Report

Global Aircraft Recycling Market Size Study, by Aircraft Type (Narrow-Body, Wide-Body, Regional), by Component (Engines, Landing Gear, Avionics, Others) and Regional Forecasts 2024-2032

  • Publish Date: Sep,2024
  • Report ID: 3-1-1848
  • Page : 200
  • Report Type : PDF (Email)
Global Aircraft Recycling Market was valued at approximately USD 4.69 Billion in 2023 and is anticipated to grow at a compound annual growth rate (CAGR) of 9.02 % over the forecast period from 2024 to 2032. Aircraft recycling involves the dismantling and repurposing of decommissioned or outdated aircraft to recover valuable materials and reduce environmental impact. This process includes the removal of hazardous substances, such as fluids and batteries, followed by the extraction of reusable components like engines, avionics, and landing gear. The remaining structure is then shredded and sorted to reclaim metals, plastics, and other materials for reuse in manufacturing. Aircraft recycling helps conserve resources, minimize waste, and promote sustainability within the aviation industry. Furthermore, the increased emphasis on sustainable and environmentally responsible practices within the aviation industry, coupled with rising economic incentives associated with aircraft dismantling and recycling, is propelling the market growth. The shift towards sustainability is driven by heightened awareness of the environmental impacts and climate change concerns, prompting stakeholders to adopt responsible end-of-life management for aircraft.

Regulatory bodies worldwide are implementing stringent regulations and guidelines to ensure that aircraft are decommissioned and disposed of in an environmentally sound manner. Compliance with these regulations not only meets legal requirements but also enhances the corporate social responsibility and sustainability profiles of aviation companies. The circular economy concept further drives the growth of aircraft recycling, as stakeholders recognize the economic value of recycling aircraft materials. Salvaging and reusing components and materials from retired aircraft minimizes waste, contributes to resource efficiency, and reduces the reliance on virgin materials, thereby mitigating the environmental impact associated with their extraction and production. Airlines and aircraft manufacturers are increasingly integrating sustainability into their business strategies, considering the entire life cycle of an aircraft from design to disposal. The economic benefits of aircraft recycling are significant, as salvaging valuable materials such as aluminium, titanium, and composites from retired aircraft enables their resale and reuse in various industries. This economic incentive encourages the development of advanced recycling technologies and facilities, fostering a robust market for aircraft recycling services.

The key region in the Global Aircraft Recycling Market includes North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2023, the North American Aircraft Recycling market dominates in terms of revenue due to its extensive fleet of aging aircraft, stringent environmental regulations necessitating responsible disposal practices, and a well-established infrastructure for aerospace maintenance, repair, and overhaul (MRO) services. Europe's Aircraft Recycling market accounts for the second-largest market share, driven by strict environmental regulations, sustainability initiatives, and a commitment to circular economy principles. The Asia-Pacific Aircraft Recycling Market is expected to grow at the fastest CAGR, driven by the region's expanding aviation industry, rapid fleet modernization, and increasing emphasis on sustainable practices.

Major market players in this report include:
Aircraft End-of-Life Solutions (AELS)
Aircraft Part Out Company (APOC)
AIR SALVAGE INTERNATIONAL LTD
Aviation International Recycling
Tarmac Aerosave
Total Technic Ltd.
Airbus
Boeing
DAE International
Amentum
AerSale Inc.
Vallair Solutions
Universal Asset Management Inc.
GA Telesis LLC
Magellan Aviation Group
The detailed segments and sub-segment of the market are explained below:
By Aircraft Type
Narrow-Body
Wide-Body
Regional
By Component
Engines
Landing Gear
Avionics
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.