Booming aircraft recycling market reaches new heights

The global aircraft recycling market will witness ‘substantial’ growth in the near future, according to Research & Markets.

Aircraft recyclers will be part of a US$ 6.3 billion (EUR 5.8 billion) industry by the end of this decade. The analysts predict annual compound growth to top 8% until 2030. They cite ‘promising’ prospects across the narrow-body and wide-body aircraft segment.

Narrow-body aircraft are expected to remain the dominant segment due to increasing adoption by airlines carrying more passengers at a lower cost.

Major growth drivers for aircraft recyclers are:

• the increasing number of retired aircraft
• the development of new recycling methods
• growing environmental concerns

Of all the parts, engines are expected to witness the highest growth. Other valuable parts that will see a lot of interest include landing gear and avionics.

North America will remain the largest regional market for aircraft recycling. This is mainly attributed to increasing legislation for aircraft disassembly and scrapping.