The aircraft galley equipment includes refrigerated modules, ovens, beverage makers, trolleys, and trash compactors catering to preparing and serving food and beverages to airline passengers effectively. Modern galley equipment incorporates advanced technologies to reduce weight, improve efficiency, minimize aircraft turnaround time and maximize storage space. Aircraft galley systems are installed in both narrow-body and wide-body aircraft based on the number of passengers carried and distance traveled.

The global aircraft galley equipment market is estimated to be valued at US$ 2.56 Bn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The aircraft galley equipment market is driven by rising demand for energy-efficient galley equipment from airline carriers. Modern galley systems consume 30-40% less energy as compared to conventional ones through technologies such as ultra-low friction sliding mechanisms, LED lighting, and inverter-driven motors. This significantly reduces aircraft operating costs and carbon footprint. Another key factor propelling the aircraft galley equipment market growth is new aircraft deliveries. According to Airbus, over 39,000 new aircraft are projected to be delivered over the next 20 years valued at US$ 5.8 trillion. This massive aircraft procurement rate will positively influence the demand for advanced and technologically advanced galley systems during the forecast period.

SWOT Analysis

Strength: Aircraft galley equipment providers are developing technologically advanced and lightweight equipment that improves space efficiency. Equipment like integrated galleys saves space and reduces weight. Some galley equipment manufacturers offer custom designs and configurations as per specific customer needs.

Weakness: High initial investment costs associated with aircraft galley equipment increases the payback period. Frequent equipment repairs and maintenance add to the operating expenses of airlines. Susceptibility to technological changes leads to shorter product life cycles.

Opportunity: Growing demand for VIP customized aircraft cabin interiors offers opportunities for innovative galley inserts. Adoption of 3D printing technology for aircraft components enables complex yet lightweight galley insert designs. Eco-friendly innovations in materials used for galley inserts enhance sustainability.

Threats: Economic uncertainties and fluctuations in crude oil prices impact airline industry revenues and fleet expansion plans. Mergers and acquisitions in aircraft OEM and airline industries influence equipment procurement decisions. Outbreak of infectious diseases affects passenger air travel demand.

Key Takeaways

The global Aircraft Galley Equipment Market is expected to witness high growth over the forecast period driven by rising passenger air traffic and fleet expansion plans of major airline carriers globally. The global aircraft galley equipment market is estimated to be valued at US$ 2.56 Bn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030.

The North American region currently dominates the market owing to presence of leading aircraft manufacturers and airlines in countries like the US. The Asia Pacific region is expected to grow at the fastest pace during the forecast period. Countries like China and India are witnessing massive growth in domestic and international air passengers with their economies and middle-class population expanding rapidly. Low-cost carriers have strengthened regional air connectivity across South East Asian countries propelling the demand for new aircraft deliveries and replacement of older galley equipment.

Key players related content comprises: Key players operating in the Aircraft Galley Equipment market are Aerolux Ltd., AVIC Cabin Systems, Boeing, Bucher Group, Diehl Stiftung & Co. KG, Dynamo Aviation, GAL Aerospace Group, JAMCO Corporation, RTX and Safran.