Aviation Insurance Market : Global Opportunity Analysis and Industry Forecast, 2021–2030 At CAGR of 5.6%.

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Aviation insurance refers to indemnification of a client against losses arising from the result of damages, maintenance, or use of aircraft, and hangars at the airport.

The global aviation insurance market size was valued at $3,430.20 million in 2020, and is projected to reach $5,759.97 million by 2030, registering a CAGR of 5.6% from 2021 to 2030. 

By insurance type, the passenger liability insurance segment is expected to garner a significant aviation insurance market size during the forecast period, owing to stringent government regulations; making it compulsory to avail passenger liability insurance to protect damages to the passengers.

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Moreover, companies majorly focus on creating novel opportunities for growth and revenue generation, thereby increasing the preference for AI and advance machine learning algorithms across industries. However, the in-flight insurance segment is expected to witness growth at the highest rate during the forecast period, owing to increasing cases of airline accidents from various causes such as bird collision, bad weather, engine failure and other.

Top impacting factors

Rise in air passenger traffic

Rise in number of passengers opting for air travel mode has increased tremendously in the market. In addition, with this growing demand for airline services, emerging nations are developing and expanding their existing airport terminals.

Increase in government rules & regulations for passenger safety

With rise in travelers across the globe, various governments are introducing new regulations for aviation industry, which acts as a key driving factor for the global market.

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Key Benefits For Stakeholders     

  • The study provides an in-depth analysis of the aviation insurance market forecast along with the current trends and future estimations to explain the imminent investment pockets.
  • Information about key drivers, restraints, & opportunities and their impact analysis on the global aviation insurance market is provided in the report.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
  • The quantitative analysis of the market from 2021 to 2030 is provided to determine the aviation insurance market potential.

 Aviation Insurance Market Report Highlights

AspectsDetails
BY INSURANCE TYPEPublic liability insurancePassenger liability insuranceCombined Single LimitIn-flight InsuranceOthers
BY APPLICATIONCommercial Aviation InsuranceGeneral and Business Aviation InsuranceOthers
BY REGIONNorth America  (U.S., Canada)Europe  (UK, Germany, France, Italy, Spain, Rest of Europe)Asia-Pacific  (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)LAMEA  (Latin America, Middle East, Africa)
Key Market PlayersAmerican 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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