Fortune Business Insights research says that the global market size was USD 5.95 billion in 2021 and is projected to reach USD 14.35 million by 2032. And that, the market will exhibit a CAGR of 7.85% during the forecast period 2022 – 2032.
In aviation too, a gigantic bird can end up as scrap! However, for an aircraft’s ‘end-of-life’ stage, comes an afterlife, post a teardown or and/or disassembly thereof. There is a thriving aftermarket parts market out there, where the useable parts retrieved from an aircraft are recycled or disposed of. The end-of-life status of an aircraft then has commercial value and businesses have flourished on account of this teardown process and demand for same.