraft Recycling Market: Size, Share & Forecasts to 2029
Aircraft Recycling Market
What Is the Projected Market Size Valuation of the Aircraft Recycling Market by 2025?
The size of the aircraft recycling market has seen substantial growth lately. Its expansion is forecasted to accelerate from $5.03 billion in 2024 to $5.39 billion in 2025, marking a compound annual growth rate (CAGR) of 7.1%. Factors responsible for this growth during the historic period include retiring and replacement of fleet, environmental regulations and sustainability objectives, circular economy strategies, an increase in the scra*p value of aircraft parts, and strategies aimed at reducing costs among airlines.
What Is the Estimated Market Growth Value for the Aircraft Recycling Industry in 2029?
In the coming years, robust growth is predicted for the aircraft recycling market, which is forecasted to reach $7.16 billion in 2029, achieving a compound annual growth rate (CAGR) of 7.3%. This growth in the projected period can be credited to factors such as the expansion in fleet size and renewal cycles, regulatory aid and standards development, the emergence of sustainable aviation initiatives, the market's demand for recycled materials, and an enhanced public understanding of environmental impacts. Major trends for the period under forecast comprise advancements in recycling technologies, strategic alliances and collaborations, technological progression in aircraft design, global attention towards eco-friendly technologies and innovative advancements in recycling processes.
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What Are the Growth Drivers and Opportunities in the Aircraft Recycling Market?
The growth of the aerospace recycling market is anticipated to be bolstered by an uptick in the number of retired and decommissioned aircraft. Aircraft that have exhausted their lifespan or have become financially inefficient to maintain and operate fall under the category of retired or worn out. Recycling allows for the reuse of valuable components like engines and parts, contributing to the economic viability of the process. For example, the International Civil Aviation Organization (ICAO), a specialized agency of the United Nations based in Canada, predicted that each year approximately 600-1000 commercial aircraft are retired globally. Similarly, estimations from ICAO and Airbus indicate the potential for 15,000 aircraft to be retired by 2040. Consequently, the rise in retired and worn-out aircraft is fuelling the expansion of the aircraft recycling market.
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What Are the Primary Segments Covered in the Global Aircraft Recycling 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
Subsegments:
1) By Engines: Turbine Engines, Piston Engines, Engine Components and Parts
2) By Landing Gear: Main Landing Gear Assemblies, Nose Landing Gear Assemblies, Landing Gear Components
3) By Avionics: Communication Systems, Navigation Systems, Flight Control Systems, Monitoring and Display Systems
What Are the Top Growth Trends in the Aircraft Recycling Market?
The growing prominence of sustainable aircraft recycling services is a significant trend observed in the aircraft recycling market. To bolster their market standing, principal companies in this sector are focusing on the development of sustainable aircraft recycling services. A case in point, in January 2022, Airbus, an aerospace company headquartered in France, entered into a Memorandum Of Understanding (MOU) with the city of Chengdu and Tarmac Aerosave, another France-based aerospace firm, for the establishment of a sustainable aircraft lifecycle service center in China. This pact facilitates various services like aircraft parking, maintenance, storage, conversions, upgrades, recycling, and dismantling for diverse aircraft types.
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Which Companies Are Shaping the Future of the Aircraft Recycling Market?
Major companies operating in the aircraft recycling market include Aircraft Solutions USA, AELS (Aircraft End-of-Life Solutions), Aviation International Recycling LLC, Bartin Aero Recycling, CAVU Aerospace, ELG Carbon Fibre Ltd, GA Telesis LLC, Aircraft Demolition LLC, Air Salvage International Ltd, Universal Asset Management Inc, Airplane Recycling, Ecube Solutions Ltd, Lufthansa Technik AG, Tarmac Aerosave, Vallair Solutions, AerSale Inc, AvAir, Boeing Global Services, A J Walter Aviation Limited, Aircraft End-of-Life Solutions BV, Magnetic MRO AS, AELS BV, ATS Group, Delta Material Services
Which Region Holds the Largest Market Share in the Aircraft Recycling Industry?
North America was the largest region in the aircraft recycling market in 2024. The regions covered in the aircraft recycling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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