Aircraft Recycling Market Size

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.