Overview of the global aircraft galley equipment market

According to Technavio’s market research analysis, the global aircraft galley equipment market will grow steadily at a CAGR of more than 3% during the forecast period. One of the primary growth drivers for the aircraft galley market is the surging demand for energy-efficient aircraft from APAC. The cost-efficient business model and no-frills service strategy adopted by the regional airlines have boosted the demand for new aircrafts in the region. The region is envisaged to receive numerous aircrafts in the coming years driven by the increased delivery of new narrow-body aircraft to meet the growing demands of low-cost airlines and will have a corresponding rise in the demand for galley equipment in the region.  Owing to the growing demand for new aircrafts in the region, many aerospace component manufacturing companies have started investing in the establishment of facilities and aftersales centers. Such developments will also encourage the galley equipment providers to offer cost-effective products to the aircraft manufacturers.

The growing preference for business travel has increased significantly, prompting aircraft manufacturers and business jet leasing companies to offer innovative and luxurious on-board experiences to the passengers. The high demand for luxury travel and the desire for comfort is leading to the growing instances of VIP cabin conversions. To meet the rising expectations and changing preferences of customers, various teams such as engineers, ground interior designers, completion specialists, and manufacturers are focusing on advanced technology and high premium cabin refurbishments. Completion centers and manufacturers are conducting cabin innovations, which in turn is expanding the refurbishment capabilities, propelling the growth prospects for the aircraft galley equipment market.

Competitive landscape and key vendors

The market is intensely competitive with the presence of a limited number of multinational vendors. Vendors are focusing to achieve cost-effectiveness in their product offerings by enhancing the capabilities of the existing facilities and extending their manufacturing bases to APAC. The leading vendors dominate the market in terms of in-house manufacturing capabilities, a global network, product offerings, investment in R&D, new technology, and a robust client base. To survive the intensely competitive environment in the market, vendors are providing cost-effective and high-quality commercial aircraft galley equipment with the use of latest technology and materials.

Leading vendors in the market are -

• Aerolux
• B/E Aerospace
• Diehl Stiftung
• Jamco
• Zodiac Aerospace

Other prominent vendors in the aircraft galley equipment market include Aeroaid, Airbase interior, Hannams, and Dynamo Aviation Factory.

Segmentation by application and analysis of the aircraft galley equipment market

• Wide-body
• Narrow-body
• Regional jets

The narrow-body aircrafts segment will continue to dominate the aircraft galley equipment market during the forecast period and is likely to occupy more than 64% of the total market share by 2020. The increasing focus on fuel efficiency and the higher demand for narrow-body aircraft will drive the market for aircraft galley equipment across the globe. It is anticipated that there will be a need for around 27,000 new narrow-body aircraft by 2034, and the market for narrow-body aircraft will be valued at around USD 3 trillion during that period.

Geographical segmentation and analysis of the aircraft galley equipment market

• Americas
• APAC
• EMEA

The Americas was the dominating region in the aircraft galley equipment market during 2015 and occupied around 37% of the total market share. Much of the region’s growth can be attributed to the growing order books of new aircraft across all segments. The strong economy in North American countries is strengthening domestic traffic, complemented by the demand for new routes connecting national and international destinations. This has encouraged the aircraft galley equipment suppliers to expand their production capabilities to address the growing order books in the region.

 Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global aircraft galley equipment market?
• What are the key market trends impacting the growth of the global aircraft galley equipment market?
• What are the challenges to market growth?
• Who are the key vendors in the global aircraft galley equipment market?
• What are the market opportunities and threats faced by the vendors in the global aircraft galley equipment market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global aircraft galley equipment market?

Technavio also offers customization on reports based on specific client requirement.

Related reports:

• Aircraft Modernization, Upgrade, and Retrofit Market 2015-2019
• Global Commercial Aircraft Cabin Interiors Market: Forecast Until 2019