The global aircraft recycling  market is anticipated to grow at a significant CAGR of 7.9% during the forecast period. The key factor driving the aircraft recycling market is increased number of retired and worn-out aircrafts across the globe. According to the Aircraft Fleet Recycling Association, in 2020, more than 12,000 aircraft has been recycled in 2020. The aircraft recycling market is entirely dependent on availability of number of retired aircrafts and it can not grow without availability of retired aircrafts. Further, aircraft recycling is set to flourish, as the number of retired aircrafts was 6,329 in August 2021 globally, which is more than 2,167 in 2019. 

Impact of COVID-19 Pandemic on Global Aircraft Recycling Market

The COVID-19 pandemic had changed the dynamics of aircraft recycling market. According to aviation data source circum, the complete closure and then partial closure of international travel resulted in retirement of two-thirds of the world’s airliners. Since March 2019, the demand for metal scrap generated from planes has been gradually reduced, while demand for specific engine types directed towards zero. If aircraft industry does not pick up the speed again, the fall in the scrap market might impact severely on small and medium recycling firms. With fall in demand for crucial material, the path to recycle may weaken within the aviation industry. However, industry stakeholders predict that the current situation may transform in 2022. 

Segmental Outlook 

The global aircraft recycling market is segmented based on the component and material. Based on the component, the market is sub-segmented into engine, landing gear, avionics, and others. The other components include fuselage, wings, and empennage. Based on the material, the market is sub-segmented into the aluminum, wires, carbon fiber, metal & alloys, and others which includes steel alloys & glass. The above mentioned segments can be customized as per the requirements. Among the materials segment carbon fiber has been difficult to recycle. Similar to the other composite metals, carbon fibers cannot be melted down and restructured. 

Global Aircraft Recycling Market Share by Material, 2020 (%)

Carbon Fiber Segmet is Anticipated to Propel the Growth of the Global Aircraft Recycling Market

Among the material segment the carbon fiber is expected to cater considerable CAGR during the forecast period (2021-2027). Carbon fiber is the essential material used in aircraft to produce things which are both strong and light. It requires 17 times more energy than steel to produce and it cannot be easily recycled. However, in June 2021, researchers at the University of Sydney created a method to recycle the carbon fiber that can make it as good as new. It is a two-phase procedure, pyrolysis followed by oxidation. During pyrolysis, carbon fiber is melted in the absence of oxygen and destroyed, however it leaves flame on the fiber which prevents a good bond in a resin medium. The second phase oxidation at a high temperature takes out this flame. This process results in a carbon fiber that is ready to reuse. 

Regional Outlooks

The global aircraft recycling  market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America).  The market can be analyzed for particular region or country level as per the requirement. The North America Region is expected tohold prominent market share of the global aircraft recycling market among other. Furthermore, Asia-Pacific region is expected to grow a fastest CAGR over the forecast period, owing to the rise in establishment of various favourable policies.

Global Aircraft Recycling Market Growth, by Region 2021-2027

The North America Region Holds the Prominent Share in the Global Aircraft Recycling  Market

The North America Region to hold the prominent share in the global aircraft recycling market due to presence of major market players in that region and rise in demand for Maintainance, Repair, Overhaul (MRO) for civilian in the US. For instance, in April 2020, Aircraft Solutions USA announced that it is progressing with its proposal to construct an aircraft recycling facility at Global Transpark in Kinston, North Carolina. The facility will contain one of the largest airfields, as well as dismantling, MRO, and painting procedures, according to the descriptions given by companies. Further, the company announced that it has planned to invest $100 million in the new aircraft facility.  

Market Players Outlook

The major companies serving the global aircraft recycling  market include AELS, Aircraft Recycling Corp., Aircraft Recycling International LTD., MTU Aero Engines AG, AVIATION INTERNATIONAL RECYCLING S.L., AviationPros.com, eCube Solutions ltd., Falcon Aircraft Recycling., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in November 2021, Mentis Aviation Group (MAG) agreed to collaborate with KP Aviation (KPA) to distribute the parts in China. The collaboration includes the acquisition of aircraft and engines for processing at MAG’s tear down and recycling plant in Heifei, China. Once the aircraft parts are recycled, the agreement further provide support to MAG in selling and distributing the parts to customers all over the world. 

The Report Covers

    • Market value data analysis of 2020 and forecast to 2027.

    • Annualized market revenues ($ million) for each market segment.

    • Country-wise analysis of major geographical regions.

   • Key companies operating in the global aircraft recycling  market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

   • Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

    • Analysis of market-entry and market expansion strategies.

    • Competitive strategies by identifying ‘who-stands-where’ in the market.