A recent report published by Infinium Global Research on the aircraft recycling market provides in-depth analysis of segments and sub-segments in the global as well as regional aircraft recycling market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional aircraft recycling market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global aircraft recycling market. According to the report, the global aircraft recycling market is projected to reach USD 7.14 Billion by 2027 from USD 4.59 Billion in 2020, growing at a CAGR of 7.63% over the forecast period of 2021-2027.
Aircraft recycling is the process of gathering materials and parts from end-of-life aircraft. The process includes scrapping and taking out useful pieces of the aircraft and reusing those components as scrap or spare parts for various different purposes. The first step of aircraft recycling mainly involves taking apart the aircraft components. Furthermore sorting out all the materials like aluminum, copper, alloy, etc. from the aircraft. These sorted elements and materials are further treated and cleaned in order to avoid them from rusting and damage to the critical components of the aircraft. The increasing number of retired and worn-out aircraft is propelling the market for aircraft recycling worldwide. As per the sources of the Aircraft Fleet Recycling Association, more than 12,000 aircraft can be recycled in the coming years
Rising demand for used serviceable materials (USMs) and the rising awareness for aircraft recycling among airliners to propel the growth of the aircraft recycling market in the upcoming years. Import Restrictions on aging aircraft will boost growth.COVID-19 disruption has impacted the entire supply chain activities across the market which is still a major concern related to material traceability and sorting that will restrain growth in its market. Moreover, maintenance, Repair, and Overhaul (MRO) providers are majorly investing in recycling aircraft to meet the growing need for aircraft parts further helping the market to grow in forecasting years
Among the regions, Europe accounted for the largest share in the global Aircraft Recycling Market. Due to the presence of the major market players in this region and also the rising demand for MRO for civilian aircraft. The demand for the recycled part of these aircraft is more from various operators and airliners, therefore, dominating its market value in upcoming years. However, the European region is anticipated to grow with the highest rate in the global aircraft recycling market over the forecast period. The companies in this region are investing in the advancement of their technologies to extract more recycled parts, components, and materials from the aircraft components further boosting the market revenue for aircraft recycling in the upcoming years
The report on global aircraft recycling market covers segments such as aircraft, product, and material. On the basis of aircraft, the sub-markets include narrow-body, wide-body, and regional. On the basis of product, the sub-markets include component engines, landing gear, and avionics. On the basis of material, the sub-markets include aluminum, and other metals & alloys.
The report provides profiles of the companies in the market such as CAPITAL AVIATION SERVICES (GECAS), KLM UK Engineering, CAVU Aerospace, Vallair Aviation Group, AAR Corporation, AerSale Inc.,, Air Salvage International, Aircraft End-of-Life Solutions (AELS) BV, Bombardier Inc, AJW Group, and Apollo Aviation Group.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of aircraft recycling market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.