The global commercial aircraft disassembly, dismantling and recycling market size was gauged at USD 5.95 billion in 2021. The market is projected to grow from USD 6.74 billion in 2022 to USD 14.35 million by 2032, exhibiting a CAGR of 7.85% during the 2022-2032 period. The aviation industry is becoming greener and more cost-effective which has increased the popularity of recycled aircraft parts from end-of-life aircraft. Surging demand for certain types of older engines or parts by engine maintenance, repair and operation service providers generates opportunities for Used Serviceable Material (USM) suppliers which is driving market growth. This information is provided by Fortune Business Insights, in its report titled, “Commercial Aircraft Disassembly, Dismantling and Recycling Market, 2022-2032.”
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Segments:
USM Segment to Lead Backed by Increasing Focus of Airlines on Decreasing Operational Costs
As per application, the market is divided into disassembly & dismantling, recycling & storage, USM and rotable parts. Among these, the USM segment captured a significant share in 2022 owing to the rising number of aged aircraft and early aircraft retirements due to COVID-19. The rising focus of leading airlines on reusing used serviceable materials in their maintenance activities to reduce operational costs will lead to surplus supply of USM, which will contribute to segmental growth.
Narrow Body Segment to Dominate Due to Early Retirement of Single Aisle Aircraft
By aircraft type, the market is split into narrow body, wide body, and regional jets. Among these, the narrow body segment captured majority of the commercial aircraft disassembly, dismantling and recycling market share owing to increasing early retirements of single aisle aircraft by leading airlines across the world.
Geographically, the market is segregated into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The report provides in-depth insights into drivers and challenges influencing market dynamics in the upcoming years. The market is studied at both micro and macro levels by splitting it into segments and regions. Statistical data for all segments and regions is recorded as well. Strategic developments undertaken by leading companies to increase profits and boost sales are also given to enable informed decision making.
Drivers and Restraints:
Technological Developments in Remanufacturing Process to Propel Market Expansion
Remanufacturing is the process of redeveloping a used product as per the performance specifications stated by OEMs and providing a final product with a warranty, which is at least equivalent to a newly manufactured component. It is a sustainable and cost-effective method of producing parts/components. The process includes inspection, comparison, reprocessing and testing. Technological developments in additive manufacturing have made the remanufacturing process energy-efficient and economical. Thus, adoption of additive manufacturing practices and advancements in remanufacturing process will boost the global market expansion.
On the other hand, the exposure to and disposal of hazardous materials used in aircraft such as asbestos, bromo-tri-fluoro-methane, and other radioactive elements will pose as challenges for businesses operating in this domain.
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Regional Insights:
North America to Dominate Due to Availability of Advanced Infrastructure
North America held majority of the global market share in 2021 and was gauged at USD 2.27 billion in 2021 owing to well-developed USM market and growing number of retiring aircraft fleets in the region. The region also has advanced infrastructure for commercial aircraft disassembly, dismantling and recycling services, which will facilitate market growth in this region. Early retirement of mid-generation traditional aircraft will propel the market further.
Europe held the second largest market share in 2021 due to presence of several aircraft lessors in the region. The presence of leading players such as Aircraft End of Life Solutions, Air Salvage International, and others will contribute to market growth in this region.
The Asia Pacific market is projected to grow significantly in the upcoming years backed by the expansion of airline industry in India and China. The aftermarket industry in China and India is also growing substantially which will elevate market progression as well. Additionally, India is the largest importer of aircraft scrap, which will generate demand for these services and lead to market expansion.
Competitive Landscape:
Partnerships Between Leading Companies and Renowned Airlines to Elevate Market Proliferation
Industry leaders of commercial aircraft disassembly, dismantling and recycling are making strategic decisions such as partnerships, collaborations, and mergers & acquisitions with Maintenance Repair and Overhaul (MRO) to boost revenue generation. For instance, in November 2021, Emirates signed a contract with Falcon Aircraft Recycling, a UAE-based company for the upcycling and recycling its first retired A380 aircraft to decrease landfill waste and the environmental impact of deconstruction.
Key Industry Development:
October 2022: Tarmac Aerosave announced that it began dismantling its Airbus A380 at the Teruel, Spain site. The aircraft is the seventh to be scrapped by the company, with six having been scrapped in Tarbes, France.
List of Key Players Mentioned in the Report:
- Aircraft End-of-Life Solutions (AELS) BV (Netherlands)
- Air Salvage International Ltd (Gloucestershire)
- Aerocycle (Canada)
- CAVU Aerospace (Germany)
- China Aircraft Leasing Group (China)
- Ecube (U.K.)
- Eirtrade Aviation (U.K.)
- GA Telesis LLC (U.S.)
- TRAMAC Aerosave (France)
- Vallair (U.K.)
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