Aircraft Recycling Market Size

Aircraft Recycling Market Size

Aircraft Recycling Market size was valued at over USD 4.07 billion in 2020 and is expected to grow at a CAGR of 8.5% from 2021 to 2027. An increase in dismantling and recycling activities in the commercial aircraft industry will create several growth opportunities for the industry.

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Aircraft recycling is the process of harvesting materials and parts from end-of-life aircrafts. The process includes scrapping and disassembling the aircraft and re-purpose the components as scrap or spare parts. The first step of aircraft recycling mainly involves dismantling aircraft components, followed by the sorting out of all the materials like aluminum, copper, alloy, etc. from the aircraft. The sorted components and materials are then treated and cleaned to avoid rusting and damage to the critical components of the aircraft.

The growing number of retired and worn-out aircraft is driving the market for aircraft recycling worldwide. According to the Aircraft Fleet Recycling Association, more than 12,000 aircraft can be recycled in the coming years. Reclaiming retired aircraft parts by environmental-friendly techniques and maintaining the value of the recycled materials have become a significant need. Recycled aircraft parts and their applications in different aircraft will further reduce the consumption of natural resources, conserve energy, and aid in landfill allocations. When recycled aircraft components are compared with virgin materials, such as aluminum, steel, copper, titanium, etc., the cost of recycled materials is significantly lower. Moreover, recycling aircraft also reduces soil, air & water contamination and helps in meeting energy demand. Recycling aircraft further provides other benefits such as reducing landfill requirements and consumption of various natural resources.

Rising awareness for aircraft recycling among airliners is fueling the aircraft recycling market growth. The rapidly growing aviation sector in India, China, and Japan is compelling the aviation sector to adopt recycled aircraft parts, which are not only economical but also minimize the environmental impact. Maintenance, Repair, and Overhaul (MRO) providers are investing significantly in recycling aircraft to meet the growing need for aircraft parts.

However, difficulty in the recycling of advanced materials used in the manufacturing of new-age aircrafts such as carbon fiber might hinder the market expansion in the coming years. These materials ends-up in the landfill owing to the lack of large-scale recycling solutions.