In-Flight Catering Service Market Investment Opportunities ans Sales revenue | Industry Leaders: Air Culinaire, Compass Group, Egypt Air In Flight Services, Gate Gourmet, Goddard Catering

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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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.

The global in-flight catering services market is anticipated to grow owing to the increasing rate for Air Travels worldwide. The market is forecasted to demonstrate an upsurge growth by 2021, with a substantial CAGR of 5% during the projected period (2016 -2021).

Segmentation:

The global in-flight catering service market report is primarily segmented in to 4 categories:
On The Basis Of Aircraft Class: First Class, Business Class, Premium Economy Class and Economy Class
On The Basis Of Flight Type: Full Service and Low Cost
On The Basis Of Catering Type: Bakery & Confectionary, Meals, Beverages and Others
On The Basis Of Region: Asia Pacific, Europe, North America, Latin America and the Middle East & Africa

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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The market report for In-Flight Catering Service Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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