Aircraft Recycling Market size was valued at USD 4.55 billion in 2023 and is likely to reach USD 13.62 billion by 2036, expanding at around 8.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of aircraft recycling is estimated at USD 4.87 billion. 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.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024–2036 |
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CAGR |
8.8% |
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Base Year Market Size (2023) |
USD 4.55 billion |
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Forecast Year Market Size (2036) |
USD 13.62 billion |
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Regional Scope |
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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.
Our in-depth analysis of the global aircraft recycling market includes the following segments:
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By Aircraft |
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By Product |
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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 industry is estimated to account for largest revenue share by 2036, 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 aircraft recycling 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.
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.
Author Credits: Dhruv Bhatia
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