May 22, 2024

The Aircraft Galley Equipment Market is Poised for Growth Driven by Sustainability Initiatives

 

The aircraft galley equipment market comprises a wide range of products that are essential for aircraft cabin operations and passenger facilities. Key products include trolleys, containers, thermally insulated containers, and coffee and beverage makers among others. With growing air passenger traffic worldwide, airlines are increasingly focused on enhancing the in-flight experience for travelers. They are upgrading galley equipment with smart technology and lightweight materials to improve service quality while ensuring lower emissions.

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. With increasing demand for in-flight catering and associated services from airline customers and passengers, key industry players are investing in advanced product development to gain competitive edge. The growing demand is driven by factors such as increasing air traffic, larger aircraft fleet size, and focus on passenger comfort. Manufacturers are expanding globally to position themselves close to major airline customers and MRO centers.

Market Key Trends

One of the major trends driving innovation in the aircraft galley equipment market is the focus on sustainability. Manufacturers are developing new galley components with lightweight yet durable smart materials that can reduce aircraft fuel costs and carbon emissions over the lifespan. They are also introducing “greener” products featuring recyclable and biodegradable materials, more efficient energy and water systems, as well as digital solutions for paperless cabin service and operations. This is allowing airlines to improve their sustainability credentials and comply with evolving environmental regulations.

Porter’s Analysis

Threat of new entrants: Low capital requirements and few economies of scale give small new entrants room to operate.

Bargaining power of buyers: Airlines have substantial bargaining power over equipment makers as a relatively small number of large buyers.

Bargaining power of suppliers: A few large suppliers exist for key components like ovens and trolleys, giving them some power over equipment makers.

Threat of new substitutes: Limited substitutes exist for purpose-built galley equipment needed onboard aircraft.

Competitive rivalry: Intense competition exists among global equipment makers to win new aircraft outfitting contracts from airframers and airlines.

Geographical Regions

The North American region holds the major share of the aircraft galley market in terms of value, due to significant aircraft fleet size and equipment replacement rates in that region. Most major aircraft equipment makers have manufacturing plants located in the U.S. and Canada to best serve aviation customers there.

Asia Pacific region is projected to be the fastest growing market for aircraft galley equipment during the forecast period. This is due to substantial new aircraft deliveries anticipated for low-cost and full-service airlines in countries like China, India and throughout Southeast Asia looking to modernize and expand fleets to accommodate rising air travel demand in those emerging economies.

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