Global Aviation Insurance Market to Exceed .24 Billion by 2027, Exhibiting a Steady CAGR of 5.2%

Aviation Insurance Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2027

The Business Research Company’s Aviation Insurance Global Market Report 2023 – Market Size, Trends, And Forecast 2023-2027

The aviation insurance market is expected to reach $5.24 billion in 2027 at a CAGR of 5.2%”

— The Business Research Company

LONDON, GREATER LONDON, UK, October 27, 2023 / — The global aviation insurance market, presently valued at $4.04 billion in 2022, is anticipated to reach $5.24 billion by 2027, demonstrating consistent growth at a compound annual growth rate (CAGR) of 5.2%. Despite the complex economic landscape due to the Russia-Ukraine conflict and the enduring effects of the COVID-19 pandemic, the market continues to expand steadily, driven by the growing air passenger traffic and the critical need to mitigate aviation risks through comprehensive insurance coverage.

Market Segments and Key Players
• Insurance Type: Public Liability Insurance, Passenger Liability Insurance, Ground Risk Hull Insurance Not-In-Motion, Ground Risk Hull Insurance In-Motion, Combined Single Limit, In-Flight Insurance
• Application: Commercial Aviation, Business And General Aviation
• End-User Industry: Service Providers, Airport Operators

Key industry players such as Allianz SE, AXA SA, and American International Group Inc. are leading the aviation insurance market, offering comprehensive insurance solutions to meet the evolving demands of the aviation industry and ensure robust risk management practices.

Gain valuable insights into the global aviation insurance market with a sample report:

Evolving Trend: Advancements in Aviation Insurance Solutions
The aviation insurance market is witnessing a notable trend of advancing aviation insurance solutions, with a focus on integrating digital platforms and tools to enhance operational efficiency and streamline insurance processes. Notably, the launch of Aviation IQ by HDI Global SE represents a significant innovation in the Canadian general aviation sector, enabling end-to-end digital automation of insurance contracts for small fixed-wing aircraft. This innovative platform provides brokers and aircraft owners with expedited access to policy documents, facilitating a seamless and cost-effective insurance experience for all stakeholders involved.

Strategic Acquisition Strengthens Market Presence and Expertise
Strategic acquisitions, such as Arthur J. Gallagher & Co.’s acquisition of Aviation Insurance Australia, underline the company’s commitment to expanding its global aviation insurance capabilities and strengthening its foothold in key markets. Through this acquisition, Arthur J. Gallagher & Co. aims to leverage Aviation Insurance Australia’s industry expertise and experienced team, driving growth and enhancing its position in the Australian aviation insurance landscape.

Geographical Insights: Asia-Pacific Dominates, Emerging as a Leading Market
Asia-Pacific emerged as the largest region in the aviation insurance market in 2022, with significant growth potential observed across the region. The comprehensive report offers in-depth insights into market dynamics and trends across key regions, providing valuable information on regional developments and growth prospects.

Access the complete report for detailed analysis and comprehensive insights into the global aviation insurance market:

Aviation Insurance Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Aviation Insurance Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on aviation insurance market size, aviation insurance market drivers and trends, aviation insurance market major players, aviation insurance market competitors’ revenues, aviation insurance market positioning, and global aviation insurance market growth across geographies. The aviation insurance market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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