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The commercial aircraft cabin trash compactors market size is estimated to grow at a CAGR of 5.62% between 2023 and 2028. The market size is forecast to increase by USD 33.19 million. The growth of the market depends on several factors such as the growing demand for new commercial aircraft, the increasing air connectivity on regional routes, and the increasing need to recycle cabin waste.
The report includes a comprehensive outlook on the Commercial Aircraft Cabin Trash Compactors Market, offering forecasts for the industry segmented by Type, which comprises bio-degradable waste and non-biodegradable waste. Additionally, it categorizes Application into narrow body aircraft, wide body aircraft, and regional aircraft, and covers Geography regions, including APAC, North America, Europe, South America, and Middle East and Africa. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.
Commercial Aircraft Cabin Trash Compactors Market Forecast 2024-2028
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Integration of various national economies as a result of globalization, the growing frequency of air travel as a result of the growing middle-class population across the world owing to consistent economic development, and rapidly improving civil aviation infrastructure are driving the demand for commercial jets. As a result, global civil aviation traffic has increased along with a high average occupancy rate per aircraft, which, in turn, has increased the need for new commercial aircraft.
Moreover, civil passenger traffic is expected to double in the next 15 years across the globe, and APAC is expected to account for the majority of the incremental growth. Thus, the growing demand for new commercial aircraft is expected to drive the growth of global commercial aircraft cabin trash compactors market during the forecast period.
Aircraft component manufacturers are acquiring peer companies to grow significantly. This is expected to increase the concentration ratio of the market and increase the bargaining power of manufacturers. For instance, in April 2020, Raytheon Technologies Corporation and United Technologies Corporation announced that their all-stock merger of equals deal had been completed successfully.
Furthermore, several other M&As are expected to take place in the next five years. In December 2021, for example, Safran SA entered into exclusive discussions to acquire Orolia, a global leader in resilient positioning, navigation, and timing. Such developments are likely to propel the growth of the global commercial aircraft cabin trash compactors market during the forecast period.
Various countries have differing national catering waste guidelines. These guidelines, formed to control the handling of catering waste, restrict the recycling of catering waste from international flights. As per these regulations, the disposal of food and beverages from foreign countries is associated with the risk of spreading infection and contamination and may negatively impact the agriculture and livestock industry. Thus, these regulations compel airlines to incinerate their cabin waste.
For example, countries such as Australia, Canada, and New Zealand, which have a very advanced agricultural sector, witness strict controls on the disposal, reuse, and recycling of cabin waste. Several governments across the world have adopted the International Catering Waste (ICW) legislation, which restricts several airlines from cabin waste recycling, thereby limiting the growth of the market during the forecast period.
The bio-degradable waste segment will account for a major share of the market's growth during the forecast period.? Bio-degradable waste in the market includes of catering waste like inflight meals, snacks, and beverages served to passengers and can consist of leftover food, drinks, newspapers, paper towels, and food dropped on the floor, among others. The bio-degradable waste segment is expected to grow due to an increase in air passenger traffic globally, a rising trend of airline meal ordering, and growing expectations among air passengers. Factors such as people's growing disposable income and their increasing preference for air travel have significantly increased the total passenger density at airports.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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