The aircraft galley equipment market comprises equipment that are installed in aircrafts for storage, preparation, and serving of food and beverages. Such equipment includes beverage makers, coffee makers, food warmers and ovens, refrigerators, freezers, and water boilers. Galley equipment aids in providing onboard catering services effectively to passengers on aircrafts by ensuring availability of food and drinks at adequate temperatures throughout the flight duration. Growing airline traffic and fleet expansion of airlines have heightened the demand for new aircrafts and retrofitting of existing ones with advanced 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.
Key Takeaways
Key players operating in the Aircraft Galley Equipment are Aerolux Ltd., AVIC Cabin Systems, Boeing, Bucher Group, Diehl Stiftung & Co. KG, Dynamo Aviation, GAL Aerospace Group, JAMCO Corporation, RTX and Safran. These players are focusing on new product launches and collaborations to strengthen their market position.
There are significant opportunities for galley equipment manufacturers in developing lightweight, energy-efficient, and multifunctional equipment. Aircraft cabin interior retrofitting also presents an attractive area for industry participants.
Major galley equipment companies are expanding their global footprint by establishing manufacturing and service facilities across regions to cater to the growing demand from domestic airlines. For instance, Aerolux opened a new facility in Singapore to support business growth in Asia Pacific.
Market drivers
Growing passenger traffic and replacement of aging aircraft fleet are major drivers of demand for new galley equipment. According to IATA, the number of air travelers is expected to double to 8.2 billion by 2037. This will necessitate procurement of new aircraft with modernized galleys by airlines.
Increasing air cargo transportation is also propelling the need for aircraft with large cargo holds that require advanced galley setups to facilitate in-flight catering for crew members.
Market restraints
High equipment and installation costs associated with galley interior designs act as a major restraint. Frequent equipment failures and maintenance challenges also hamper the growth of this market. Stringent aviation safety regulations further increase the financial burden on stakeholders.
Segment Analysis
The aircraft galley equipment market is dominating by the economy class segment. This is because economy class passengers account for the majority of passengers on board commercial aircrafts. Economy class segment accounted for over 60% market share in 2023 due to higher demand for affordable air travel from medium income groups.
Business class is the second largest segment in the aircraft galley equipment market. Business class travellers prefer additional services and amenities during air travel. Hence, airlines are focused on enhancing the business class cabin experience by offering advanced galley equipment such as coffee and tea makers, refrigerators, and beverage makers.
Global Analysis
North America region accounted for the largest share of over 35% in the global aircraft galley equipment market in 2023. Presence of large aircraft fleets from major airlines such as Delta, American Airlines and United Airlines along with constant upgrades and replacement of old galley equipment drives the demand.
Asia Pacific is expected to grow at the fastest rate during the forecast period owing to rising air passenger traffic in countries such as China, India. Air carriers in Asia Pacific are focused on modernizing the passenger experience by investing in new aircrafts with latest generation aircraft galley equipment. Additionally, shortage of pilots is also stimulating demand for larger widebody aircrafts with advanced galleys to meet the increasing air travel demand from the region.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
