The growing fear of recession is estimated to decrease overall sales and revenue. A limited supply of parts coupled with a reduced workforce has forced the leading OEMs to shut down their production. A significant drop in demand has restricted the cash inflow which is highly important in payment of salaries to the workforce. With growing uncertainties around the COVID-19 pandemic, the industry leaders are taking measures to adapt to the situation.
The global sales of aerospace galley trolley and container market reached ~ 400,000 units in 2018, unveils the new research report on the aerospace galley trolley and container market by Persistence Market Research (PMR). According to the study, the aerospace galley trolley and container market is estimated to grow by ~ 5.4% CAGR in 2029. Rising consumers’ inclination towards the air travel in developing countries is expected to boost the aerospace galley trolley and container market.
According to the analysis, increasing aircraft fleet and rising passenger traffic is driving the growth of the air transport MRO market. This, in turn, is set to directly contribute to the growth of the aerospace galley trolley and container market.
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Furthermore, airline carriers are continually transforming the interiors of their airplane fleet to provide utmost luxury and comfort to their passengers without compromising on ticket prices, contributing to the build-up of the aerospace galley trolley and container market by 2029. The global aerospace galley trolley and container market reflected a value of ~US$ 3.4 Bn in 2018, and is projected to increase the aerospace galley trolley and container market valuation to ~US$ 5.4 Bn by the end of the 2029.
Increasing Air Travel Propelling the Demand for Aerospace Galley Trolley and Containers
According to the statistics provided by the International Air Transport Association (IATA), the number of passengers traveling by air worldwide exceeded four billion for the first time in 2017. Increasing disposable income, increasing affordability, and inclination towards traveling are some of the factors set to continue to drive the traffic growth and propel the demand for more aircraft. Furthermore, development in the tourism industry; growing worldwide travel; inexpensive air travel fares; and improving facilities provided during air travel are mainly contributing to the shifting of consumers’ preference towards air travel, which, in turn, propels the aerospace galley trolley and container market.
As per the PMR study, prominent players in the aerospace galley trolley and container market are offering a wide range of products with advanced characteristic properties, such as cold/refrigerated trolleys and lightweight containers. Moreover, the number of airlines that have invested comprehensively in new features, such as cabin trolleys, or Kevlar cargo containers, and lightweight seats like these have the added benefit of being durable and light in weight, which results in upsurging the aerospace galley trolley and container market.
Advanced Technology Enhancing the North America Aerospace Galley Trolley and Container Market
Smart electronic seals and locks associated with aerospace galley trolleys and containers are a significant advancement to the way how one can utilize and manage the trolley fleet. Concern for security has led the aviation industry to acclimatize to new containers and galley trolleys with smart locks, and this has become a dynamic factor in the aerospace galley trolley and container market. In addition, the excellence of onboard meal services depends heavily on a complex catering system consuming outbound stations. To offer consistent and excellent on-board meal services, refrigerated containers and galley trolleys must become a prominent choice for airlines.
Aerospace Galley Trolley and Container Market: Vendor Insights
PMR’s business analysis also highlights pioneering insights into the competitive scenario of the aerospace galley trolley and container market and differential strategies of prominent market players. Some key players in the market are Zodiac Aerospace, Jamco Corporation, Rockwell Collins, Inc., and Geven S.p.A., among others. Furthermore, several significant players of the aerospace galley trolley and container market are adopting various strategies related to the consumer demand, such as new product launches, noteworthy development in the R&D to enhance their product portfolio and upgrading their products in the aspect of technology.
Top Key Players:
- Zodiac Aerospace
- Jamco Corporation
- Rockwell Collins, Inc.
- Geven S.p.A.
- Korita Aviation
- Flightweight Ltd.
- Norduyn Inc.
- Bucher Group
- Trenchard Aviation Group Ltd
- Egret Aviation Co., Ltd
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For instance, in April 2016, Zodiac Aerospace introduced catering solutions for aircraft, called SmartLock, a touch-key based cabin equipment security system, and cold trolley, a food cart with innovative thermodynamics to keep beverages cold for a longer duration.
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