April 30, 2024
Boston: “According to the latest BCC Research study, the demand for Global Aircraft Recycling Marketis growing from $4.7 billion in 2023 to $9.7 billion by the end of 2028, at a compound annual growth rate (CAGR) of 15.8% from 2023 through 2028.”
This report scopes the global aircraft recycling market based on parts, materials, aircraft types, and recycling processes. The market is divided into four regions: North America, Europe, Asia Pacific, and Rest of the World (RoW). North America will account for more than half of the global market by 2022.
Aircraft recycling is dominated by engines, which account for more than 70% of their total value. Recycling aircraft materials is more efficient and cost-effective than raw materials, with recycling rates as high as 99% in some cases. This highlights the sector's potential to significantly improve sustainability and resource efficiency.
To know more about the Global Aircraft Recycling Market report, click here for more details.
Key Drivers of the Global Aircraft Recycling Market
Growth of Global Aircraft Fleet: More aircraft are flying worldwide, and as older aircraft are retired, recycling them is essential to sustainably manage the fleet and recover valuable parts.
High MRO (Maintenance, Repair, and Overhaul) Cost of Aircraft: Maintenance costs for older aircraft are high. Recycling provides a cheaper way to recover parts, lowers maintenance costs, and makes aircraft ownership more affordable.
Advances in Aircraft Technology: Newer planes are more efficient and safer. Recycling old models helps airlines transition to these greener options and drives innovation in sustainable aviation.
Low Prices of Old Aircraft Parts and Materials: Used aircraft parts are cheaper than new aircraft parts. Recycling allows these parts to be resold, saving airlines and customers money while reducing waste.
High Cost of Storing a Flying-Condition Airframe: Keeping unused planes in flying condition is pricey. Recycling allows airlines to break them down, saving on inventory costs and cost-effectively for all involved.
Request a Sample Copy of the Global Aircraft Recycling Market Report.
Report Synopsis
Report Metrics |
Details |
Base year considered |
2022 |
Forecast Period considered |
2023-2028 |
Base year market size |
$4.0 billion |
Market Size Forecast |
$9.7 billion |
Growth Rate |
CAGR of 15.8% from 2023 to 2028 |
Segment Covered |
By Component, Material, Aircraft Type, Recycling Process, and Region |
Regions covered |
North America, Europe, Asia-Pacific, and the Rest of the World (RoW) |
Key Market Drivers |
|
Segmentation Analysis:
This report on the Global Aircraft Recycling Market provides comprehensive insights and analysis, addressing the following key questions:
1. What is the projected market size and growth rate of the market?
2. What are the key factors driving the growth of the market?
3. What segments are covered in the market?
4. By Components, which segment will dominate the market by 2028?
5. Which region has the highest market share in the market?
Some of the Key Market Players Are:
Browse Related Reports:
Global Markets for Advanced Aerospace Materials: This report studies the growing use of advanced materials in the aerospace industry, focusing on key regions such as the Americas, Europe, and Asia-Pacific. It analyzes materials such as advanced alloys and composites and their applications in the commercial and defence industries. The study highlights the materials most likely to be commercialized by 2028, providing insight into market dynamics and regional changes, and a detailed look at industry trends and prospects.
Directly Purchase a copy of the report with BCC Research.
For further information or to make a purchase, please get in touch with info@bccresearch.com.
Global Aircraft Recycling Market( AVM250A )
Publish Date: Apr 2024
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. For media inquiries, email press@bccresearch.com or visit www.bccresearch.com/media to request access to our library of market research.