Inflight Catering Service Market forecasted to demonstrate an upsurge growth by 2021, with a substantial CAGR of 5%

Market Highlights:

The 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
Compass Group
Do & Co
Egypt Air In Flight Services
Gate Gourmet
Goddard Catering

Global In-Flight Catering Service Market is forecasted to demonstrate a spectacular growth by 2021, surpassing its previous growth records in terms of value with a striking 5% of CAGR during the projected period (2016 -2021).

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.

Segmentation

The In-Flight Catering Service Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation By Aircraft Class : Comprises First Class, Business Class, Premium Economy Class, and Economy Class.
Segmentation By Flight Type : Comprises Full Service and Low Cost and other.
Segmentation By Catering Type : Comprises Bakery & Confectionary, Meals, Beverages, and other.
Segmentation By Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
In the catering types segment, meals accounts 50- 55% of the market share followed by bakery & confectionary and beverages.

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Competitive Analysis
Characterized by the presence of several well-established players having regional presence, the global Market of In-Flight Catering Service appears to be highly competitive. Players operating in the global In-Flight Catering Service markets are focusing upon optimized situational awareness for commercial Airlines and ensure their mission success. To gain the competitive edge and to sustain in the market, these players are heavily investing to enhance the food quality and in global expansion. Players compete against each other based on factors such as the product, quality, reliability, cost, Facilities and services. Marketers are tapping the growing markets for expansions. Marketers identify the need for world-class in-flight catering and invest accordingly in state-of-the-art facilities to provide catering.

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This release was published on openPR.