by Market Overview:
Aircraft galley equipment refers to the appliances and equipment installed in the cabin of an aircraft to support inflight services. It includes essential galleys, in flight entertainment units, galley inserts, galley Carts, thermal equipment and refrigeration units. Aircraft galley equipment provides convenient storage and distribution of food, beverages and consumables during travel.
Market key trends:
One of the major trends in the aircraft galley equipment market is the growing demand for lightweight and fuel efficient galley inserts. Weight optimization in aircraft is vital to improve fuel efficiency. Galley equipment manufacturers are focusing on lightweight solutions such as carbon fiber and honeycomb structures for galley carts and inserts. Further, manufacturers are incorporating advanced connectivity features in galley equipment to enable digital monitoring and remote diagnostics. This helps airlines improve fleet management and reduce downtime.
A key trend gaining prominence in the aircraft galley equipment market is the growing demand for lightweight and fuel-efficient galley equipment. Aircraft manufacturers are focusing on reducing the overall weight of aircraft to improve fuel-efficiency and reduce carbon emissions. This has increased the focus on developing lighter weight galley equipment made from advanced composite materials. New lightweight galley insert solutions made from fiber-reinforced plastics are becoming increasingly popular. Additionally, manufacturers are developing modular and standardized galley solutions that can be customized based on the aircraft model and capacity, allowing for reduced maintenance and operational costs.
The global Aircraft Galley Equipment Market Demand is estimated to be valued at US$ 2.56 Bn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strength: Lightweight composite materials allow development of fuel-efficient and high-performance equipment.
Weakness: High R&D costs associated with development of innovative lightweight galley solutions.
Opportunity: Growing aircraft fleet and demand for VIP aircraft andbusiness jets present an opportunity.
Threats: Economic slowdowns can reduce demand from airlines,putting pressure on prices. Stringent aircraft certification regulations pose a challenge.
Key Takeaways
The global Aircraft Galley Equipment Market is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period, due to increasing air passenger traffic and aircraft deliveries.
The global aircraft galley equipment market size for 2023 is estimated to be US$ 2.56 Bn. North America dominates the global aircraft galley equipment market currently due to high demand from major aircraft manufacturers in the region.
Key players operating in the aircraft galley equipment market are SAFRAN, RTX, Aerolux Ltd, Diehl Stiftung & Co. KG, Jamco Corporation, Bucher Group, DYNAMO Aviation, GAL Aerospace, AVIC Cabin Systems, and Boeing. These players are focusing on developing advanced lightweight galley solutions made from composites to cater to the growing demand.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
