Aviation's next frontier: accelerating sustainable
aircraft reuse, addressing industry challenges and
opportunities.
BOSTON, April 30,
2024 /PRNewswire/ -- "According to the latest BCC
Research study, the demand for Global Aircraft Recycling
Market is growing from $4.7
billion in 2023 to $9.7
billion by the end of 2028, at a compound annual growth rate
(CAGR) of 15.8% from 2023 through 2028."
This report scopes the global aircraft recycling market based on
parts, materials, aircraft types, and recycling processes. The
market is divided into four regions: North America, Europe, Asia
Pacific, and Rest of the World (RoW). North America will account for more than half
of the global market by 2022.
Aircraft recycling is dominated by engines, which account for
more than 70% of their total value. Recycling aircraft materials is
more efficient and cost-effective than raw materials, with
recycling rates as high as 99% in some cases. This highlights the
sector's potential to significantly improve sustainability and
resource efficiency.
To know more about the Global Aircraft Recycling Market report,
click here for more details.
Key Drivers of the Global Aircraft Recycling Market
Growth of Global Aircraft Fleet: More aircraft are flying
worldwide, and as older aircraft are retired, recycling them is
essential to sustainably manage the fleet and recover valuable
parts.
High MRO (Maintenance, Repair, and Overhaul) Cost of
Aircraft: Maintenance costs for older aircraft are high.
Recycling provides a cheaper way to recover parts, lowers
maintenance costs, and makes aircraft ownership more
affordable.
Advances in Aircraft Technology: Newer planes are more
efficient and safer. Recycling old models helps airlines transition
to these greener options and drives innovation in sustainable
aviation.
Low Prices of Old Aircraft Parts and Materials: Used
aircraft parts are cheaper than new aircraft parts. Recycling
allows these parts to be resold, saving airlines and customers
money while reducing waste.
High Cost of Storing a Flying-Condition Airframe: Keeping
unused planes in flying condition is pricey. Recycling allows
airlines to break them down, saving on inventory costs and
cost-effectively for all involved.
Request a Sample Copy of the Global Aircraft
Recycling Market Report.
Report Synopsis
Report
Metrics
|
Details
|
Base year
considered
|
2022
|
Forecast Period
considered
|
2023-2028
|
Base year market
size
|
$4.0 billion
|
Market Size
Forecast
|
$9.7 billion
|
Growth Rate
|
CAGR of 15.8% from 2023
to 2028
|
Segment
Covered
|
By Component, Material,
Aircraft Type, Recycling Process, and Region
|
Regions
covered
|
North America, Europe,
Asia-Pacific, and the Rest of the World (RoW)
|
Key Market
Drivers
|
- Growth of Global
Aircraft Fleet
- High MRO Cost of
Aircraft
- Advances in
Aircraft Technology
- Low Prices of Old
Aircraft Parts and Materials
- High Cost of
Storing a Flying-Condition Airframe
|
Segmentation Analysis:
- Components: Aircraft recycling targets valuable
components like engines, landing gear, avionics, and smaller parts,
for reuse and disposal.
- Materials: Aluminium, steel, composites, titanium,
and other materials are recycled from aircraft to conserve
resources and minimize waste.
- Aircraft Types: Commercial and general aircraft,
including narrow and wide-body planes, as well as military
aircraft, undergo tailored recycling processes.
- Recycling Process: Mechanical and chemical methods
disassemble aircraft to salvage components and materials, ensuring
efficient and sustainable recycling practices.
This report on the Global Aircraft Recycling Market provides
comprehensive insights and analysis, addressing the following key
questions:
- What is the projected market size and growth rate of the
market?
The global aircraft recycling market was valued at $4.0 billion in 2022 and will reach $9.7 billion by 2028, and the growth rate is
15.8% for the forecast period 2023-2028.
- What are the key factors driving the growth of the market?
- Growth of the global aircraft fleet.
- High maintenance, repair, and overhaul (MRO) cost of
aircraft.
- Technological advancements in current aircraft technology.
- Low prices of old aircraft parts and materials.
- High cost of storing a flying condition airframe.
- What segments are covered in the market?
The aircraft recycling market is segmented based on Components,
Materials, Aircraft Type, and Recycling Process. The Component
segment is categorized into Engines, Landing Gears, Avionics, and
Other; the Materials segment is categorized into Aluminium, Steel,
Composites, Titanium, and Other; the Aircraft Type is categorized
into Commercial, General, and Military; and the Recycling Process
is categorized into Mechanical and Chemical.
- By Components, which segment will dominate the market by
2028?
The Engine segment dominates the component segment.
- Which region has the highest market share in the market?
North America has the highest
market share in the market; the market is holding the highest share
based on various factors such as major presence of aircraft and
recyclers in the region, easy and fast technological penetration in
the region, and favourable government support for sustainable
aviation practices and environmental stewardship.
Some of the Key Market Players Are:
- AIRCRAFT END-OF-LIFE SOLUTIONS (AELS) BV
- AEROCYCLE
- AIRCRAFT RECYCLING INTERNATIONAL LTD.
- CAVU AEROSPACE INC.
- COMAV (COMMERCIAL AVIATION SERVICES)
- ECUBE
- EIRTRADE AVIATION
- JET AIRCRAFT SERVICES
- TARMAC AEROSAVE
- VALLAIR
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Directly Purchase a copy of the
report with BCC Research.
For further information or to make a purchase, please get in
touch with info@bccresearch.com.
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