Description
The galley is a common connotation for Kitchen. An aircraft galley is a region in which food is prepared during a flight. The first aircraft with a Galley was invented within Germany in the year 1930. The first aircraft fitted kitchen was delivered in the year 1954. By the year 1955, Lufthansa was recorded to be the first airplane with a sell galley. In the past decade, the inclusion of an aircraft galley accounts for a key component of customer hospitality. The number of airlines that serve food onboard has dramatically increased during the study period.
The overall market for aircraft galleys is segmented by aircraft type and by region. The aircraft type segment is further categorized into Single Aisle, Twin Aisle, and Business Jets. The regional segment for this market provides a competitive mapping across the regions of North America, Europe, APAC, the Middle East, and the RoW.
One of the key drivers for the Aircraft Galley Market is the growth in the adoption of low-cost air carriers across countries like India. The rising disposable income within this country is a direct translation of the growth in industrialization within this region. The presence of countries including India and China are expected to serve as a key driver for the APAC market. Another factor that drives the market growth is the global change in economic stance. The upper-middle-class/middle-class population has been rampantly growing in the global markets. This in turn translates to a rise in purchasing power of the population.
The expanding number of business and leisurely travelers within the international market is another key factor that is anticipated to drive the market growth. The expanding propensity of business-based commute is expected to open new opportunities for the aircraft galley market. The burgeoning market potential for business jets is complimenting segment to the aircraft galley market. The growing commercial acquisition of business jets by companies is hereafter anticipated to drive the growth for the aircraft galley market.
The growing demand for air travel is another key factor that boosts the market potential for aircraft galleys. Between the years 2013-2018, air travel increased by a value of roughly 39%. The increasing number of passengers that opt for air travel serve as potential customers for the aircraft galley. The rise in the number of passengers has also promoted the aggradation of in-flight services. However, the market is anticipated to be subjected to a rapid plummet in the year 2020 owing to the advent of COVID-19. The global aviation sector is expected to witness a rapid depletion in the number of passengers owing to the imposed international lockdown. The pandemic has also been decreasing employment opportunities for the aviation segment. The reduction in direct, indirect, and induced employment is expected to reduce the spending potential of the population. This in turn translates to the reduced bargaining power of the population and a decreased GDP contribution.
