LONDON, April 7, 2016 /PRNewswire/ -- "Increasing demand for modular galleys is driving the galley equipment market"
According to the projections in the report, the galley equipment market is estimated to grow from USD 5.17 billion in 2015 to USD 6.36 billion by 2020, at a CAGR of 4.21% during the forecast period from 2015 to 2020. Factors that drive the global galley equipment market include need for modular galleys, increasing aircraft deliveries and increasing demand for lightweight galleys. Significant growth in passenger traffic across the globe has resulted in increase in demand for commercial aircraft, which, in turn, influenced the demand for galley equipment positively.
"Aviation segment to witness the highest growth during the forecast period"
The key applications considered for the market study are aviation and marine. The aviation segment is projected to grow at a comparatively higher CAGR during the forecast period of 2015 to 2020. This growth is mainly driven by the increasing aircraft deliveries across APAC and ME regions. Galley equipment is mainly used in aircraft to serve fresh and healthy food to the passengers. The growth in aircraft deliveries, coupled with rising passenger traffic, is expected to drive the demand for aviation galley equipment over the forecast period.
"The Asia-Pacific region to offer significant opportunities for growth"
The APAC region is expected to witness the highest growth rate in the galley equipment market during the forecast period from 2015 to 2020. This growth in the galley equipment market can be attributed to new aircraft deliveries in the region. There is a significant rise in air passenger traffic in this region owing to growth in international tourism and increasing disposable income of individuals in developing countries, such as India and China.
Break-up of profile of primary participants for the report has been given below.
- By Company Type - Tier 1 – 35 %, Tier 2 – 45% and Tier 3 – 20%
- By Designation – C level – 35%, Director level – 25%, Others – 40%
- By Region – North America - 45%, Europe – 20%, APAC – 30%, RoW – 5%
The major companies profiled in the report include B/E Aerospace (U.S.), Zodiac Aerospace (France), JAMCO Corporation (Japan), and Diehl Stiftung & Co. KG (Germany), and Meili Marine (U.S.), among others.
Reasons to buy the report:
From an insight perspective, this research report has focused on various levels of analysis — industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the galley equipment market, high-growth regions, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on galley equipment offered by top players in the global galley equipment market
- Product Development/Innovation: Detailed insight on upcoming technologies, research and development activities, and new product launches in the galley equipment market
- Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for galley equipment across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global galley equipment market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the global galley equipment market
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