The global commercial aircraft disassembly, dismantling, and recycling market is anticipated to grow during the projected period due to the rising technological advancements in the carbon fiber recycling process. Fortune Business Insights™ publishes this information in a report titled, “Commercial Aircraft Disassembly, Dismantling, and Recycling Market, 2022-2029”. As per the report, the commercial aircraft disassembly, dismantling, and recycling market size was USD 4.57 billion in 2019 and is projected to reach USD 5.40 billion by 2027 at a CAGR of 7.36% during the 2020-2027 period.
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The report covers insightful data regarding the market growth opportunities and recent trends in the industry. The drivers and restraints affecting the market growth during the projected period are discussed further, along with some business growth strategies adopted to create lucrative opportunities. Regional insights on segmented market areas and a list of key players are provided further in this report. Also, the impact of COVID-19 pandemic on market development is mentioned in the report.
List of Key Players Mentioned in the Market Report For Commercial Aircraft Disassembly, Dismantling, and Recycling:
- Aircraft End-of-Life Solutions(AELS) (Netherlands)
- GA Telesis LLC (U.S.)
- AerSale Inc (U.S.)
- Tarmac Aerosave(France)
- Bombardier Inc. (Canada)
- AJW Group (U.K.)
- The Carlyle Group (U.S.)
- China Aircraft Leasing Group Holdings Limited (China)
- AAR (U.S.)
- Magellan Aircraft Services Corp. (U.S.)
- Ascent Aviation Services (U.S.)
- Air Salvage International Ltd (U.K)
Component Management Segment To Lead Market Due To Rising Demand
By application, the market is categorized into recycling, component management, disassembly and dismantling aircraft, storage engine, and teardown. The component management segment is predicted to dominate the global market due to the high demand from MRO and the aftermarket industry.
Rising Air Traffic To Bolster Narrow Body Aircraft Segmental Growth
Based on type, the market is segregated into narrow-body aircraft, wide-body aircraft, and regional aircraft. The narrow-body aircraft segment is anticipated to lead the market in the coming years owing to the increasing air traffic.
Geographically, the market share is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Drivers and Restraints:
Import Restrictions on Ageing Aircrafts To Augment Growth
The market is expected to emerge prominently in the coming years due to the rising technological advancements in the industry. Also, the increasing demand for used serviceable materials from active aircraft is expected to drive the market during the forecast period. Furthermore, strict import restrictions on aging aircraft are projected to bolster market growth.
However, material traceability and sorting concerns may hinder the global market growth in the coming years.
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North America Dominates Global Market Due To The Industrial Development
North America holds a dominant commercial aircraft disassembly, dismantling, and recycling market share due to the presence of leading market players and the developing aerospace industry in the region expected to fuel the regional growth. The region stood at USD 1.97 billion in 2019.
Europe is anticipated to grow at a substantial CAGR during the forecast period due to the rising awareness of technological advancements in recycling processes and leasing facilities.
Acquiring New Engines Allow Companies To Propel Growth
The key market players consider implementing several business growth strategies to propel growth in the coming years. These strategies include forming alliances and partnerships with the supporting organizations and expanding their business reach. Also, the leading companies emphasize adopting recent technologies to launch new products and acquire recognition from the government.
Key Industry Developments:
- August 2020: The Boeing Company received the 2020 Sustainability Leadership Award from the National Association of Manufacturers. This award indicates the company has put innovative efforts into recycling aircraft carbon fiber and developing waste management systems.
- March 2020: AJW Group purchased a CFM56-5B4 engine for teardown to support the expansion of the engine management programs. This contract will strengthen its engine teardown segment in the upcoming years. The company is a key player in the aircraft disassembly and recycling process.
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