Aircraft recycling has proven to be a lucrative niche market. In the coming years, this sector will witness steady growth indeed, according to a new in-depth analysis published by Technavio. It predicts that the global aircraft dismantling market will increase by almost 7% during the period 2018-2022.
Technavio’s new market research report segments the global aircraft dismantling market by geographical regions, including the Americas as well as the Asia Pacific region the and Europe, the Middle East and Africa (EMEA).
Market analysts observe that the EMEA region led the aircraft dismantling market in 2017 with a market share of nearly 45% of the market share. However, the market share occupied by this region is anticipated to decrease by approximately 3% during between now and 2022.
A refurbishing high
The aircraft refurbishing market is projected to surge roughly 6% by 2021, says a refurbishing-oriented report released earlier by Technavio.
‘The utilisation of lightweight seats will reduce the weight of aircraft interior equipment by 10% since it substitutes all the traditional foam padding with an elastic polyester netting material,’ market analysts point out. It is added that the use of composites in Airbus A350 and Boeing 787 aircraft has reduced aircraft weight by 20%
Additionally, it is observed that India, China, Indonesia, the US, and Russia are the major countries where the demand for air travel is witnessing a significant increase. This is likely to affect both the number of aircraft commissioned around the globe every year and the average end-of-life age of aircraft.