Aircraft galley equipment refers to the kitchens and pantries on an aircraft used for food and beverage storage, preparation and service to airline passengers. Major products include aircraft catering equipment such as water boilers, coffee makers, beverage holders and trays. With increasing air travel, airlines are focused on enhancing passenger experience with modern galley equipment.

The 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:
Rising aircraft deliveries is a key driver for the aircraft galley equipment market. According to Boeing, over 41,000 new aircraft will be delivered over 2023-2042 period globally to meet rising air travel demand. This will require equipping of modern galley equipment in these new aircraft. In addition, existing aircraft require replacement and upgrades of old galley equipment which further stimulates market growth. Furthermore, focus on premium economy and business class segments by airlines have led to adoption of innovative and customized galley solutions to improve passenger comfort during long flights. Focus on sustainable and lightweight equipment by manufacturers also supports market expansion over the forecast period.

SWOT Analysis

Strength: The aircraft galley equipment market has strong growth potential driven by increasing aircraft orders and passenger traffic. Manufacturers providing innovative products with improved features see higher demand. Regulatory standards ensure equipment safety and performance reliability.

Weakness: Volatility in raw material prices and supply chain disruptions increase production costs. Storage and weight limitations on aircraft pose design challenges for equipment optimization.

Opportunity: Upgrades of existing aircraft fleets with advanced galley systems create lucrative opportunities. Developing lightweight and compact equipment expands usable space and payload capacity.

Threats: Economic slowdowns negatively impact passenger air travel volumes and fleet expansion plans of airlines. Stiff competition from substitute technologies and alternative material forces pricing pressures.

Key players

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. Major players are focusing on developing lightweight and multifunctional equipment through continuous innovations and partnerships.

Regional analysis

The Asia Pacific region is projected to experience the fastest growth in the aircraft galley equipment market, growing at a CAGR of around 7.5% during the forecast period. This rapid growth can be attributed to rising incomes, increasing air connectivity between countries, and expanding aircraft fleet of airline companies based in countries like China and India. North America currently has the largest share of over 30% of the global market, led by major aircraft manufacturers and airlines based in the US.

Key Takeaways:

The global  Aircraft Galley Equipment market is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period, due to increasing air passenger traffic and new aircraft deliveries. North America currently dominates the market due to large aircraft fleet sizes and increasing demand for premium economy class.