The global aerospace insurance market is anticipated to grow at a considerable CAGR during the forecast period (2021-2027). The primary factor contributing to the growth of the market is the growing demand for the in-flight insurance compared to others, though it is the most expensive type of insurance. This insurance is done when airplane is crashed or not landed safely, then the airline company claim the amount from aerospace insurance company. For instance, in December 2021 a MiG-21, plane of Indian Air Force crashed in Rajasthan state. The plane crashed in the desert of Jaisalmer. In such incident airlines company claims the amount from insurance company which leads this industry to grow in recent year.
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In addition, owing to the rise in uncertainties of such incidents has propel the introduction of in-flight insurance globally. For instance, in July 2021, Rakesh Jhunjhunwala announced to set up new airlines in India within next three years by 2025. Due to COVID-19 pandemic airlines are struggling to get back in normal situation. Thus, by launching new airlines is expected to can support aerospace insurance to lead in the market during the forecast period. Countries including Italy, the UK, India, and others across the globe are planning to expand their aerospace insurance portfolio, catering to insure enormous aircrafts, airlines, and passengers. Growing demand of air traveling industry leads to construct more and more airport terminals, advances in technology and implementing modern services are major drivers which contribute to the growth of aerospace insurance industry.
Market Coverage
• The market number available for – 2020-2027
• Base year- 2020
• Forecast period- 2021-2027
• Segment Covered-
· By Type
· By End-User
• Regions Covered-
· North America
· Europe
· Asia-Pacific
· Rest of the World
• Competitive Landscape- including.
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Global Aerospace Insurance Market Report Segment
By Type
• Passenger Liability Insurance
• Public Liability Insurance
• In-Flight Insurance
• Others (Non-Motion and Motion Insurance)
By End-User
• Airport Operator
• Service Provider
• Others (BFSI)
Global Aerospace Insurance Report Segment by Region
North America
· United States
· Canada
Europe
· UK
· Germany
· Spain
· France
· Italy
· Rest of Europe
Asia-Pacific
· India
· China
· Japan
· South Korea
· Rest of APAC
Rest of the World
· Latin America
· Middle East & Africa
Company Profiles
· AIG Group
· Arthur J. Gallagher and Co.
· Assured Partners Inc.
· AXA XL
· Beazley Plc.
· Brown and Brown Inc.
· China Life Insurance Co. Ltd.
· Hallmark Financial Services Inc.
· HDI Global Speciality SE
· Global Aerospace
· ING Group
· Lockton Co.
· Malayan Insurance Co. Inc.
· Marsh Pvt Ltd.
· MySlipcase Ltd.
· Swiss Re Ltd.
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