In the true archaeological definition probably not. But I voted yes because atifacts have been found, locations mapped and photographed, and artifacts have been preserved. Many of those artifacts now reside in museum collections on display to the public. Their history of use and function has been recorded, their historical provenance has been recorded.
I wouldn't think that a fairly recent ( in historical terms )wreck site, would be treated the same as an ancient Roman site buried in a farmers field in England. At the Roman site the primary goal would be to try to use the artifacts and their locations to establish an idea of how the ancient people of the time lived. What kind of civilization existed.
I was contacted by a German guy who worked for IBM. He had a coworker whose American relative lost a brother as part of a B-24 crew.
Enrico ( he really was German) started researching what was known and located the crash site. The majority of the aircraft was removed during the war. After careful excavation a fair amout of aircraft remained. Everything was documented as it was removed. The remains of 6 of her crew was still there. The U.S. military was notified and the remains were identified and ultimately returned to their respective families. Reports were put together the artifacts were carefully identified, cleaned, and I believe are now on display at a local museum.
I don't know but it sounds like a form of archaeology to me?
ARCHAEOLGY def.
the scientific study of ancient cultures through the examination of their material remains, for example, buildings, graves, tools, and other artifacts usually dug up from the ground.