Aviation Insurance Market: Current Trends and Future Forecasts to Account for Imminent Investment Pockets.
Portland, Oregon, USA, USA, November 9, 2022 /EIN Presswire.com/ — Allied Market ResearchAviation insurance market insurance Type (public liability insurance, passenger liability insurance, combined single limit (CSL), in-flight insurance, other) and application (commercial insurance) aviationGeneral & Business Aviation and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030. It is expected to generate US dollars, witnessing a CAGR of 5.6% from 2021 to 2030.
Key determinants of growth
Increasing number of air passengers and increasing government rules and regulations regarding passenger safety are driving the growth of the global aviation insurance market. However, high aviation insurance premiums and increasing frequency and cost of claims hinder the market growth. On the other hand, the surge in the number of international airlines presents new opportunities in the coming years.
Passenger Liability Insurance segment maintains leadership position throughout forecast period
Based on insurance type, the passenger liability insurance segment is estimated to hold the highest market share in 2020, accounting for more than one-third of the global aviation insurance market, and maintain its leadership position throughout the forecast period. I’m here. This is due to increased concern for passenger safety and simple ways for organizations to keep their recruitment operations safe. However, the in-flight insurance segment is projected to exhibit the highest CAGR of 9.9% from 2021 to 2030, owing to increasing acceptance of aviation insurance and rising interest in aviation safety technology.
The commercial aviation insurance segment will maintain its leading position during the forecast period
Based on application, the commercial aviation insurance segment will account for the largest share in 2020, contributing to more than three-fifths of the global aviation insurance market and is projected to maintain its leading position during the forecast period. This is due to compensation for damage caused to the aircraft while it was at a particular airport. Moreover, the general and business aviation insurance segment is expected to portray the largest CAGR of 9.0% from 2021 to 2030, owing to diversification and improvement in aviation policies, including new types of aviation for aviation schools, instructors and skydivers. I’m here. , others.
Asia-Pacific, followed by North America, to maintain its dominance by 2030
Based on region, Asia-Pacific followed by North America held the highest market share in terms of revenue in 2020, accounting for almost one-third of the global aviation insurance market. Moreover, the same region is expected to see the fastest CAGR of 8.2% from 2021 to 2030. This is due to the growing adoption of aviation in the region and growing awareness of aviation insurance.
Key Benefits for Stakeholders
The study provides an in-depth analysis of forecasts for the aviation insurance market along with current trends and future projections to illustrate the impending investment pockets.
The report provides information on an analysis of key drivers, constraints, opportunities and their impact on the global aviation insurance market.
Porter’s Five Forces analysis shows the potential of buyers and suppliers operating in the industry.
A quantitative analysis of the market from 2021 to 2030 is provided to judge the potential of the aviation insurance market.
Aviation Insurance Market Report Highlights
By type of insurance
public liability insurance
Passenger Liability Insurance
combined single limit
civil aviation insurance
General and business aviation insurance
North America (USA, Canada)
Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
Asia Pacific (China, Japan, India, Australia, Korea, Rest of Asia Pacific)
LAMEA (Latin America, Middle East, Africa)
Key Market Players American International Group, Inc., AXA, BWI AVIATION INSURANCE, EXPERIMENTAL AIRCRAFT ASSOCIATION INC., Global Aerospace Services Inc., Tokio Marine Holdings, Inc., Travers & Associates Aviation Insurance Agency, LLC., STARR INTERNATIONAL COMPANY, INC. ., USAA, USAIG
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