Aircraft Recycling Market

Aircraft Recycling Market Segmentation by Aircraft (Narrow-Body, Wide-Body, and Regional); and by Product {Component (Avionics, Engine, Landing Gears, and Others), and Material (Metals, Alloys, and Others)} - Global Demand Analysis & Opportunity Outlook 2031

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Report ID: 4098 | Published On: Feb 01, 2023

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Despite Inflation & Recession News, Businesses Across the Globe Expected to Do Better in 2023

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.


In The News

  • May 9, 2022: BAE System to launch the next-generation heavy-duty industrial vehicle based on an electric drive system in the market.

  • April 3, 2020: CAVU Aerospace Inc. receives the EASA 145 maintenance organization approval for its CAVU Component Repair (CCR) aerospace division.


Global Aircraft Recycling Market Highlights Over 2022 - 2031

The global aircraft recycling market is estimated to garner notable revenue by growing at a CAGR of ~8% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to factors, such as, heavy utilization of costly materials and components, the rising manufacturing of commercial aircraft, tenable recycling of aircraft, growing awareness of green aviation also demonstrated as green practice bolster, and others. Additionally, a report published by International Air Transportation Association (IATA) demonstrated that the delivery of 12,000 new aircraft for scrapping was due in 2020, while Aircraft Fleet Recycling Association (AFRA) stated that these new aircraft can be scrapped in the forthcoming 20 years. The report further showed that the manufacturers are constantly working to launch 100% recyclable aircraft.  Aircraft recycling is a procedure of harvesting reusable parts from obsolete aircraft such as, windshields, landing gears, seats, and other parts made of glass, steel, and aluminum. The aircraft recycling process is very organized that includes multiple stages that are dismantling, narrowing down all the components by their materials, and cleaning all parts to prevent rust and damage. Furthermore, the manufacturing of commercial aircraft is noticed to be increasing in recent decades. For instance, in 2020, global commercial aircraft manufacturing amounted to approximately USD 165 billion.

Aircraft Recycling Market

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The market is segmented by product into component and material, out of which, the material segment is anticipated to hold the notable share in the global aircraft recycling market on account of the significant utilization of aluminum in aircraft manufacturing. Aluminum has lightweight properties and modern aircraft are becoming lighter and lighter compared to old models. Hence, all these factors are estimated to boost the growth of the material segment over the forecast period.


Major Macro-Economic Indicators Impacting the Market Growth

Major Macro-Economic Indicators Impacting the Market Growth

In 2019, the world’s total energy supply was 606EJ, wherein the highest share in terms of the source was captured by oil, accounting for 30.9%, followed by coal (26.8%), natural gas (23.2%), biofuels and waste (9.4%), nuclear (5.0%), hydro (2.5%), and other (2.2%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to a decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 1% due to the outbreak of Coronavirus resulting in government-imposed shutdowns in order to limit the spread of the virus, which was further followed by the shutdown of numerous business operations impacting their growth. This also resulted in the decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas, and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environmental degradation and awareness related to climate change are motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.


Global Aircraft Recycling Market Regional Synopsis

Regionally, the global aircraft recycling market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in North America region is estimated to witness noteworthy growth over the forecast period on the back of growing requirements for MRO of aircraft and the presence of major manufacturers of aircraft and their components in the region. For instance, in 2018, the aircraft manufacturing industry in the USA was valued at about USD 150 billion. Furthermore, Americans still struggle to understand the recycling system thoroughly, therefore a rising awareness about recycling can be observed in the region. Further, the demand for recycled aircraft parts is growing exponentially owing to increasing aircraft manufacturing in the region. For instance, in 2020, the US aircraft manufacturing industry was valued at about USD 135 billion. Other factors such as, escalating demand for more aircraft on account of the presence of a higher passenger pool and higher number of airports are also anticipated to propel the growth of the market during the forecast period in the region. In 2019, the number of airports in the United States was estimated to be more than 20,000.

Aircraft Recycling Market Share

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The global aircraft recycling market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook

  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook

  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook


Aircraft Recycling Market
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Market Segmentation

Our in-depth analysis of the global aircraft recycling market includes the following segments:

By Aircraft

  • Narrow-Body
  • Wide-Body
  • Regional

By Product

  • Component 
  • Avionics
  • Engine
  • Landing Gears
  • Others 
  • Material 
  • Metals
  • Alloys
  • Others

Growth Drivers

  • Significant Utilization of Expensive Materials and Components
  • Growing Manufacturing of Commercial Aircraft
  • Sustainable Recycling of Aircraft
  • Raising Awareness of Green Aviation

Challenges

  • Lack of Requisite Technology and Knowledge
  • Requirement of High Initial Investment


Major Macro-Economic Indicators Impacting the Market Growth
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Top Featured Companies Dominating the Market

    • AerSale Inc
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • CAVU Aerospace Inc.
    • BAE Systems plc
    • Bombardier Inc.
    • Lockheed Martin Corporation
    • Air Salvage International Limited
    • HVF West LLC.
    • Adherent Technologies, Inc.
    • European Aviation Group
    • Airbus S.A.S.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the aircraft recycling market?

Ans: Growing utilization of expensive materials and components, and increasing manufacturing of commercial aircraft are the major factors driving the growth of the aerospace forging market.

2) What would be the CAGR of aircraft recycling market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~8% over the forecast period, i.e., 2022 - 2031.

3) What are the challenges affecting the aircraft recycling market growth?

Ans: Lack of required technology and knowledge, and the need for high initial investment are estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of aircraft recycling market in future?

Ans: North America region will provide more business opportunities for growth of the aircraft recycling market in the future on the back of growing requirements for MRO of aircraft and the presence of major manufacturers of aircraft.

5) Who are the major players dominating the aircraft recycling market?

Ans: The major players in the market are AerSale Inc., CAVU Aerospace Inc., BAE Systems plc, Lockheed Martin Corporation, Air Salvage International Limited, HVF West LLC., Adherent Technologies, Inc., and Airbus S.A.S.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the aircraft recycling market?

Ans: The market is segmented by aircraft, product, and by region.

8) Which sub-segment captures the largest market size in the product segment in the aircraft recycling market?

Ans: The material segment is anticipated to hold the largest market size in value over the forecast period and display significant growth opportunities.

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