Galley Equipment Market Size, Share Global Analysis Report, 2022–2028

Industry Insights

[227+ Pages Report] According to Facts and Factors, the global galley equipment market was worth around USD 6219.5 million in 2021 and is estimated to grow to about USD 7915.1 million by 2028, with a compound annual growth rate (CAGR) of approximately 4.1% over the forecast period. The report analyzes the galley equipment market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the galley equipment market.

Market Overview:

The galley is the onboard kitchen on a water-borne or air-borne vessel, where food is cooked and various food materials are stored. Due to the limited amount of space available on a vessel, the galley in various ships and aircraft is compact and efficient to maximize available space. The increasing demand for lightweight galley equipment is one of the major factors driving the global growth of the galley equipment market in the forecast period. In addition, the rapid technological advancement, as well as the increasing demand for customized galley and modular galley equipment, will provide significant opportunities for the growth of the aircraft galley equipment market in the coming years. The growing demand for comfort and convenience on various ships and aircraft has increased the demand for cutting-edge galley equipment, driving the market in the upcoming years.

In recent years, the galley equipment market has become more profitable due to new opportunities such as modular galleys and customized galley equipment. Moreover, the growing demand for ships and aircraft for both leisure and commercial purposes will directly drive global demand for galley equipment in the approaching years. Leading companies in this market strive to provide galley equipment that is specifically designed and developed to meet individual needs, in order to stay ahead of the competition, which is supporting market growth.

COVID-19 Impact:

Most industries across the world have been negatively impacted due to the Covid-19 pandemics. This can be attributed to severe disruptions in their respective manufacturing and supply-chain operations as a result of numerous precautionary lockdowns and other limitations imposed by governing agencies around the world. Moreover, consumer demand has reduced as individuals are now more focused on reducing non-essential spending from their personal budgets since the overall economic position of most people has been negatively impacted by this epidemic. The aforementioned reasons are projected to weigh on the worldwide Galley Equipment market's revenue trajectory throughout the forecast period. However, when regional regulating bodies begin to relax these imposed lockdowns, the global Galley Equipment market is likely to rebound.

Growth Drivers

• Rising Demand for Aircraft

The factors responsible for the increased demand for galley equipment in the aircraft industry are the increase in demand for efficient and functional aircraft galley equipment and high competition among airlines to deliver better services to flyers. Airlines would be able to serve better food and beverages if they used better galleries. These factors could have a significant impact on worldwide market performance. The increasing demand for customized galley and modular galley equipment, as well as the expanding demand for customized galley and modular galley equipment, are driving up demand for aircraft galley equipment during the forecast period.

Restraints

There are various restraint elements in the galley equipment market that limit market performance. One of the major constraints is the need for large amounts of money to spend on research and development in order to build upgraded and better gallery equipment. In addition, the growing popularity of low-cost carriers for a variety of commercial and personal uses has stifled the growth of galley equipment.  Moreover, enterprises in this industry are always challenged by the need to reduce the weight and size of galley equipment. During the forecasted period, operating organizations must handle the restraining components in order to carry out their activities efficiently in the dynamic market.

Opportunities

There are various opportunities in the global galley equipment market that could have a beneficial impact on its future growth. Integrating new and sophisticated technology could assist aircraft galley equipment makers in creating and delivering better market offers. There is also a potential for market participants to use new approaches to create lightweight, practical gallery equipment. In addition, the Increasing Shipments in Asia-Pacific, Latin America, and the Middle East, due to the increase in demand, rapid urbanization, and change in lifestyle, are creating significant opportunities for the market player in the region.

Challenges

A slew of challenges could occur in the worldwide galley equipment market arena, stifling its growth potential. One of the most difficult issues is the ever-changing nature of technology included in galley equipment. In addition, the need for different sizes of galley types of equipment as per the customer needs and the technological development in the aircraft industry is likely to pose a major challenge. Another significant market challenge that may arise is the requirement for equipment with variable design criteria by several airlines. It might pose a significant challenge to the industry.

Segmentation Analysis

The Galley Equipment Market is segregated based on Application, Aircraft Type, Ship Type, Insert Type, and Fit.

By Application, the global market is distinguished into Aviation, Marine, Defense, and Commercial. The marine segment dominates the market and is expected to continue its dominance over the forecast period, primarily driven by the increasing number of marine shipments across the globe. Countries such as Russia, the United States, Japan, China, and the United Kingdom are investing heavily in the development of their naval forces. This budget involves the purchase of new marine vehicles, thus driving the market. Increasing government spending on naval force development is also likely to drive galley equipment application in the defense industry.

By Aircraft Type, the global market is distinguished into Single-aisle, Twin-aisle, and Business general aviation. The single-aisle segment is growing at a rapid pace during the forecast period due to the growing demand for single-aisle aircraft across the globe. This growth is due to the fact that the single-aisle enables to narrowing of the length of aircraft.

By Ship Type, the global market is distinguished into Surface Ships, Amphibious Ships, Passenger Vessels, Recreational Boats, and Bulk Carriers.

By Insert Type, the global market is distinguished into Aviation Galleys, Electric Insert, Non-Electric Insert, Ship Galleys, Electric Insert, and Non-Electric Insert. The non-electric category is likely to dominate market performance over the forecasted period.

By Fit, the global market is distinguished into Line Fit and RetroFit. The retrofit category has performed very well and is likely to dominate the worldwide market over the forecasted period.

Report Scope

Regional Landscape

The Asia Pacific has witnessed considerable growth. The spike in demand for new aircraft deliveries is a crucial aspect contributing to its exceptional growth. It may also have a favorable effect on the region's performance over the anticipated term. In the last several years, the region has seen considerable expansion in the aviation and marine industries, mostly due to increased demand for new aircraft deliveries and an increase in the region's marine fleet, which is likely to enhance the galley equipment market. This expansion can also be linked to increased government spending on expanding naval forces, which increases the disposable income of the population in developing countries.

North America dominates the aircraft galley equipment market and will continue to flourish in its trend of dominance during the forecast period because of the significant presence of major aerospace airlines, distributors, and Original Equipment Manufacturers (OEMs). In addition, the region's expanding commercial aircraft fleet and desire for additional commercial aircraft and business jets will drive the market in the region. Furthermore, the cruise industry in North America is growing as more people choose cruise travel in the region; new cruise ships with larger capacity are scheduled to be delivered in the future, propelling market expansion in the future.

Competitive Landscape

Some of the main competitors dominating the Galley Equipment Market include-

• B/E Aerospace (U.S.)
• Zodiac Aerospace (France)
• JAMCO Corporation (Japan)
• Diehl Stiftung & Co. KG (Germany)
• Meili Marine (U.S.)

The global galley equipment market is segmented as follows:

By Application Segment Analysis

• Aviation
• Marine
• Defense
• Commercial

By Aircraft Type Segment Analysis

• Single-aisle
• Twin-aisle
• Business General Aviation

By Ship Type Segment Analysis

• Surface Ships
• Amphibious Ships
• Passenger Vessels
• Recreational Boats
• Bulk Carriers

By Insert Type Segment Analysis

• Aviation Galleys
• Electric Insert
• Non-Electric Insert
• Ship Galleys
• Electric Insert
• Non-Electric Insert

By Fit Segment Analysis

• Line Fit
• Retro Fit

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic countries
    • Denmark
    • Finland
    • Iceland
    • Sweden
    • Norway
  • Benelux Reunion
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America