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Insights on the Aerospace Insurance Global Market to 2027: Increasing Number of Airports Around the World Drives Growth
Global Aerospace Insurance Market
Dublin, Jan. 27, 2023 (GLOBE NEWSWIRE) -- The "Aerospace Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global aerospace insurance market size reached US$ 810.9 Million in 2021. Looking forward, the publisher expects the market to reach US$ 994.4 Million by 2027, exhibiting a CAGR of 3.46% during 2021-2027.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Aerospace insurance includes various insurance policies for airlines, airports and their operations. It covers losses incurred from physical damage, third-party and passenger liability, war or terrorist activities and general liability coverage for cargo and passenger airlines.
It is specially designed for aviation service providers, airport operators, etc. The insurance provider levies a pre-decided premium at regular intervals from the aircraft owners that varies upon the size of the operations, air traffic data and the number of airlines using the airport services.
The thriving aviation industry, along with an increasing number of airports around the world is the key factor driving the growth of the market. In recent years, the number of passengers opting for air travel has increased substantially. In order to meet this surging demand, both the emerging and developing nations are modernizing and expanding their existing airport terminals as well as creating new ones.
Moreover, the development of smart airports that utilize various automated solutions such as self-check-in kiosks and automated baggage handling systems is also contributing to the market growth. Furthermore, with the growing need for aircraft fueling and group handling, aerospace product liabilities are likely to increase, thus catalyzing the demand for insurance services.
Apart from this, increasing space exploratory activities using drones, spaceships and aircraft is also favoring the market growth. Insurance buyers safeguard themselves and equipment against accidents and any damage caused by climatic changes, equipment failure and collisions. Besides this, the declining insurance premium rates are ensuring an increase in the number of policy takers, which is positively impacting the market growth.
The publisher's latest report provides a deep insight into the global aerospace insurance market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the aerospace insurance market in any manner.
Competitive Landscape:
The report has also analyzed the competitive landscape of the market with some of the key players being Allianz SE, American International Group Inc., Avion Insurance, Axa S.A., China Life Insurance (Overseas) Company Limited, Global Aerospace Inc., Hallmark Financial Services Inc., Hiscox Ltd., ING Group, Malayan Insurance, Marsh LLC, Old Republic Aerospace, Travers & Associates, Wells Fargo & Company, etc.
Key Questions Answered in This Report:
How has the global aerospace insurance market performed so far and how will it perform in the coming years?
What are the key regional markets in the global aerospace insurance industry?
What has been the impact of COVID-19 on the global aerospace insurance market?
What is the breakup of the market based on the type?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the global aerospace insurance industry?
What are the key driving factors and challenges in the global aerospace insurance industry?
What is the structure of the global aerospace insurance industry and who are the key players?
What is the degree of competition in the global aerospace insurance industry?
Report Attribute | Details |
No. of Pages | 105 |
Forecast Period | 2021 - 2027 |
Estimated Market Value (USD) in 2021 | $810.9 Million |
Forecasted Market Value (USD) by 2027 | $994.4 Million |
Compound Annual Growth Rate | 3.4% |
Regions Covered | Global |
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Aerospace Insurance Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Type
5.5 Market Breakup by Application
5.6 Market Breakup by Region
5.7 Market Forecast
6 Market Breakup by Type
6.1 Life Insurance
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Property Insurance
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Others
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Application
7.1 Service Providers
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Airport Operators
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Others
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Region
9 SWOT Analysis
10 Value Chain Analysis
11 Porter's Five Forces Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Key Players
12.3 Profiles of Key Players
12.3.1 Allianz SE
12.3.2 American International Group Inc.
12.3.3 Global Aerospace Inc.
12.3.4 Hallmark Financial Services Inc.
12.3.5 Marsh LLC
12.3.6 China Life Insurance (Overseas) Company Limited
12.3.7 Travers & Associates
12.3.8 Malayan Insurance
12.3.9 Axa S.A.
12.3.10 ING Group
12.3.11 Old Republic Aerospace
12.3.12 Hiscox Ltd.
12.3.13 Wells Fargo & Company
12.3.14 Avion Insurance
For more information about this report visit https://www.researchandmarkets.com/r/jh26mo
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