The aircraft galley equipment market has witnessed substantial growth in recent years owing to advancements in lightweight materials. Aircraft galley equipment refers to kitchen accessories and appliances installed in aircraft to store and prepare food and beverages. Key products in this market include trolleys, braille trays, freezers, coffee makers and ovens. Aircraft galley equipment helps deliver healthy and appetizing meals to passengers during flights while complying with stringent standards for aircraft operations and safety. The demand for lightweight and compact galley equipment has been driven by the need for fuel efficiency in airlines.
The Global Aircraft Galley Equipment Market is estimated to be valued at US$ 2.56 Bn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030.
Key Takeaways
Key players – 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.
Key opportunities – Growth opportunities for players include increasing aircraft delivery volumes, development of lightweight and fuel-efficient equipment, and cabin modernization programs in major airlines.
Technological advancements – The market is witnessing increased adoption of lightweight materials like carbon fiber composites for manufacturing galley inserts, trolleys and ovens. Development of advanced coffee makers, refrigeration systems and connected solutions is also shaping the market dynamics.
Market drivers – Rising passenger air traffic globally due to affordable air travel and expanding middle-class population is a key factor driving airline fleet modernization and procurement of new aircraft galley equipment. Stringent safety regulations mandate regular replacement of older galley accessories further supporting market growth.
Current Challenges in Aircraft Galley Equipment Market
The aircraft galley equipment market has seen slight decline during the COVID-19 pandemic due to travel restrictions and lockdowns imposed globally. This led to grounding of aircraft and deferment of new aircraft deliveries. As travel restrictions lift and passenger traffic increases, challenges remain in terms of high equipment and maintenance costs, meeting stringent certification standards, developing lightweight and compact equipment as well as technological issues such as connectivity issues. Equipment suppliers will have to focus on innovations to overcome these challenges and drive future growth.
SWOT Analysis
Strength: Equipment suppliers have strong R&D capabilities and innovative product portfolio. They focus on lightweight, compact and efficient solutions.
Weakness: High costs associated with equipment development, certification and maintenance. Suppliers have to rely on aircraft manufacturers for approvals.
Opportunity: Growth in aircraft fleet size and demand for comfortable passenger experience provides opportunities. Demand for connected aircraft solutions also presents an opportunity.
Threats: Intense competition; Economic uncertainties affecting aircraft demand; Stringent aircraft certification standards add compliance challenges.
Geographical Regions
North America accounts for the largest share currently due to presence of major aircraft manufacturers in the US. However, the Asia Pacific region is expected to grow at the fastest pace due to increasing aircraft deliveries and rising demand for air travel from countries like China and India. countries are ramping up domestic and international air connectivity
Fastest Growing Geographical Region
The Asia Pacific region is projected to be the fastest growing market for aircraft galley equipment during the forecast period. This is attributed to factors such as growing demand for air travel from China and India, increasing aircraft fleet sizes of domestic carriers in the region and planned airport infrastructure development projects. Major manufacturers are also setting up local manufacturing facilities to cater to the regional demand, which is encouraging market growth. Countries in the region offer huge untapped growth potential driven by expanding middle-class population and rising number of low-cost carriers.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
