Global Aviation Insurance Market Size Study, by Type (Passenger Liability Insurance, Public Liability Insurance, Combined Single Limit, In-Flight Insurance, Others), by Application, by Product Type, and Regional Forecasts 2022-2032

PUBLISHED: July 17, 2024

PAGES: 200 Pages

DELIVERY TIME: 2-3 business days

ADD TO COMPARE

SELECT AN OPTION

Description

The Global Aviation Insurance Market was valued at USD 4.35 billion in 2023 and growing at a CAGR of 6.01% from 2024-2032. This specialized sector within the insurance industry provides coverage for risks associated with aviation operations. It offers a wide range of insurance products and services tailored to the unique needs of aviation stakeholders, including aircraft owners, operators, manufacturers, airports, and service providers. Aviation insurance typically covers various aspects of aviation-related risks, including aircraft hull and liability insurance, passenger liability, aviation-related liabilities such as product liability and hangar keeper's liability, and in-flight insurance for passengers and crew members. These products are designed to protect against a diverse range of risks, including accidents, incidents, damage to aircraft or property, bodily injury, loss of life, and third-party liabilities. The aviation insurance market is characterized by its complexity and specialized nature, requiring insurers to have a deep understanding of aviation operations, regulatory requirements, and industry standards. Insurance underwriters assess risk factors such as aircraft type, usage, safety record, pilot experience, and geographic location to determine appropriate coverage and pricing for aviation insurance policies by aviation brokers.

The rise in air passenger traffic and the increase in government rules and regulations for passenger safety positively impact the growth of the market. However, factors such as costly aviation insurance premiums hamper market growth, while the increasing frequency and cost of claims limit market expansion. However, rising expenditure on international airlines is expected to offer remunerative opportunities for the market's expansion during the forecast period. The aviation insurance market is influenced by various factors, including trends in air travel, regulatory changes, technological advancements, safety standards, and emerging aviation risk management. As the aviation industry continues to evolve and expand globally, the demand for innovative and comprehensive insurance products and services in the aviation insurance market is expected to grow, creating opportunities for insurers to provide value-added solutions and support the evolving needs of aviation stakeholders.

North America attained the highest growth in 2023 and is expected to maintain its dominance during the forecast period, owing to strong domestic demand from the U.S., one of the largest domestic aviation markets in the world. This growth was also driven by several factors such as robust technological advancements, significant investments in research and development, and a strong consumer base eager to adopt new innovations. Therefore, North America achieved the highest growth rate among all regions, positioning itself as a leader in global markets. Furthermore, Asia-Pacific is expected to exhibit the highest growth during the forecast period, owing to economically emergent countries such as China and India, which have manufacturing plants of several industries in the Asia-Pacific region, contributing to the growth of the global market.

Major Market Players Included in This Report:

American International Group, Inc.
AXA
BWI Aviation Insurance
EAA
Global Aerospace, Inc.
Tokio Marine HCC
Travers & Associates Aviation Insurance Agency, LLC
STARR INTERNATIONAL COMPANY, INC.
USAA
USAIG
Allianz Global Corporate & Specialty SE
Avion Insurance
MARSH
Willis Towers Watson
Swiss Re

The Detailed Segments and Sub-Segment of the Market are Explained Below:

By Type:

Passenger Liability Insurance
Public Liability Insurance
Combined Single Limit (CSL)
In-Flight Insurance
Others

By Application:

Commercial Aviation Insurance
General and Business Aviation Insurance
Others

By Product Type:

Contingent
General Aviation
Space
Aerospace
Airlines

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
RoMEA

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global Aviation Insurance Market Executive Summary

1.1. Global Aviation Insurance Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Type
- 1.3.2. By Application
- 1.3.3. By Product Type
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Aviation Insurance Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Aviation Insurance Market Dynamics

3.1. Market Drivers
- 3.1.1. Rise in air passenger traffic
- 3.1.2. Increase in government regulations for passenger safety
3.2. Market Challenges
- 3.2.1. High cost of aviation insurance premiums
- 3.2.2. Increasing frequency and cost of claims
3.3. Market Opportunities
- 3.3.1. Rising expenditure on international airlines
- 3.3.2. Technological advancements in aviation insurance solutions

Chapter 4. Global Aviation Insurance Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunity
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Aviation Insurance Market Size & Forecasts by Type 2022-2032

5.1. Segment Dashboard
5.2. Global Aviation Insurance Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Passenger Liability Insurance
- 5.2.2. Public Liability Insurance
- 5.2.3. Combined Single Limit (CSL)
- 5.2.4. In-Flight Insurance
- 5.2.5. Others

Chapter 6. Global Aviation Insurance Market Size & Forecasts by Application 2022-2032

6.1. Segment Dashboard
6.2. Global Aviation Insurance Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Commercial Aviation Insurance
- 6.2.2. General and Business Aviation Insurance
- 6.2.3. Others

Chapter 7. Global Aviation Insurance Market Size & Forecasts by Product Type 2022-2032

7.1. Segment Dashboard
7.2. Global Aviation Insurance Market: Product Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. Contingent
- 7.2.2. General Aviation
- 7.2.3. Space
- 7.2.4. Aerospace
- 7.2.5. Airlines

Chapter 8. Global Aviation Insurance Market Size & Forecasts by Region 2022-2032

8.1. North America Aviation Insurance Market
- 8.1.1. U.S. Aviation Insurance Market
  - 8.1.1.1. Type breakdown size & forecasts, 2022-2032
  - 8.1.1.2. Application breakdown size & forecasts, 2022-2032
  - 8.1.1.3. Product Type breakdown size & forecasts, 2022-2032
- 8.1.2. Canada Aviation Insurance Market
  - 8.1.2.1. Type breakdown size & forecasts, 2022-2032
  - 8.1.2.2. Application breakdown size & forecasts, 2022-2032
  - 8.1.2.3. Product Type breakdown size & forecasts, 2022-2032
8.2. Europe Aviation Insurance Market
- 8.2.1. UK Aviation Insurance Market
  - 8.2.1.1. Type breakdown size & forecasts, 2022-2032
  - 8.2.1.2. Application breakdown size & forecasts, 2022-2032
  - 8.2.1.3. Product Type breakdown size & forecasts, 2022-2032
- 8.2.2. Germany Aviation Insurance Market
  - 8.2.2.1. Type breakdown size & forecasts, 2022-2032
  - 8.2.2.2. Application breakdown size & forecasts, 2022-2032
  - 8.2.2.3. Product Type breakdown size & forecasts, 2022-2032
- 8.2.3. France Aviation Insurance Market
  - 8.2.3.1. Type breakdown size & forecasts, 2022-2032
  - 8.2.3.2. Application breakdown size & forecasts, 2022-2032
  - 8.2.3.3. Product Type breakdown size & forecasts, 2022-2032
- 8.2.4. Spain Aviation Insurance Market
  - 8.2.4.1. Type breakdown size & forecasts, 2022-2032
  - 8.2.4.2. Application breakdown size & forecasts, 2022-2032
  - 8.2.4.3. Product Type breakdown size & forecasts, 2022-2032
- 8.2.5. Italy Aviation Insurance Market
  - 8.2.5.1. Type breakdown size & forecasts, 2022-2032
  - 8.2.5.2. Application breakdown size & forecasts, 2022-2032
  - 8.2.5.3. Product Type breakdown size & forecasts, 2022-2032
- 8.2.6. Rest of Europe Aviation Insurance Market
  - 8.2.6.1. Type breakdown size & forecasts, 2022-2032
  - 8.2.6.2. Application breakdown size & forecasts, 2022-2032
  - 8.2.6.3. Product Type breakdown size & forecasts, 2022-2032
8.3. Asia-Pacific Aviation Insurance Market
- 8.3.1. China Aviation Insurance Market
  - 8.3.1.1. Type breakdown size & forecasts, 2022-2032
  - 8.3.1.2. Application breakdown size & forecasts, 2022-2032
  - 8.3.1.3. Product Type breakdown size & forecasts, 2022-2032
- 8.3.2. India Aviation Insurance Market
  - 8.3.2.1. Type breakdown size & forecasts, 2022-2032
  - 8.3.2.2. Application breakdown size & forecasts, 2022-2032
  - 8.3.2.3. Product Type breakdown size & forecasts, 2022-2032
- 8.3.3. Japan Aviation Insurance Market
  - 8.3.3.1. Type breakdown size & forecasts, 2022-2032
  - 8.3.3.2. Application breakdown size & forecasts, 2022-2032
  - 8.3.3.3. Product Type breakdown size & forecasts, 2022-2032
- 8.3.4. Australia Aviation Insurance Market
  - 8.3.4.1. Type breakdown size & forecasts, 2022-2032
  - 8.3.4.2. Application breakdown size & forecasts, 2022-2032
  - 8.3.4.3. Product Type breakdown size & forecasts, 2022-2032
- 8.3.5. South Korea Aviation Insurance Market
  - 8.3.5.1. Type breakdown size & forecasts, 2022-2032
  - 8.3.5.2. Application breakdown size & forecasts, 2022-2032
  - 8.3.5.3. Product Type breakdown size & forecasts, 2022-2032
- 8.3.6. Rest of Asia Pacific Aviation Insurance Market
  - 8.3.6.1. Type breakdown size & forecasts, 2022-2032
  - 8.3.6.2. Application breakdown size & forecasts, 2022-2032
  - 8.3.6.3. Product Type breakdown size & forecasts, 2022-2032
8.4. Latin America Aviation Insurance Market
- 8.4.1. Brazil Aviation Insurance Market
  - 8.4.1.1. Type breakdown size & forecasts, 2022-2032
  - 8.4.1.2. Application breakdown size & forecasts, 2022-2032
  - 8.4.1.3. Product Type breakdown size & forecasts, 2022-2032
- 8.4.2. Mexico Aviation Insurance Market
  - 8.4.2.1. Type breakdown size & forecasts, 2022-2032
  - 8.4.2.2. Application breakdown size & forecasts, 2022-2032
  - 8.4.2.3. Product Type breakdown size & forecasts, 2022-2032
- 8.4.3. Rest of Latin America Aviation Insurance Market
  - 8.4.3.1. Type breakdown size & forecasts, 2022-2032
  - 8.4.3.2. Application breakdown size & forecasts, 2022-2032
  - 8.4.3.3. Product Type breakdown size & forecasts, 2022-2032
8.5. Middle East & Africa Aviation Insurance Market
- 8.5.1. Saudi Arabia Aviation Insurance Market
  - 8.5.1.1. Type breakdown size & forecasts, 2022-2032
  - 8.5.1.2. Application breakdown size & forecasts, 2022-2032
  - 8.5.1.3. Product Type breakdown size & forecasts, 2022-2032
- 8.5.2. South Africa Aviation Insurance Market
  - 8.5.2.1. Type breakdown size & forecasts, 2022-2032
  - 8.5.2.2. Application breakdown size & forecasts, 2022-2032
  - 8.5.2.3. Product Type breakdown size & forecasts, 2022-2032
- 8.5.3. Rest of Middle East & Africa Aviation Insurance Market
  - 8.5.3.1. Type breakdown size & forecasts, 2022-2032
  - 8.5.3.2. Application breakdown size & forecasts, 2022-2032
  - 8.5.3.3. Product Type breakdown size & forecasts, 2022-2032

Chapter 9. Competitive Intelligence

9.1. Key Company SWOT Analysis
9.2. Top Market Strategies
9.3. Company Profiles
- 9.3.1. American International Group, Inc.
  - 9.3.1.1. Key Information
  - 9.3.1.2. Overview
  - 9.3.1.3. Financial (Subject to Data Availability)
  - 9.3.1.4. Product Summary
  - 9.3.1.5. Market Strategies
- 9.3.2. AXA
- 9.3.3. BWI Aviation Insurance
- 9.3.4. EAA
- 9.3.5. Global Aerospace, Inc.
- 9.3.6. Tokio Marine HCC
- 9.3.7. Travers & Associates Aviation Insurance Agency, LLC
- 9.3.8. STARR INTERNATIONAL COMPANY, INC.
- 9.3.9. USAA
- 9.3.10. USAIG
- 9.3.11. Allianz Global Corporate & Specialty SE
- 9.3.12. Avion Insurance
- 9.3.13. MARSH
- 9.3.14. Willis Towers Watson
- 9.3.15. Swiss Re

Chapter 10. Research Process

10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
10.2. Research Attributes