Aircraft galley equipment are components that are used in aircrafts for food preparation and cabin service. It includes various appliances such as ovens, beverage makers, chillers and freezers. Growth in airline travel has increased the demand for new aircrafts which is driving the need for aircraft galley equipment.
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, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising airline travel has been a major factor promoting the growth of aircraft galley equipment market. With increasing disposable income and growing globalization, the number of air passengers have surged significantly over the past few years. Higher demand for air travel results in increased procurement of new aircrafts by airline companies to meet this growing demand. This in turn is propelling the need for advanced galley equipment for aircraft interior modification and retrofitting activities. Manufacturers are focusing on developing innovative galley equipment with lightweight and efficient designs to help airlines reduce operating costs and improve fuel efficiency. Adoption of advanced galley equipment allows airlines to offer enhanced passenger experience and comfort during air travel.
Segment Analysis
The global aircraft galley equipment market is dominated by the galley inserts sub segment. Galley inserts include food trolleys, coffee makers and equipment for beverage preparation. They account for over 35% of the market share as airlines focus on enhancing in-flight customer experience by offering a variety of hot beverages and snacks. Dominating the sub segment provides stable revenue streams for key players.
Key Takeaways
The global aircraft galley equipment market is expected to witness high growth over the forecast period of 2023 to 2030. 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.
Regional analysis: North America currently dominates the market with the highest share of over 30% due to large fleet sizes of major airlines in the US and Canada. However, Asia Pacific is expected to be the fastest growing region during the forecast period due to increasing air passenger traffic and aircraft deliveries in countries like China and India.
Key players operating in the aircraft galley equipment market are Aerolux Ltd., AVIC Cabin Systems, Diehl Stiftung & Co. KG, Dynamo Aviation, GAL Aerospace Group, JAMCO Corporation, RTX and Safran. They are focusing on developing innovative and lightweight galley systems to meet the growing demand from airlines for fuel efficient aircraft.
The key players focus on developing innovative and lightweight galley systems to meet the growing demand from airlines for fuel efficient aircraft. Products launched by players like GAL Aerospace’s fully integrated galley solutions have enhanced efficiency while reducing weight. Players also pursue partnerships and mergers for new product development and geographic expansion to capture larger market share. For example, Diehl Aerospace recently partnered with RTX to develop new cabin interior products.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
