Aircraft Recycling Market Share

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.