Categories: Market Research

Aircraft Recycling Market Growth Trajectory Through 2024-2033

The Aircraft Recycling Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Aircraft Recycling Global Market Report 2024, The aircraft recycling market size has grown strongly in recent years. It will grow from $4.74 billion in 2023 to $5.14 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to fleet retirement and replacement, environmental regulations and sustainability goals, circular economy initiatives, growing scrap value of aircraft components, airline cost reduction strategies.

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.

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.

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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

Major companies operating in aircraft recycling market are focused on developing innovative aircraft recycling program to sustain their position in the market. Recycling programs often target high-value components like landing gear and engines, neglecting a significant volume of materials. This oversight results in either burdening landfill sites with substantial waste or leaving materials stranded without the potential to generate value. For instance, in November 2021, Emirates, a UAE-based airline company launched First-Of-Its-Kind Recycling Program For A380 Fleet. Emirates Airline’s fleet of Airbus A380s, featuring four engines and a double-decker design, is set for a unique transformation. In collaboration with Falcon Aircraft Recycling based in the UAE, the initial retired A380 aircraft will undergo a process of “upcycling and recycling,” as announced by Emirates. The objective of this program is to minimize the environmental footprint associated with the deconstruction process.

The aircraft recycling market report table of contents includes:

1. Executive Summary
2.Aircraft Recycling Market Characteristics
3. Aircraft Recycling Market Trends And Strategies
4. Aircraft Recycling Market analysis
5. Aircraft Recycling Market Size And Growth
6.Aircraft Recycling Segmentation
7.Aircraft Recycling Regional And Country Analysis
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27. Aircraft Recycling Competitive Landscape And Company Profiles
28.Aircraft Recycling Key Mergers And Acquisitions
29.Aircraft Recycling Future Outlook and Potential Analysis

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