Global In Flight Catering Services Market - Analysis of Growth, Trends Progress and Challenges (2015-2020)
The In-flight catering services market is expected to grow at a CAGR of 5.06% and grow to a market size of $ X.XX billion by the year 2020. The global aviation market is growing at a slow pace around the world. Airbus alone generated a backlog of 6,787 aircraft, which represents almost 10 years worth of production. Even Boeing, which has fallen behind Airbus in recent times in terms of orders bagged, has accumulated a backlog of more than 4000 planes of which 75% of the planes are the upcoming 737 MAX airplanes. This factor will limit the growth of the Aircraft Catering Services market, as the number of new airplanes coming into the market each year will be of a limited amount and the rate of growth of units sold will be almost constant up until 2020. Low Cost Carriers, which presently control 1/4th of the total airline market, will grow rapidly at the expense of full service carriers and is expected to hold close to 1/3rd of in-flight catering market share by 2020.
Major Income of the aircraft catering services comes from full service carriers and their slowing growth rates in comparison to the low cost carriers would limit the growth in the aircraft catering services market. Commercial Aviation is a highly competitive business and carriers have to continuously stay ahead of the game in order to retain market share. The expectations of passengers flying in full fare airlines rising and carriers will continue to invest higher amounts in the sector.
Many of the global food brands and chains may enter in this highly lucrative business and propel the market forward. Advent of online and mobile ordering systems will further move towards this space. Currently, the major problem in especially the narrow aisle aircraft is the severe lack of space, and due to that only, limited number of standardized items can be served. But in jumbo jets like A380 and 747 where space is not a major constraint, more number of variations can be tried out.
Major drivers of the global in-flight catering services market include the rising expectations of all the passengers irrespective of class of seating to want to have healthy nutritious food and growing number of flyers. In addition to that economy class passengers are now demanding to have high quality food, which is boosting in-flight catering services market.
Emirates Flight Catering Co, SATS Limited, LSG Sky chefs are some of the important players in the In Flight catering services market The global in-flight catering services market has been segmented by aircraft class, (Economy Class, Business Class, First Class, Others), by flight type (Full Service, Low Cost and Others), by food Type (Meals, Bakery & Confectionary, Beverages and Others), and by geography (North America, Latin America, Asia Pacific, Africa & Middle East and Europe).
What the report offers
Market analysis for the Global In-Flight Catering Services Market specific assessments and competition analysis on global and regional scales Market definition along with the identification of key drivers and restraints Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale Extensively researched competitive landscape section with profiles of major companies along with their market shares 5. Identification and analysis of the macro and micro factors that affect the In-flight Catering Services Market on both global and regional scales A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market Insights on the major countries in which this industry is blooming and to also identify the regions that are still untapped
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