Aircraft Galley Global Market Report 2023
Major players in the aircraft galley market are JAMCO Corporation, Safran SA, Diehl Stiftung & Co. KG, AIM Altitude, Zodiac Aerosystems, Rockwell Collins Inc., Bucher Group, Bucher Group, Aerolux Ltd.
New York, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aircraft Galley Global Market Report 2023" - https://www.reportlinker.com/p06479969/?utm_source=GNW
, Korita Aviation B.V., Air Cabin Engineering, Inc., Jeitek Corporation, Loipart AB, Kang Li Far East Pte Ltd., Aluminox S.A., Hannams Pty Ltd., Dynamo Aviation Inc., and Sell GmbH.
The global aircraft galley market is expected to grow from $5.53 billion in 2022 to $5.84 billion in 2023 at a compound annual growth rate (CAGR) of 5.70%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many markets across the globe. The market is expected to reach $7.12 billion in 2027 at a CAGR of 5.06%.
The aircraft galley market consists of sales of galley frames and galley carts.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
An aircraft galley is a compartment where food is prepared on commercial airlines. It is a compartment on the aircraft that includes facilities to store and serve food and beverages, as well as flight attendant emergency equipment storage.
North America was the largest region in the aircraft galley market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the aircraft galley market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of aircraft galley include standard galley, modular galley, and customized galley.Standard galley refers to the arrangement and equipment found in the kitchen section of an aircraft.
They are available in various fits including line fit and retrofit in various galley inserts including electrical and non-electrical for use in applications such as aviation and military.
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.
In July 2022, Curtiss-Wright Corporation, a US-based defense and aerospace manufacturer, acquired Safran Aerosystems Arresting Company (SAA) for $240 million.The acquisition of Safran Aerosystems aligns with Curtiss-Wright’s financial goals of achieving sustainable profitability and generating robust free cash flow over the long term.
Safran Aerosystems Arresting Company (SAA) is a France-based aerospace and defense equipment manufacturer.
The countries covered in the aircraft galley market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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