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Aircraft Galley Market Report 2024 Latest Insights, Growth Rate, Future Trends And Forecast
Aircraft Galley Global Market Report 2024
According to The Business Research Company's, The aircraft galley market size has grown strongly in recent years. It will grow from $5.84 billion in 2023 to $6.17 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to airline industry growth, focus on passenger comfort and experience, efficiency and space utilization, catering service optimization, advancements in galley equipment.
The aircraft galley market size is expected to see strong growth in the next few years. It will grow to $7.53 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to demand for lightweight materials, demand for customization and personalization, focus on sustainability and eco-friendly materials, adaptation to changing travel trends, enhanced food safety and hygiene standards. Major trends in the forecast period include modular and flexible designs, emphasis on space optimization, integration of advanced appliances, enhanced food presentation and service, focus on ergonomics and workflow efficiency.
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Market Drivers and Trends:
An increasing number of aircraft is expected to drive the growth of the aircraft galley market. Aircraft refers to any vehicle that is designed to fly through the air, either by using a static lift or dynamic lift of an airfoil or by direct downward thrust from its engines. Aircraft galleys are compartments in aircraft where food is stored, prepared, and placed in carts to deliver to passengers. For instance, in December 2022, a report published by the European Organization for the Safety of Air Navigation, a Belgium-based organization responsible for achieving safe and seamless air travel across Europe, 9.3 million flights were seen in 2022, which is 3.1 million more than in 2019 and 83% of traffic. Ryanair leads the list of airlines that have added the most flights (+77K more than in 2019), followed by Wizz Air (+30K). In contrast, Sky Express saw the biggest percentage growth (+51%), and DHL and SunExpress were the other two top freight carriers. Therefore, the increasing number of aircraft will promote the growth of the aircraft galley market
Product innovation is a key trend gaining popularity in the aircraft galley market. Major companies operating in the aircraft galley market are focused on developing innovative products to strengthen their position and gain a competitive advantage. For instance, in August 2021, Safran S.A., a France-based aerospace equipment manufacturer introduced a new aircraft galley series for the Boeing 737 family named MaxFlex. The modular MaxFlex galley offers extensive adaptability, limitless possibilities for configurations, and effortless upkeep. Over 2,000 airplanes have installed the MaxFlex galley.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
JAMCO Corporation; Safran SA; Diehl Stiftung & Co. KG; AIM Altitude Holding Limited; Zodiac Aerosystems SAS; Raytheon Technologies Corporation; Aerolux Ltd.; United Technologies Corporation; Bucher Leichtbau AG; Commercial Aircraft Equipment; Dynamo Aviation Inc.; Korita AviationnB.V.; MAPCO & Miller Metal MFG; TCI Turkish Cabin Interior; B/E Aerospace Consumables Management; Collins Aerospace Interiors; Kang Li Far East Pte Ltd.; Loipart AB; Mecaer Aviation Group S.p.A.; Norduyn Inc.; Rockwell Collins Inc.; Sabeti Wain Aerospace; SkyMart Venture Partners; Sonaca Aircraft; STS Aviation Group; Trenchard Aviation Group; United Technologies Aerospace Systems; Vartan Aviation Group; Airbase Interior Inc.; Aviointeriors S.p.A.
Aircraft Galley Market 2024 Key Insights:
• The aircraft galley market will grow to $7.53 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%.
• Increasing Aircraft Numbers Drive Aircraft Galley Market
• Safran S.A. Revolutionizes Aircraft Galley Market With Maxflex Series
• North America was the largest region in the aircraft galley market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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