The Increasing Number of Contracts and Expansions has Helped in Accelerating the Growth of the Galley Equipment Market in North America

Wednesday 20 May 2015, Amsterdam

$ North America has the highest fleet of commercial aircraft and the demand for new aircraft is on the rise in this region. Also, the region constitutes the largest number of business jets in the world and, after the global economic downturn of 2007,; the region has witnessed a significant rise in corporate profits, which led to increased demand for business jets. Thus, with increasing demand for commercial and business jets, the requirement of different electric inserts in aircraft galleys is on the rise.
On the other hand, for marine segment, the Cruise Lines International Association (CLIA) estimated 17.6 million member cruise line passengers in 2013 in North America. The cruise industry enjoyed systematic growth in the past and, with more passengers opting for cruise travel in the region, new cruise ships with increased capacities are expected to be delivered in the future. Owing to the rising capacity of cruise ships, the market for marine galley equipment is expected to grow considerably by 2019.
The U.S. is one of the major end-users of galley equipment across the world due to rising demand for commercial and private jets, and the rising capacity of naval and cruise ships. The prime drivers of the aviation galley equipment market in the U.S. are rise in corporate profits and substantial economic recovery. These factors have contributed to the hike in demand for commercial aircraft and business jets. The major driver of the marine galley equipment market in the U.S. is the rising fleet size of cruise ships, along with modernization of defense surface vessels.
In 2014, Canada held 11.35% of the market share in the marine galley equipment and 4.15% in the aviation galley equipment market in North America. The demand for aviation galley equipment in the country is expected to rise due to rising demand for business jets from emerging economies. The demand for marine galley equipment in Canada is also expected to rise due to the rising demand for cruise ships and increasing requirement of ships by defense forces to chart Arctic waters.
In-depth profiling of the key players have been conducted in this market analysis, along with the recent developments (including business expansions, agreements, collaborations, and joint ventures) and strategies adopted by the players to sustain and strengthen their positions in the North America galley equipment market.
The major participants operating in the North America galley equipment market are Zodiac Aerospace, Diehl Group, B/E Aerospace (U.S.), Bucher Group, Loipart AB (U.S.), JAMCO Corporation, and United Technologies, Inc. In 2013, Zodiac Aerospace held the largest market share in the North America galley equipment market accounting for 25% of the total galley market share. Diversified product portfolio within galley equipment and better geographic coverage enabled Zodiac Aerospace to generate maximum revenues from the market in North America. B/E Aerospace and Bucher Group followed Zodiac Aerospace, accounting for 20% and 11% of the market share respectively in 2013.