Augmenting size of the aircraft fleet drives the demand in Aircraft Galley Market
The global Aircraft Galley Market was worth USD xx billion in 2020, and it is predicted that it will reach USD xx billion by 2025 at a CAGR of 3% during the foreseen period.
Aircraft Galley is implemented in various types of aircraft, such as extra-large body, narrow and wide, to provide the best service to customers. There are many types of kitchen inserts on the market, such as electrical inserts and non-electrical inserts. Such equipment helps provide better kitchen services, such as serving fresh food and beverages to passengers.
Market Drivers and Restrains:
Globally, the Aircraft Galley market is largely driven by a growing fleet of commercial airlines. Some of the key factors driving the aircraft Galley market are the increasing demand for aircraft, the rising need for lightweight Galley equipment, and the growing call for customizing Galley based on preferences. Because aircraft galley systems are easily inserted into these types of aircraft, the demand for aircraft galleys is expected to be dominated by the wide-body aircraft sector. In addition, airline operators carry out aircraft modernization initiatives to improve the level of service provided to passengers during the flight and have a positive impact on the business prospects of suppliers operating in the market. The growth of the aviation industry, supported by a global economic recovery, investment in fuel-efficient subsystems and components, and increasing demand for luxury and convenience, is the key that is expected to provide more profitable growth opportunities in the global market for aviation galley systems than anticipated. The market is driven by aircraft expansion initiatives by airline operators to accommodate increasing air passenger traffic. Increasing technological advancements and increasing requirements for custom kitchens and modular kitchen equipment are creating opportunities for increased demand for Aircraft Galley in the forecast period.
Meeting stringent requirements for lightweight and flame-retardant kitchen systems, along with advanced technical capabilities, are key challenges identified by manufacturers in the global Aircraft Galley market. The increasing acceptance of low-cost airlines for personal and commercial purposes and market participants face the ongoing challenge of reducing the size and weight of kitchen equipment, which are several factors that could hamper the market.
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Report is segmented as:
The global market for Aircraft Galley is segmented by aircraft type into widebody aircraft, narrow-body aircraft, regional aircraft, oversized aircraft, and business jets. The aircraft galley with wide body is expected to be the most dominant and fast-growing segment in the global Aircraft Galley market for years to come. The narrow airplane is likely to generate strong demand for kitchen equipment over the next decade.
Regionally, the Asia Pacific aircraft Galley systems market is expected to grow at a significant CAGR in the near future. This is mainly due to the increased demand for new aircraft in developing countries such as India and China. The global market for aircraft Galley systems is supposed to be prominent in North America and Europe due to the presence of large numbers of aircraft and the increasing demand for premium products in the industry.
Key market players:
Some of the key market players in the global Aircraft Galley market are ZODIAC AEROSPACE, Rockwell Collins, Inc., AIM ALTITUDE, JAMCO Corporation, and RAS Completions Ltd.
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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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