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In-flight Catering Service Market Know in Detail about the Analysis, Forecasts, and Overview and Market Development




(I-TravelNewswire.Com, April 12, 2019 ) The global in-flight catering service market is experiencing a steady growth in the current scenario and is anticipated to rise in the coming years. The in-flight catering service market consists of some well-established players across the globe, which invest huge amounts in order to deliver the better quality foods & beverages to their customers. The airlines on the other hand, are procuring the increased number of aircrafts, to meet the growing air passengers across the globe, is also significantly driving the in-flight catering service market.

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Growth in the recent five years is primarily driven by two major factors, i.e. increase number of commercial air travel and partnership between airlines and hotels & chefs.

Rising Number of Air Passengers Globally
The pace of expansion of commercial aviation across the globe is significant in the recent times. The airlines in the developed countries as well as developing nations are ordering increased number of narrow body aircrafts, wide body aircrafts, business jets and regional jets in order to meet the constantly rising air travel demand. Owing to the continuously rising disposable income among the population in developing and developed regions across the globe, the demand for air travel is also increasing at similar pace. The commercial air traffic is anticipated to maintain a constant growth rate over the years, despite of different challenges such as rising aviation fuel costs, technical faults causing accidents and others. However, the barriers are succeeded by the increase in number of passengers across the globe. The low cost carriers (LCC) in the developed economies as well as developing economies are turning the revolution by offering low fare business models which is attracting the upper middle class and middle class society of developing nations. As per International Air Transport Association (IATA), the global commercial aviation passenger count in 2016 accounted for 3.8 Billion, and the same is expected to rise to 7.2 Billion by 2036.

Increasing Partnerships between Airlines and Hotels & Chefs
The global commercial aviation infrastructure has expanded significantly over the years, and in the current market, the industry is witnessing steep growth in terms of aircraft orders and deliveries. The growing number of aircraft deliveries to the commercial airlines is creating increased potential for in-flight catering service market. Various full service airlines and low cost carriers across the globe outsource several on-ground and on-board procedures and operations owing to implementation of cost cutting strategy. In-flight catering services is related to the viability of business models of both flagship carriers, and low cost carriers. Attributing to the fact that, on-board catering or on-board culinary services are one of the top priorities of the passengers while selecting the airlines, the carrier companies are partnering with top level hotels for outsourced catering services. Although the airlines are facing constant pressures on cost cutting, the quality of food and catering service remains highly important to the carriers, as the service directly contributes to the improved flight experience. This factor has raised the competition among the catering service providers, and the competition is expected to upsurge with the rise in competition among the airlines.

Strategic Insights
Few of the recent strategies by some of the players in in-flight catering service market landscape are listed below-

2018: SCK Services GmbH planned to integrate into Gate Gourmet Germany. The existing workforce was continued with the SCK Services GmbH and continued to serve its customers at all the four German airports. The acquisition aimed to strengthen the operations of Gategroup in Germany.

2018: NICFlying Food Group caters Ethiopian Airlines, three times a week direct service between O'Hare international Airport and Addis Ababa Bole International airport. In this new route, these direct flights are offered between Chicago and Africa.

2018: LSG Sky Chefs had prolonged its joint venture partnership in Luanda, Angola for extra three years. LSG Sky Chefs TAAG Angola Catering S.A. is a joint venture between LSG Sky Chefs, TAAG Angola Airlines, Angola Air Catering and Luanda Airport (ENANA), and it has been a success story since its launch in June 2012.

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The Insight Partners

Sameer Joshi

+1-646-491-9876

sam@theinsightpartners.com

Source: EmailWire.Com


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