Selbyville, Delaware, April 28, 2021 (GLOBE NEWSWIRE) —
According to latest report “Aircraft Recycling Market by Aircraft (Narrow-body, Wide-body, Regional), Product (Component, Material), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of aircraft recycling will cross $7 billion by 2027. A growing number of retired aircraft fleets globally will drive the market growth.
A growing number of retired aircraft fleets and the increasing demand for recycled aircraft parts are propelling the market expansion during the forecast timeframe. Major airlines are under pressure to maintain their profits and keep operational costs low. These factors are having a positive impact on the market, thereby driving the demand for recycled aircraft parts. Moreover, supportive government policies are further augmenting the industry growth.
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Regional aircraft recycling market will witness over 9% growth rate through 2027. A growing number of regional aircraft due to better infrastructure facilities in many emerging countries is boosting the market for aircraft recycling. Various airlines are focusing on increasing their regional aircraft fleet led by increased air travel, which will further fuel the market value during the forecast timeline.
The other material segment is estimated to attain a CAGR of 13% by 2027 owing to growing technological advancements and cost reduction in the recycling of composites. Recycled composite is priced lower compared to its market prices, further increasing the demand for recycled aircraft composites during the forecast timeframe.
Asia Pacific aircraft recycling market will observe exponential growth till 2027 on account of rising demand for used serviceable materials (USM); proliferating aircraft MRO industry coupled with increasing number of ageing aircrafts in the region. Aircraft Recycling International opened a recycling facility in recycling Heilongjiang, China with an annual effective handling capacity of 20 aircraft. Mesco Aerospace India has an upcoming project on aircraft recycling. These trends will prosper the regional market in the coming years.
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Key industry players involved in the market are Air Salvage International, Vallair, Aviation International Recycling, Aircraft End-of-Life Solutions, ComAv Technical Services, Aircraft Part Out Company, Tarmac Aerosave, ADI- Aircraft Demolition & Recycling, Apple Aviation, Universal Asset Management Inc. KLM UK Engineering, Total Technic, VAS Aero Services, Sycamore Aviation and ARC Aerospace Industries.
Table of Contents (ToC) of the report:
Chapter 3 Aircraft Recycling Market Insights
3.1 Industry segmentation
3.2 Industry ecosystem analysis
3.2.1 Distribution channel analysis
3.2.2 Value chain disruptions due to COVID-19
3.2.3 Vendor matrix
3.3 Overview of aircraft decommissioning
3.4 Cost structure analysis
3.5 Regulatory landscape
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.2 Industry pitfalls & challenges
3.7 Patent analysis
3.8 Future trends
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 Competitive landscape, 2020
3.12 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.