Dublin, April 17, 2024 (GLOBE NEWSWIRE) -- The "Global Aircraft Recycling Market 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global market for aircraft recycling is expected to grow from $4.7 billion in 2023 and is projected to reach $9.7 billion by the end of 2028, at a compound annual growth rate (CAGR) of 15.8% during the forecast period of 2023-2028.
The global market for engines in aircraft recycling is expected to grow from $3.6 billion in 2023 and projected to reach $7.9 billion by 2028, at a CAGR of 16.9% during the forecast period of 2023-2028.
The global market for landing gear component in aircraft recycling is expected to grow from $532.8 million in 2023 and projected to reach $1.04 billion by 2028, at a CAGR of 14.2% during the forecast period of 2023-2028.
Market Summary
The aircraft recycling business is an emerging industry that is not only important for environmental protection and the circular economy, is also an economically viable option for stakeholders involved in the aviation industry. Studies show that, in most cases, up to 80% to 85% of an aircraft can be recycled (AN Aviation Services Co., 2023), and in some cases, up to 99% (Airport-technology.com, 2017), although to recycle 99% is a costly process.
The aviation industry is working to meet sustainable goals and is also making significant advances across a range of sustainability issues, from making aircraft more fuel-efficient to recycling them in a sustainable manner, the latter of which is a key step for sustainable aviation. Sustainability in the aviation industry is defined as meeting environmental, economic, and societal development goals, and managing these is more challenging than in other industries. Although the same issues apply to the recycling sector as a whole, aircraft recycling is more challenging than other types of recycling, due to the large size of aircraft, the labor-intensive nature of recycling them, technological complexities, and strict regulations across regions.
The aircraft dismantling and recycling industry is not an independent industry that only includes participation from major dismantling companies or recyclers. Instead, it includes various stakeholders that are connected to aviation manufacturing and its maintenance, companies involved in waste recycling, and civil aviation and environmental protection agencies. The industry is led by organizations such as the International Civil Aviation Organization (ICAO), the Aircraft Fleet Recycling Association (AFRA), and the International Air Transport Association (IATA). These organizations are involved in formulating the guidelines and regulations for the aircraft dismantling and recycling industry, and they promote the standardization of it.
Aircraft recycling is a profitable business. The average value of parts from each end-of-life aircraft can range anywhere from $1 million to $3 million, depending on the condition of the equipment, which can include engines, landing gear, and avionics (International Civil Aviation Organization, 2017). The market's recent surge is due to an increasing number of retired aircraft available for recycling, and the coming decade will see a fourfold increase in retired aircraft that will be ready for recycling. According to AFRA, around 12,000 commercial aircraft will be retired by 2040 (Aerocycle, 2019).
In this report, the scope of the global aircraft recycling market is defined on the basis of components, materials, aircraft type, and recycling process. The market has been categorized into four regions: North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America accounted for more than half of the global market in 2022.
The Report Includes
- 40 data tables and 29 additional tables
- An overview of the global market for aircraft recycling
- Analysis of global market trends, featuring historical revenue data for 2022, estimated figures for 2023, forecasts for 2028, and projections of compound annual growth rates (CAGRs) through 2028
- Evaluation of the current market size and revenue growth prospects specific to aircraft recycling, along with a market share analysis by component, material, aircraft type, recycling process, and geographic region
- Coverage of the latest developments in the aircraft recycling industry, including R&D, emerging technologies, government regulations and mandates, and economic trends
- ESG trends
- Market share analysis of the key companies in the industry and coverage of their proprietary technologies, patents, strategic alliances, and other market strategies
- Profiles of leading companies:
- Aircraft End-Of-Life Solutions (AELS)
- Aerocycle
- Aircraft Recycling International
- Cavu Aerospace Inc.
- Comav
- Ecube
- Eirtrade Aviation
- Jet Aircraft Services
- Tarmac Aerosave
- Vallair
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 80 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $4.7 Billion |
| Forecasted Market Value (USD) by 2028 | $9.7 Billion |
| Compound Annual Growth Rate | 15.8% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Executive Summary
Chapter 2 Market Overview
Chapter 3 Market Dynamics
Chapter 4 Emerging Technologies and Developments
- Emerging Technologies
- Additive Manufacturing (3D Printing)
- Composite Recycling Technologies
- Advanced Sorting and Separation Techniques
- Patent Analysis
- Significance of Patents
Chapter 5 Market Segmentation Analysis
- Market Breakdown by Component
- Engines
- Landing Gear
- Avionics
- Other Components
- Market Breakdown by Material
- Aluminum
- Steel
- Composites
- Titanium
- Other Materials
- Market Breakdown by Aircraft Type
- Commercial Aircraft
- General Aircraft
- Military Aircraft
- Market Breakdown by Recycling Process
- Mechanical
- Chemical
- Geographic Breakdown
- Market Breakdown by Region
- North America
- Europe
- Asia-Pacific
- Rest of the World
Chapter 6 Competitive Intelligence
- Top Players
- Strategic Analysis
Chapter 7 Sustainability in the Aircraft Recycling Market: ESG Perspective
- ESG in the Aircraft Recycling Market
- ESG Metrics: Understanding the Data
For more information about this report visit https://www.researchandmarkets.com/r/jjik07
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