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The global commercial aircraft disassembly, dismantling, and recycling market size is projected to reach USD 5.40 billion by 2027. The increasing technological advancements in the automotive industry are resulting in the usage of carbon fibers for manufacturing automotive components. This information is given by Fortune Business Insights™ in a new study, titled, “Commercial Aircraft Disassembly, Dismantling, and Recycling Market Size, Share & COVID-19 Impact Analysis, By Type (Recycling, Component Management, Disassembly, and Dismantling Aircraft, Storage Engine, and Teardown), By Application (Narrow Body Aircraft, Wide Body Aircraft, and Regional Aircraft), and Regional Forecast, 2020-2027.” The study further mentions that the market stood at USD 4.57 billion in 2019. But, it is set to exhibit a CAGR of 7.36% during the forecast period between 2020 to 2027.
AJW Group Purchases CFM56-5B4 Engine for Teardown
In March 2020, AJW Group, a specialist in the lease, repair, exchange, and supply of airframe and engine spare parts headquartered in Sussex purchased CFM56-5B4 engine for teardown. This would support its engine management programs. The new engine parts will now be kept at the companies headquarter and from there, they will be sent to its international hubs for sale and exchange. The company’s engine services provide support and expertise across Shop Visit Management, Technical Documentation Management, Engine Parts Support, Engine Sale and Lease, Material Recovery Programs, and Fan Blade Exchange Programs. The engines would be sold to those customers with portfolios of A320 family aircraft.
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Increasing Restrictions on Import of Aging Aircraft to Bolster Growth
Aircraft aging includes three major aspects, namely, safety, maintenance, and fatigue of the aircraft. The rate at which an individual aircraft ages is highly dependent on several factors, such as replacement of components and aircraft fleet. The Indonesian Ministry of Transportation (MOT) declared a complete ban in 2016 on the import of commercial passenger aircraft that are ten years old and above. Such restrictions would augment the commercial aircraft disassembly, dismantling, and recycling market growth as more traditional aircraft would be used for recycling.
Development of Advanced Software & Hardware Solutions — Key Strategy of OEMs
The market for commercial aircraft disassembly, dismantling, and recycling consists of multiple large, medium, and small-scale companies operating worldwide. Most of them are either purchasing new engine parts or are engaging in the merger and acquisition strategy with other start-ups. Several original equipment manufacturers (OEMs) are also trying to develop advanced hardware and software solutions to deliver efficient processes.
Fortune Business Insights™ lists out the names of all the reputed commercial aircraft disassembly, dismantling, and recycling service providers present in the market. They are as follows:
A Notable Industry Development-
Further Report Findings-
The market for commercial aircraft disassembly, dismantling, and recycling can be segmented in the following way:
Value (USD Billion)