The Aircraft Galley Equipment Market is likely to grow at a significant CAGR of 11.1% during 2023-2028, to reach US$ 2.2 Billion in 2028, states Stratview Research.
DETROIT, Dec. 26, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the aircraft gallery equipment market which provides a comprehensive analysis of the global and regional industry forecast, current & emerging trends, segment analysis, and competitive landscape.
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Report Highlights
Market Size in 2028 | US$ 2.2 Billion in 2028 |
Growth (CAGR) | 11.1% during 2023-2028 |
Forecast Period | 2023-2028 |
Trend Period | 2016-2021 |
Base Year | 2022 |
Number of Segments Covered | 6 |
Number of Tables & Graphs | 80+ |
Country-Level Market Assessment | 20 |
Segment Insights on the Aircraft Galley Equipment Market
The aircraft galley equipment market is segmented based on aircraft type, galley type, insert type, sales channel type, end-user type, and region.
Based on aircraft type- The market is bifurcated into narrow-body aircraft, wide-body aircraft, regional aircraft, and business jets. Among aircraft types, Wide-body aircraft is expected to be the biggest demand generator for galley equipment in the foreseen future. The galley equipment market for the segment is being driven by mainly four aircraft (B787, A350XB, B777, and A330). Wide-body aircraft registered the highest decline amid the pandemic (2020 and 2021). The grounding of B787 in 2021 further exacerbated the market conditions. The segment's market is starting to rebound from 2022 onwards with a myriad of opportunities soon. Also, faster recovery of international air traffic is leading airframers to speed up their production rates of wide-body aircraft programs.
Based on insert type- The market is segmented into electric inserts and non-electric inserts. Electrical inserts include a beverage maker, chiller, water boiler, coffee maker, food warmer, and others. Non-electrical inserts are divided into serving pots, rack/trays, galley trolleys, and other inserts. Due to the rising demand for water boilers, beverage makers, and chillers, the electrical insert type is projected to continue to have a larger market share over the next five years.
Based on end-user type- The market is segmented as OE and aftermarket. Over the projection period, it is expected that the OE segment will dominate the market. The main reasons for its dominance are the massive aircraft backlogs of key airframers paired with recovering market conditions. Boeing and Airbus have already announced their plans to gradually ramp up their productions, which, has a direct impact on the market at the OE level. Further, the entry of COMAC may substantiate the demand for galley equipment at this level. The aftermarket level will expand significantly because of replacing older galley equipment with new, modern solutions that are light, offer increased fuel efficiency, and take up minimal space.
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Which Region Offers the Best Opportunity and Growth?
The report suggests that North America is expected to remain the largest market for aircraft galley equipment over the forecast period. This growth is majorly attributed to the following -
- With the presence of several aircraft OEMs, tier players, distributors, airlines, and raw material suppliers, the area is the production hub of the aviation industry.
- Over the following five years, it is anticipated that the USA will continue to drive market expansion in the region.
On the other hand, Asia-Pacific is predicted to experience the highest market growth in the next five years, due to several factors, including the development of commercial and regional aircraft (CMAC's C919), the largest fleet of commercial aircraft, and assembly plants of Boeing and Airbus in China.
Aircraft Galley Equipment Market Drivers
Some of the key drivers listed in the report are given below.
- Upcoming aircraft programs.
- Fleet modernization efforts by airlines.
- Projected ramp-up in production rates of key aircraft programs.
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Top 10 Companies in the Aircraft Galley Equipment Market?
The market is fairly consolidated with the presence of some global and regional players. Stratview Research has identified the following companies as the top market players.
- Safran S.A.
- Collins Aerospace
- Jamco Corporation
- Diehl Stiftung & Co. KG
- AVIC Cabin Systems Limited
- EFW GmbH
- Boeing Encore Interiors LLC
- Bucher Leichtbau AG
- The Gill Corporation
- Euro-Composites Corporation
What Deliverables Will You Get in this Report?
Key questions this report answers | Relevant contents in the report |
How big is the sales opportunity? | In-depth Analysis of the Aircraft Galley Equipment Market |
How lucrative is the future? | Market forecast and trend data and emerging trends |
Which regions offer the best sales opportunities? | Global, regional, and country-level historical data and forecasts |
Which are the most attractive market segments? | Market segment analysis and forecast |
Which are the top players and their market positioning? | Competitive landscape analysis, Market share analysis |
How complex is the business environment? | Porter's five forces analysis, PEST analysis, Life cycle analysis |
What are the factors affecting the market? | Drivers & challenges |
Will I get the information on my specific requirements? | 10% free customization |
Related reports which might be useful:
•Aircraft Interiors Market
•Aircraft Interior Lighting Market
• Aircraft Interior Fasteners Market
About us -
Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. The reliability and insightfulness of the reports enable the readers to take convincing business decisions.
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