DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global In Flight Catering Services Market - Analysis of Growth, Trends Progress and Challenges (2017-2022)" report to their offering.
The In-flight catering services market is expected to grow at a CAGR of 5.06% and grow to a market size of USD 18 billion by the year 2021.
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 ten years worth of production. Even Boeing, which has fallen behind Airbus in recent times regarding orders bagged, has accumulated a backlog of more than 4000 planes of which 75% of the planes are the future 737 MAX aeroplanes.
This factor will limit the growth of the Aircraft Catering Services market, as the number of new planes coming into the market each year will be a limited amount and the rate of increase 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.
Primary 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 plane catering services market. Commercial Aviation is a highly competitive business, and carriers have to stay ahead of the game to retain market share continuously. 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 into this highly lucrative business and propel the market forward. The advent of online and mobile ordering systems will further move towards this space. Currently, the biggest problem in especially the small aisle aircraft is the severe lack of space, and due to that only, a limited number of standardized items can be served. But in jumbo jets like A380 and 747 where space is not a major constraint, a number of variations can be tried out.
Primary 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).
For more information about this report visit http://www.researchandmarkets.com/research/3v2tqc/global_in_flight