Research Nester published a report titled “Aircraft Recycling Market: GlobalDemand Analysis & Opportunity Outlook 2031” which delivers a detailed overview of the global aircraft recycling market in terms of market segmentation by aircraft, product, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.
The global aircraft recycling market is projected to attain notable revenue by growing at a CAGR of ~8% during the forecast period. The growth of the market is ascribed to factors, such as, convenient recycling of aircraft, raising awareness of green aviation, growing manufacturing of commercial aircraft, and high utilization of expensive materials. Aircraft recycling is the process of identifying reusable parts of end-to-use aircraft and dismantling them via a particular procedure. A report by Aircraft Fleet Recycling Association (AFRA), in 2020, in the upcoming 20 years, there will be about 12,000 aircraft to be recycled.
Moreover, the global aircraft recycling market is bifurcated by product into component and material. Out of these sub-segments, the material segment is estimated to hold a notable share in the market during the forecast period. The growth of the segment is accounted to the heavy utilization of aluminum in the manufacturing of aircraft owing to its significant lightweight properties. Modern aircraft are very light compared to old models on account utilization of particular materials and aluminum is one of them.
Furthermore, the global aircraft recycling market is segmented into five regions that are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these regions, the market is anticipated to grow at a noteworthy pace during the forecast period in the North America region. The growth of the market in the region is attributed to the presence of key manufacturers of aircraft and their components and increasing requirements for MRO of aircraft. Furthermore, in 2018, the aircraft manufacturing industry amounted to about USD 150 billion solely in the USA.
The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.
Utilization of Costly Materials in Aircraft Manufacturing to Propel the Growth of the Market
It was observed that aircraft consists of almost 20% of aluminum and around 50% of other types of composites.
The body and internal parts of aircraft are manufactured by utilizing expensive materials such as, aluminum, steel, titanium, and other significant composites. In modern times, the manufacturers of aircraft are trying to manufacture 100% recyclable aircraft that require the utilization of these particular materials. Therefore, such demand is estimated to boost the growth of the market over the forecast period.
However, the need for high initial investment and the lack of required technology and knowledge are expected to operate as key restraints to the growth of the global aircraft recycling market over the forecast period. This report also provides the existing competitive scenario of some of the key players in the global aircraft recycling market which includes company profiling of AerSale Inc, CAVU Aerospace Inc., BAE Systems plc, Bombardier Inc., Lockheed Martin Corporation, Air Salvage International Limited. HVF West LLC. Adherent Technologies, Inc., European Aviation Group. and Airbus S.A.S. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global aircraft recycling market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.