Press release
In-Flight Catering Service Market Analysis by Global Catering Leaders: SATS, Servair, Emirates Flight Catering, dnata, Air Culinaire Worldwide, Compass Group Rus, Egypt Air In Flight Services
In-Flight Catering Service Market Overview:Global aviation market is growing at a slow pace around the world. Airbus alone generated a backlog of 6,787 aircraft, which represents almost ten years’ worth of production. Even Boeing, which has fallen behind Airbus in recent times in terms of orders received, has accumulated a backlog of more than 4000 planes, of which 75% of the planes are the upcoming 737 MAX airplanes. This factor will limit the growth of the aircraft catering services market, as a number of new airplanes coming into the market each year will be of a limited amount, and the rate of growth of units sold will be almost constant up until 2020. Low-cost carriers, which presently control 1/4th of the total airline market are expected to grow rapidly at the expense of full-service carriers and are expected to hold close to 14% market share of in-flight catering services by 2020.
A major income of the aircraft catering services comes from full-service carriers. Their slowing growth rates in comparison to the low-cost carriers would limit the growth in the aircraft catering services market. Commercial aviation is a highly competitive business and carriers have to stay ahead of the game in order to retain market share. The expectations of passengers flying in full fare airlines are rising and carriers will continue to invest higher amounts of capital in this sector.
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Major Key Players
SATS,
Servair,
Emirates Flight Catering,
dnata,
Air Culinaire Worldwide, LLC.,
Compass Group Rus, Do & Co,
Egypt Air In Flight Services,
Gate Gourmet, and Goddard Catering.
According to MRFR, the global In-Flight Catering Service Market is expected to grow at a CAGR of around 5% during 2016-2021. Increased emphasis on quality food services and passenger preferences to pay for premium food are some of the key drivers for the market growth.
Inflight Catering Service Market – Competitive Analysis
Five major players dominate the market for in-flight catering services. However, when it comes to supplying small-medium size airports, the market is fairly fragmented with the presence of regional players. Demand for food with high quality and safety were the main reasons for airlines to prefer produce from the major manufacturers than the regional players. Further, these big players have increased their R&D spending exponentially to integrate the innovation with culinary excellence. This resulted in premium quality food for airline in-flight catering services.
Companies, such as IGS and JETFINITY, are trying to expand their presence beyond corporate catering, into the global aviation catering market, by working on integrated food solutions for the premium culinary experience. These companies are also providing a fast-track 2-hour order service for last-minute charter customers. IGS Catering is now offering VIP catering service to VIP guests. Major companies like Dnata, Gate Gourmet, and SATS are now providing tailor made catering services to low-cost carriers as well. Significant numbers of small/medium scale players are now emerging from Asia-Pacific countries. Offering premium quality products at comparative prices could drive the market share of these companies in the global in-flight catering services market by 2020.
Inflight Catering Service Market – Regional Analysis
The Middle East and Africa will be one of the fastest growing regions in the in-flight catering market amongst all the regions of the world. The Middle East aviation market is developing faster than the African market where the air connectivity is relatively poor as a whole. North American commercial aviation market would remain to be the biggest and the most profitable market in the in-flight catering services in the world but its growth rate would be quite lower than the regions like that of Asia-Pacific, Latin America and Middle East & Africa, due to market saturation. The majority of the income in the aircraft catering services comes from full service carriers, and their relatively slow growth rates in the European and Asian market, in comparison to the low-cost carriers, would limit the growth of the aircraft catering services market.
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In-Flight Catering Service Market – Regional Analysis
In Flight Catering was historically not a big industry within the business jet market, but with increased expectations from the business jet passengers and rising concerns related to safety of food, In-Flight catering service segment will increasingly participate in the market.
North American commercial aviation market would remain to be the biggest and most profitable market in the in-flight catering services in the world. North America market is moving towards saturation in the forecasted period, due to this its growth rate would be quite lower than the regions like that of Asia Pacific, Latin America and Middle East & Africa. The Middle East and Africa in-flight catering market will be one of the fastest growing regions amongst all the regions of the world. The Middle East Aviation market is comparatively developing than the African market where the air connectivity is relatively poor as a whole. Most of the income in the aircraft catering services comes from full service carriers and their relatively slow growth rates in the European and Asian market, in comparison to the low cost carriers would restrict the growth of the aircraft catering services market.
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