February 18, 2025

The aircraft galley equipment market is driven by increased aircraft procurement

 

Aircraft galley equipment refers to the components and systems for food storage, meal preparation and service on board the aircraft. Key products include ovens, refrigerators, chillers, freezers, drink holders, trolleys and carts. Aircraft galleys facilitate efficient meal preparation and service to passengers as well as crew during a flight. With the growing demand for air travel, aircraft manufacturers are focusing on increased passenger comfort which is fueling the demand for advanced aircraft galley equipment.

The global Aircraft Galley Equipment Market 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 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends in the aircraft galley equipment market is the development of eco-friendly products. Aircraft manufacturers and galley equipment providers are investing in research and development of sustainable products to reduce fuel consumption and carbon footprint. For instance, development of lighter and more durable materials for galley components can reduce aircraft weight and improve fuel efficiency. Similarly, technologies allowing electric or hybrid options for galley equipment like ovens and chillers can decrease dependency on jet fuels. These environment-friendly innovations are gaining traction among airlines aiming to meet sustainability goals and address regulatory emission norms.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is relatively low due to high capital requirements and established reputation of existing players.

Bargaining power of buyers: The bargaining power of buyers is moderate due to the presence of established vendors. However, large aircraft manufacturers hold significant bargaining power.

Bargaining power of suppliers: The bargaining power of suppliers is moderate due to the availability of component suppliers. However, suppliers of critical components hold higher bargaining power.

Threat of new substitutes: The threat of substitutes is low as there are no direct substitutes for aircraft galley equipment.

Competitive rivalry: The competitive rivalry is high due to the presence of global players and compatibility requirements across aircraft types.

Key Takeaways

The global Aircraft Galley Equipment Market is expected to witness high growth. The global Aircraft Galley Equipment Market 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 to 2030.

Regional analysis: North America is expected to be the largest as well as fastest growing regional market for aircraft galley equipment during the forecast period owing to increasing aircraft fleet in this region. The Asia Pacific region is anticipated to exhibit lucrative growth opportunities owing to increasing aircraft procurement and rising demand for air travel in emerging nations of this region.

Key players: Key players operating in the Aircraft Galley Equipment Market are Aerolux Ltd., AVIC Cabin Systems, Boeing, Bucher Group, Diehl Stiftung & Co. KG, Dynamo Aviation, GAL Aerospace Group, JAMCO Corporation, RTX and Safran.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it

Money Singh

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, chemical and materials, defense and aerospace, consumer goods, etc.

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