According to the research report titled ‘Aircraft Recycling Market Size, By Aircraft (Narrow-body, Wide-body, Regional), By Product (Component [Engines, Landing Gear, Avionics], Material [Aluminum, Other Metals & Alloys]), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Landscape & Forecast, 2021 – 2027’, available with Market Study Report, global aircraft recycling market is likely to register substantial growth during 2021-2027.
 

Rising number of aging aircrafts, growing demand for used materials, and high concentration of leading companies are some of the key factors driving the growth of global aircraft recycling market. It is to be noted that airplane recycling involves harvesting parts and materials from old aircrafts.
 

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Once these aircraft parts are recouped and processed, they can be used to produce circuit boards, computers, and TVs. Thus, collective inclination among aerospace companies of becoming more financially sustainable and eco-friendly is also fueling the overall market size.
 

Based on product landscape, the industry is segmented into parts and material. The parts segment is further bifurcated into landing gear, avionics, engine, and others. The report states that global aircraft recycling market share from landing gears is predicted to expand at 8.5% CAGR through 2027.
 

Landing gears have a higher residual value since they are made up of specialized metal. This makes them of high importance for reusing on other aircrafts once they have been cleaned, repaired, and inspected, which in turn is favoring the overall market scenario.
 

Regionally, Middle East & Africa is likely to generate lucrative returns for the industry participants in the ensuing years. Growing number of ageing aircrafts, high concentration of market majors, and widespread adoption of used serviceable materials are facilitating the business scenario in Middle East & Africa.
 

The competitive landscape of global aircraft recycling market is defined by companies such as VAS Aero Services, Universal Asset Management Inc., Sycamore Aviation Ltd., KLM UK Engineering Ltd., ComAv Technical Services LLC, ARC Aerospace Industries LLC, ADI - Aircraft Demolition & Recycling Inc., Vallair Solutions, Total Technic, Tarmac Aerosave, Aviation International Recycling S.L., Apple Aviation, Air Salvage International, Aircraft Part Out Company, and Aircraft End-of-Life Solutions B.V. among others.