The aircraft galley equipment market consists of various equipment that are used inside an aircraft for food storage, preparation and distribution. Some of the key galley equipment includes water boilers, chimneys, coffee machines, food carts and refrigerators. The galley equipment ensures optimal usage of space inside an aircraft and provides convenience in storing as well as preparing food items. Aircraft galleys are specifically designed to withstand extreme flight conditions like changes in pressure and temperature. The growing aircraft deliveries especially in single-aisle aircraft is expected to propel the demand for new galley equipment.

The Global Aircraft Galley Equipment Market is estimated to be valued at US$ 2.56 Bn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030.

Key Takeaways

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

The growing demand for new aircraft deliveries especially in single aisle aircraft is driving the aircraft galley equipment market. The increasing global air passenger traffic is prompting airlines to expand their fleet size. This is positively impacting the demand for new galley equipment.

Major aircraft manufacturers are expanding their presence across different regions of the world. This global expansion is creating potential growth opportunities for galley equipment manufacturers globally. Aircraft galley equipment manufacturers are signing long term contracts with OEMs to cater to their global production.

Market drivers

The growing aircraft deliveries remain the key driver propelling the aircraft galley equipment market. Over the last few years, there has been a substantial rise in commercial aircraft deliveries with leading OEMs booking record number of new orders. In particular, single-aisle aircraft deliveries are growing at a robust pace given increasing demand for short-haul flights. Since all new aircraft require complete set of galley equipment, their increasing production acts as a fundamental growth driver for galley equipment market.

Impact of geopolitical situation on Aircraft Galley Equipment Market growth

The current geopolitical environment has important implications for the growth of the global Aircraft Galley Equipment market over the forecast period of 2023-2030. Rising geopolitical tensions and conflicts amongst major economies are contributing to heightened security concerns and restrictions on travel. This has reduced cross-border travels to some extent, thereby posing challenges to the demand growth of new aircraft and aircraft modernization programs of airlines. However, governments across key nations continue prioritizing investments in their national aviation sectors to strengthen military fleets as well as improve domestic and international connectivity. This provides support to the requirement for advanced galley equipment onboard military and commercial aircraft. Additionally, emerging economies in Asia Pacific and Middle East regions remain focused on upgrading dated aircraft fleets through new procurement programs. This presents new opportunities for aircraft galley equipment manufacturers to tap into the demand from such markets going ahead. Overall, while geopolitical uncertainties pose near-term risks, supportive government policies for the aviation industry are likely to ensure steady future growth prospects for this market.

Geographical regions with high concentration of Aircraft Galley Equipment market

North America currently dominates the aircraft galley equipment market and holds the largest share in terms of value. This is majorly on account of substantial fleet sizes of leading airline carriers in the US and Canada and extensive modernization activities being undertaken. Aircraft galley equipment OEMs also have a strong foothold in the region, which further aids market growth. Growing investments by countries like the US in development and production of advanced military aircraft are further supporting the aircraft galley equipment demand. Europe is another key market led by countries such as Germany, UK and France housing major aircraft manufacturers. Strong focus of the European Union on aviation sector is also benefiting the growth. Asia Pacific is anticipated to emerge as the fastest growing aircraft galley equipment market over the forecast period with China and India being at the forefront of development.

Fastest growing region in the Aircraft Galley Equipment market

Asia Pacific region is poised to display the fastest growth in the global Aircraft Galley Equipment market over the next seven years. This is attributed to rising civil aviation activities and increasing aircraft deliveries across countries like China, India and Southeast Asian nations. Asia Pacific currently contributes around 25-30% to the global passenger traffic and this share is projected to grow further. Recovery of the aviation industry post-pandemic and expansions of low-cost carriers are driving the procurement of new aircraft. Simultaneously, modernization programs of established airlines are generating opportunities. Also, increasing air passenger traffic is necessitating capacity expansions and fleet refurbishments. Such favorable factors are presenting lucrative prospects for aircraft galley equipment suppliers. With proactive government support and positive economic outlook, the region’s appetite for new aircraft remains robust, which will significantly boost the regional market during 2023-2030 period.