Wednesday, February 1, 2017

Galley Equipment Market worth 6.36 Billion USD by 2020

This latest research of "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", is projected to reach USD 6.36 Billion by 2020, at a CAGR of 4.21%. Download detail reprot here:

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.

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.

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.

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.

Factors such as delay in shipment deliveries may lead to order cancellation of aircraft and the increasing demand for low cost carriers may inhibit the growth of the galley equipment market. 

Countries such as Russia, U.S., Japan, China and U.K. are spending huge amount on developing their naval forces. This spending includes addition of new marine vehicles. Increasing government spending on development of naval forces is further expected to drive the galley equipment application in the defense sector.

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