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

Europe has the highest fleet of commercial aircrafts and the demand for new aircrafts 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 an increased demand for business jets. Thus, with the increasing demand for commercial and business jets, the requirement for different electric inserts in aircraft galleys is on the rise.

On the other hand, in the marine application segment, Europe has an increased demand for passenger vessels due to which the requirement for customized galley equipment has automatically risen.

Germany is one of the major end-users of galley equipment, globally, due to the rising demand for commercial aircraft and private jets, along with the rising capacity of naval and cruise ships. The prime drivers of the aviation galley equipment market in Germany are the rise in corporate profits and substantial economic recovery. These factors have contributed to the hike in demand for commercial aircraft and business jets. The rising fleet size of cruise ships, along with the modernization of defense surface vessels, is a major driver for the marine galley equipment market in Germany.

In 2014, the segment in France held a market share of 48.9% in the aviation galley equipment market and 69.0% in the marine galley equipment market in Europe. The demand for aviation galley equipment in the country is expected to rise due to the rising demand for business jets from emerging economies. The demand for marine galley equipment in France is expected to rise due to the rising demand for cruise ships, along with increasing requirement of ships by defense forces to chart Arctic waters.

In-depth profiling of the key players has 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 position in the European galley equipment market.

The major participants operating in the European galley equipment market are Zodiac Aerospace, Diehl Group, B/E Aerospace, Bucher Group, Loipart AB, and United Technologies Inc. Zodiac Aerospace held the largest market share of 37.0% in the European galley equipment market in 2014. A diversified product portfolio within galley equipment and better geographic coverage enabled Zodiac Aerospace to generate maximum revenues from the market in the European region. B/E Aerospace and Bucher Group followed Zodiac Aerospace, accounting for market shares of 21.0% and 15.0% respectively in 2014.

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