Pune, India -- (SBWIRE) -- 06/14/2018 -- Market Scenario
In aircraft, galleys are used as a compartment where food can be prepared and served to the passengers onboard. The Douglas Aircraft Company was the first aerospace company to include galley equipment in its aircraft DC-3 in the year 1921. In commercial aircraft, the galleys not only include food preparation and serving equipment but also contain jump seats (auxiliary seat) and emergency equipment.
Different design specifications demanded by airlines have always been a big challenge for the aircraft galley equipment market. The low-cost airlines prefer fewer and less complex galleys. The airlines targeting high-profile clients prefer providing best services to their customers. Thus, they are looking for better galley equipment that allows them to serve passengers fresh food and drinks. In either case, all the airlines are demanding galley manufacturers design galley with high functionality and durability while occupying a limited space of the cabin.
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The global aircraft galley equipment market is segmented based on aircraft type into narrow-body aircraft, wide-body aircraft, very large body aircraft, regional aircraft, and business jets. Wide-body aircraft is anticipated to remain the most dominant and fastest-growing segment of the global aircraft galley equipment market over the next few years. Increasing manufacturing rates of B787 and A350XWB aircraft programs are driving the demand for galley equipment in the segment. Narrow-body aircraft is likely to generate strong demand for galley equipment over the next decade.
The major drivers for market growth are rising demand for aircraft, increase in demand for lightweight galley equipment, and demand for galley customization as per customer preference. Increasing demand for ease and comfort in various aircraft has raised the demand for state-of-the-art galley equipment. Although it has enormous applications, the growth of aircraft galley equipment market faces a few hurdles. Growing acceptance of low-cost carriers for various commercial and personal purposes has restricted the market growth. Moreover, companies in this market face a continuous challenge of reducing weight and size of galley equipment.
Leading players in this market seek to offer galley equipment particularly designed and developed to meet specific requirements. Moreover, companies focus on providing wide-ranging galley set-up with complete functional and storage capacities. The retro fit segment commands the overall market and is anticipated to exhibit a similar trend over the forecast period. The Asia Pacific region has been experiencing strong growth in the aviation industry over the past few years. This is primarily nurtured by growing demand for new aircraft deliveries in the region, which, in turn, is expected to boost the market growth. Asia Pacific is anticipated to witness the highest growth over the forecast period.
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Based on the insert type, the global aircraft galley equipment market is segmented into electrical inserts and non-electrical inserts. Electrical inserts are further bifurcated as beverage maker, chiller, coffee maker, water boiler, food warmer, and other inserts. Similarly, non-electrical inserts are further bifurcated as serving pots, galley trolley, rack/tray, and other inserts. The electrical inserts segment is estimated to remain the most dominant in the market over the next few years. This is driven by the rising demand for water boilers, beverage makers, and chillers. The non-electrical inserts segment is also estimated to witness a strong growth rate over the next few years.
Based on the region, North America is projected to maintain its leadership in the market during the forecast period. The region is the manufacturing capital of the aerospace industry with the presence of major aerospace OEMs, airlines, distributors, and raw material suppliers. The U.S. is projected to remain the major contributor to the growth of the regional market over the next few years.
The aircraft galley equipment market is estimated to witness a CAGR of more than 4% during the forecast period from 2018 to 2023.
The key players in the aircraft galley equipment market are Rockwell Collins Inc. (U.S.), Zodiac Aerospace (France), JAMCO Corporation (Japan), Diehl Stiftung & Co. KG (Germany), AIM Altitude (U.K), Bucher Group (Switzerland), Aerolux (U.S.), Turkish Cabin Interior (Turkey), DYNAMO Aviation (U.S.), Huaxin Aviation Spare Manufacture Co. Ltd. (China), and Korita Aviation (Netherlands).
The report for Global Aircraft Galley Equipment Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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