The global aerospace insurance market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 5.4% during 2021-2026. 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 industries. 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.
IMARC Group’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.
Report Coverage:
- Historical, Current and Future Market Trends
- Market Breakup by Type:
- Life Insurance
- Property Insurance
- Others
- Market Breakup by Application:
- Service Providers
- Airport Operators
- Others
- Market Breakup by Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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, Global Aerospace, Hallmark Financial Services Inc., Marsh Inc, China Life Insurance Company, Travers Aviation, Malayan Insurance, AXA, ING Group, Old Republic Aerospace, Hiscox Group, Wells Fargo, Avion Insurance, 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?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting 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
8.1 North America
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Europe
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Asia Pacific
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Middle East and Africa
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Latin America
8.5.1 Market Trends
8.5.2 Market Forecast
9 SWOT Analysis
9.1 Overview
9.2 Strengths
9.3 Weaknesses
9.4 Opportunities
9.5 Threats
10 Value Chain Analysis
11 Porter’s Five Forces Analysis
11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes
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
12.3.3 Global Aerospace
12.3.4 Hallmark Financial Services Inc.
12.3.5 Marsh Inc
12.3.6 China Life Insurance Company
12.3.7 Travers Aviation
12.3.8 Malayan Insurance
12.3.9 AXA
12.3.10 ING Group
12.3.11 Old Republic Aerospace
12.3.12 Hiscox Group
12.3.13 Wells Fargo
12.3.14 Avion Insurance
List of Figures
Figure 1: Global: Aerospace Insurance Market: Major Drivers and Challenges
Figure 2: Global: Aerospace Insurance Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: Aerospace Insurance Market: Breakup by Type (in %), 2020
Figure 4: Global: Aerospace Insurance Market: Breakup by Application (in %), 2020
Figure 5: Global: Aerospace Insurance Market: Breakup by Region (in %), 2020
Figure 6: Global: Aerospace Insurance Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 7: Global: Aerospace Insurance Industry: SWOT Analysis
Figure 8: Global: Aerospace Insurance Industry: Value Chain Analysis
Figure 9: Global: Aerospace Insurance Industry: Porter’s Five Forces Analysis
Figure 10: Global: Aerospace Insurance (Life Insurance) Market: Sales Value (in Million US$), 2015 & 2020
Figure 11: Global: Aerospace Insurance (Life Insurance) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 12: Global: Aerospace Insurance (Property Insurance) Market: Sales Value (in Million US$), 2015 & 2020
Figure 13: Global: Aerospace Insurance (Property Insurance) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 14: Global: Aerospace Insurance (Other Types) Market: Sales Value (in Million US$), 2015 & 2020
Figure 15: Global: Aerospace Insurance (Other Types) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 16: Global: Aerospace Insurance (Service Providers) Market: Sales Value (in Million US$), 2015 & 2020
Figure 17: Global: Aerospace Insurance (Service Providers) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 18: Global: Aerospace Insurance (Airport Operators) Market: Sales Value (in Million US$), 2015 & 2020
Figure 19: Global: Aerospace Insurance (Airport Operators) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 20: Global: Aerospace Insurance (Other Applications) Market: Sales Value (in Million US$), 2015 & 2020
Figure 21: Global: Aerospace Insurance (Other Applications) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 22: North America: Aerospace Insurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 23: North America: Aerospace Insurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 24: Europe: Aerospace Insurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 25: Europe: Aerospace Insurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 26: Asia Pacific: Aerospace Insurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 27: Asia Pacific: Aerospace Insurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 28: Middle East and Africa: Aerospace Insurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 29: Middle East and Africa: Aerospace Insurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 30: Latin America: Aerospace Insurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 31: Latin America: Aerospace Insurance Market Forecast: Sales Value (in Million US$), 2021-2026
List of Tables
Table 1: Global: Aerospace Insurance Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Aerospace Insurance Market Forecast: Breakup by Type (in Million US$), 2021-2026
Table 3: Global: Aerospace Insurance Market Forecast: Breakup by Application (in Million US$), 2021-2026
Table 4: Global: Aerospace Insurance Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 5: Global: Aerospace Insurance Market Structure
Table 6: Global: Aerospace Insurance Market: Key Players