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Aircraft galley equipment refers to equipment used inside an aircraft cabin for food storage, preparation and meal service. Galley equipment includes refrigerators & freezers, water boilers, coffee and beverage makers, ovens and microwave ovens. Aircraft galley equipment ensures effective space utilization and enables cabin crews to efficiently serve passengers during flights.
The global Aircraft Galley Equipment Market is estimated to be valued at US$ 2.56 Bn or Billion 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:
Rise in air passenger traffic is a key trend witnessed in the aircraft galley equipment market. Factors such as globalization, increasing business activities and rising disposable income have contributed to increase in air travel. According to IATA, number of air passengers is expected to double from 2017 levels to reach 7.8 billion in 2036. This rise in air passenger traffic is compelling airline operators to expand their fleet size and retrofit existing aircrafts with advanced galley equipment, thus driving market growth during the forecast period.
SWOT Analysis
Strengths: Aircraft galley equipment such as trolleys, galley inserts and galley carts help in efficient food management and storage. They can withstand high vibration and impact loads owing to their sturdy design.
Weaknesses: Higher costs involved with frequent replacement or repair owing to high traffic load and wear & tear. Strict regulatory norms delay product development cycles.
Opportunities: Growing aircraft fleet and passenger traffic provide opportunities to manufacture and supply innovative galley equipment. Adoption of advanced lightweight materials can further reduce maintenance costs.
Threats: Economic slowdowns lower new aircraft orders and retrofit opportunities. Changing customer preferences and airline consolidation increases pricing pressure.
Key players operating in the Aircraft Galley Equipment are Aerolux Ltd., AVIC Cabin Systems, Boeing, Bucher Group, Diehl Stiftung & Co. KG, Dynamo Aviation, GAL Aerospace Group, JAMCO Corporation, RTX and Safran. Companies are focusing on improving product reliability, optimizing aircraft cabin space and reducing weight to lower fuel costs. They are also exploring integration of IoT technologies to remotely monitor equipment condition.
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 deliveries. North America dominated the aircraft galley equipment market in 2022 due to presence of major aircraft manufacturers in the region.
The global aircraft galley equipment market size was valued at US$ 2.56 billion in 2023. Growing international travel and tourism is driving demand for new aircraft deliveries from airlines. This is anticipated to propel the need for advanced galley equipment such as trolleys, galley carts and refrigeration systems for efficient in-flight catering services.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
