Aircraft Insurance Market was valued at USD 8.2 Billion in 2022 and is projected to reach USD 12.4 Billion by 2030, growing at a CAGR of 6.5% from 2024 to 2030.
The global aircraft insurance market was valued at approximately USD 20.5 billion in 2022 and is projected to experience a steady compound annual growth rate (CAGR) of around 4.2% from 2023 to 2030. The growth of the market is primarily driven by the increasing number of aircraft registrations worldwide, rising air travel demand, and the expansion of airline fleets. As of 2022, the market witnessed significant investments in enhancing insurance products and services to cater to evolving customer needs and regulatory changes. Additionally, the market is characterized by a growing focus on comprehensive risk management solutions and coverage plans tailored to address emerging risks associated with advanced aircraft technologies.
Emerging markets are expected to play a pivotal role in shaping the future of the aircraft insurance industry. With rapid economic growth and increasing aviation activities in regions such as Asia-Pacific and Latin America, these markets present substantial opportunities for insurance providers. The expansion of domestic and international flight networks, coupled with government support for aviation infrastructure development, is anticipated to drive market demand. Furthermore, the rising trend of aircraft leasing and charter services in these regions is likely to contribute to the overall market growth. Companies are expected to explore these emerging opportunities to expand their market presence and enhance their service offerings to meet the evolving needs of the global aviation sector.
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Allianz
Starr International
Marsh
AIG
Berkshire Hathaway
AXA
Chubb
Munich Re
Ace Aviation
Santam Insurance
Old Republic Aerospace
Inc (ORAE)
HCC Insurance
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Aircraft Insurance Market
Private Aircraft Insurance
Commercial Aviation Insurance
Others
Based on Types the Market is categorized into Below types that held the largest Aircraft Insurance market share In 2023.
Public Liability Insurance
Passenger Liability Insurance
Combined Single Limit (CSL)
Ground Risk Hull (Motion) Insurance
Ground Risk Hull (Non-Motion) Insurance
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Aircraft Insurance Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Aircraft Insurance Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Aircraft Insurance Market, By Type
6. Global Aircraft Insurance Market, By Application
7. Global Aircraft Insurance Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Aircraft Insurance Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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