PUNE, India, March 15, 2016 /PRNewswire/ --
The report "Galley Equipment Market by Fit (Line Fit, Retro Fit), by Galley Type (Single Aisle, Twin Aisle, Business Aviation), by Galley Inserts (Electric Inserts and Non-Electric Inserts), by Application (Aviation, Marine), by Geography - Global Forecast 2020", published by MarketsandMarkets, The market is projected 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, 2015 to 2020.
Browse 186 Tables and 240 Figures spread through 320 Pages and in-depth TOC on "Galley Equipment Market".
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A number of factors, such as increasing demand for ship and aircraft, rise in demand for lightweight galley equipment, demand for galley customization as per customer's preferences, and increase in demand for modular galleys are expected to drive the growth of the galley equipment market.
Marine segment to dominate galley equipment market
Segmented on the basis of applications, the marine segment dominates the studied market and is expected to continue its dominance over the next five years. This growth is primarily driven by increasing number of marine shipments across the globe. Huge investment by countries, such as Russia, U.S., Japan, China and U.K. in developing their naval forces is also one of the key factors driving the marine galley equipment market. This spending includes addition of new marine vehicles, which have a direct impact on galley equipment demand.
Retro fit segment is expected to grow the highest during the forecast period
The global galley equipment market has been analyzed and segmented into two types of fits namely, retro fit and line fit. The retro fit segment dominates the overall galley equipment market, and is expected to exhibit a similar trend during the next five years. It is expected to dominate the market on account of replacement requirement for galley equipment in aircraft and ships.
Galley equipment market is expected to witness the highest growth in the Asia-Pacific region.
The Asia-Pacific region has been witnessing strong growth in the aviation and maritime industry over the past few years, mainly driven by increasing demand for new aircraft deliveries and rise in marine fleet in the region, which, in turn, is expected to boost the galley equipment market. This growth can be attributed to the increase in government spending in developing naval forces and increasing disposable of population in emerging countries, such as India and China.
Zodiac Aerospace (France): One of the key players in the galley equipment market
The report classifies the Galley Equipment Market based on application, insert type, galley type and fit. The market has been segmented based on fit into retro fit and line fit. The market is segmented further based on application, into aviation and marine. Based on the galley type, the market is segmented into single-aisle, twin-aisle and business general aviation. Based on insert type, the market is segmented into electric and non-electric.
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The major players in this market are B/E Aerospace (U.S.), JAMCO Corporation (Japan), and Diehl Stiftung & Co. KG (Germany), and Meili Marine (U.S.), among others.
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