Pune, India -- (SBWIRE) -- 12/18/2017 -- Market Highlights:

The global aviation market is growing at a slow pace around the world. Airbus alone generated a backlog of 6,787 aircraft, which represents almost ten years' worth of production. Even Boeing, which has fallen behind Airbus in recent times in terms of orders received, has accumulated a backlog of more than 4000 planes, of which 75% of the planes are the upcoming 737 MAX airplanes. This factor will limit the growth of the aircraft catering services market, as a number of new airplanes coming into the market each year will be of a limited amount, and the rate of growth of units sold will be almost constant up until 2020. Low-cost carriers, which presently control 1/4th of the total airline market are expected to grow rapidly at the expense of full-service carriers and are expected to hold close to 14% market share of in-flight catering services by 2020.

A major income of the aircraft catering services comes from full-service carriers. Their slowing growth rates in comparison to the low-cost carriers would limit the growth in the aircraft catering services market.

Commercial aviation is a highly competitive business and carriers have to stay ahead of the game in order to retain market share. The expectations of passengers flying in full fare airlines are rising and carriers will continue to invest higher amounts of capital in this sector.

Many global food brands and food chains may enter in this highly lucrative business and propel the market forward. Advent of online and mobile ordering systems is expected to boost this sector. Currently, the major problem in narrow aisle aircraft is the severe lack of space, and owing to this reason, limited number of standardized items can be served. However, in jumbo jets like A380 and 747, where space is not a major constraint, more number of variations can be tried out.

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Major Key Players

SATS
Servair
Emirates Flight Catering
dnata
Air Culinaire
Compass Group
Do & Co
Egypt Air In Flight Services
Gate Gourmet
Goddard Catering

Global In-Flight Catering Service Market is forecasted to demonstrate a spectacular growth by 2021, surpassing its previous growth records in terms of value with a striking 5% of CAGR during the projected period (2016 -2021).

Industry/ Innovation/ Related News:

January, 2016:- Hainan Airlines named Flying Food Servair ORD as the 'Outstanding Catering Company of 2015 (American Market) in December 2015.

June, 2015:- Gate Gourmet organized a food festival 'il TAVOLO' at Zurich, with over 14 cooking stations featuring Gate Gourmet Executive Chefs. This move, which included over 500 VIP guests was an initiate to showcase the company's culinary excellence to the industry.

December, 2013:- Emirates Food Catering services achieved a feat of completing over 46 million meals loaded on flights leaving Dubai. The company also beat its previous record by preparing 157,308 meals in a day on 20th December, 2013.

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Segmentation

For the convenience of the report and enhanced understanding; The Inflight Catering Service Market is segmented in to 4 key dynamics

Segmentation by Aircraft Class: First Class, Business Class, Premium Economy Class, and Economy Class.

Segmentation by Flight Type: Full Service and Low Cost.

Segmentation by Catering Type: Bakery & Confectionary, Meals, Beverages, and Others.

Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC, South America, and Middle East & Africa.

Inflight Catering Service Market – Regional Analysis

The Middle East and Africa will be one of the fastest growing regions in the in-flight catering market amongst all the regions of the world. The Middle East aviation market is developing faster than the African market where the air connectivity is relatively poor as a whole. North American commercial aviation market would remain to be the biggest and the most profitable market in the in-flight catering services in the world but its growth rate would be quite lower than the regions like that of Asia-Pacific, Latin America and Middle East & Africa, due to market saturation. The majority of the income in the aircraft catering services comes from full service carriers, and their relatively slow growth rates in the European and Asian market, in comparison to the low-cost carriers, would limit the growth of the aircraft catering services market.

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