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The aircraft galley equipment market includes products such as Aircraft Galley Inserts, Aircraft Trolleys & Containers, Aircraft Coffee & Beverage Maker, Aircraft Food Warmer, Aircraft Food Processors & Cooking Equipment, and Aircraft Storage & Waste Bins used in aircrafts to serve food and beverages to passengers. Aircraft galley inserts include products such as aircraft trolleys, containers, coffee makers. Aircraft galleys play a major role for cabin crew to provide food & beverages to passengers comfortably. Aircraft galley equipment ensures smooth food service operations, passenger satisfaction, and maximizes cabin space for food storage and waste management.
The global Aircraft Galley Equipment Market is estimated to be valued at US$ 2.56 Bn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the aircraft galley equipment market is the increasing adoption of lightweight and compact galley equipment. The demand for lightweight galley equipment is growing owing to efforts of aircraft manufacturers, suppliers and airlines to reduce aircraft weight. Weight reduction helps improve aircraft performance, fuel efficiency and reduce operating costs. Advanced lightweight materials such as carbon fiber composites, aluminum lithium alloys are increasingly adopted for production of galley inserts, trolleys and containers. Another key trend is the innovative product developments led by advancements in digital technologies. Smart galley concepts integrated with IoT and smart technologies enable efficient food & beverage management and tracking onboard.
Porter’s Analysis
Threat of new entrants: New entrants face high initial capital investment requirement and established brands loyalty among customers.
Bargaining power of buyers: Buyers have limited bargaining power due to differentiated products provided by established players and switching cost.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitute raw materials and parts.
Threat of new substitutes: Threat of substitutes is low as aircraft galley equipment has limited substitutes and customers prefer integrated solutions.
Competitive rivalry: High due to presence of global established players focusing on innovation and customer experience.
Key players operating in the Aircraft Galley Equipment Market are Aerolux Ltd., AVIC Cabin Systems, Boeing, Bucher Group, Diehl Stiftung & Co. KG, Dynamo Aviation, GAL Aerospace Group, JAMCO Corporation, RTX and Safran. Key players are focusing on development of lightweight and multifunctional galley equipment.
Regional analysis: North America dominates the aircraft galley equipment market currently due to large fleet size and increasing demand for next generation aircraft. Asia Pacific is expected to witness fastest growth owing to rising air traffic and focus of OEMs in developing economies of the region.
Key Takeaways
The global Aircraft Galley Equipment Market is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period, due to increasing aircraft orders and passenger traffic. The market size for 2023 is estimated to reach US$ 2.56 Bn.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
Ravina Pandya,a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
