The global aircraft galley equipment market is seeing strong growth, with a significant compound annual growth rate (CAGR) expected through 2032. Aircraft galley equipment means the different devices and appliances needed for the preparation and serving of food and beverages in commercial aircraft. The ability of the product to offer an optimized in-flight facility by using minimum space primarily at the aircraft’s back and front sides is proliferating the market growth. Moreover, it is deployed by most manufacturers or aircraft service providers for enhanced customer service.

Informational Source:

https://www.fortunebusinessinsights.com/aircraft-galley-equipment-market-108140

Major Players Profiled in the Report:

• B/E Aerospace (U.S.)

• Zodiac Aerospace (France)

• Rockwell Collins Inc. (U.S.)

• Cadence Aerospace (U.S.)

• Jamco Corporation (Japan)

• Avionics Support Group (U.S.)

• Turkish Cabin Interior (Turkey)

• Korita Aviation (Netherlands)

• Bucher Group (Switzerland)

• Diehl Stiftung & Co. KG (Germany)

Decrease in Air Passenger Traveling Significantly Influenced the Market

The market witnessed a significant influence of the COVID-19 pandemic owing to a drop in air passenger traveling. In addition, many restrictions post the pandemic on preserving food and beverages, heightened emphasis on hygiene, and airline services led to an impact on the market, which resulted in the slowdown of the market growth.

Segmentation:

With respect to type, the market is divided into modular, customized, and standard.

By utilization, the aircraft galley equipment market is segregated into refrigeration, beverages, food, and others.

In terms of fit, the market is bifurcated into retro and line.

Based on aircraft, the market is categorized into wide-body, regional, business jets, and narrow-body.

With respect to inserts, the market for aircraft galley equipment is divided into non-electric and electric.

From the geographical front, the market is classified into Europe, the Asia Pacific, North America, and the rest of the world.

Report Coverage

The market research report offers vital insights into the major industry developments, the latest trends, and the COVID-19 pandemic impact on the market expansion. It also provides an in-depth analysis of the significant factors driving the aircraft galley equipment market size. Additional aspects of the report include the competitive strategies taken by top companies and restraining factors expected to hinder the market growth during the forecast period.

Drivers:

Quickly Growing Demand for Air Travel to Bolster the Market Growth

One of the major factors escalating the aircraft galley equipment market growth is a rapid expansion in the demand for air travel. This factor has encouraged leading companies of business jets and aircraft manufacturers to provide passengers with luxurious yet innovative experiences onboard. Moreover, the quick technological innovations coupled with a growth in the need for modular galley equipment and customized galley are further expected to offer lucrative opportunities for the expansion of the market.

However, the complexity pertaining to design and technology may hamper the market growth.

Regional Insights:

Asia Pacific is Witnessing High Growth Owing to a Notable Increase in Air Passenger Traffic

The Asia Pacific market for aircraft galley equipment is observing high growth. This can be credited to a substantial rise in air passenger traffic in the last few years, which is due to the presence of tourist destinations coupled with the accessibility of flying.

Competitive Landscape:

Top Players Deploy Partnership Strategies to Deliver Enhanced Solutions

A diverse array of strategic moves are being incorporated by top players in the market to bolster their aircraft galley equipment market share. Joint ventures, capacity expansions, and mergers & acquisitions are the strategies being implemented by market leaders to reinforce their position in the industry. In addition, the companies are focusing on entering partnership deals to offer enhanced solutions to customers.

Key Industry Development

November 2022:  Crown Airline and J&C Aero announced an agreement to offer coverage to the design and production of different aircraft cabin interiors, such as seat belts, galley modifications, and carpets, to the specifications of the new operator of the two aircraft.

March 2022: Lynx Air, one of the new airline providers in Canada, unveiled the selection of Turkish Cabin Interior. This selection was made for the company’s cabin manufacturing and design of interior components. Moreover, the Galleys made by TCI will be deployed by the airline.