Aircraft Insurance Market Scope
Aircraft insurance provides liability and property coverage for aircraft. Aircraft Insurance is in high demand due to claims or suits that generate from the ownership, maintenance, or in forms of commercial general liability. The private aircraft majorly need aircraft insurance to cover their aircraft liability loss exposure. The insurance includes physical damage, medical payments coverages. The type of amount of premium depends upon the in which purpose aircraft is being used. Few Insurance companies also offer insurance services for rented aircraft rather than owned.
The market study is being classified by Type (In-Flight Insurance, Ground Risk Hull (Non-Motion) Insurance, Ground Risk Hull (Motion) Insurance, Public Liability Insurance, Passenger Liability Insurance and Combined Single Limit), by Application (Rail Freight, Road Freight, Ocean Freight and Aviation Freight) and major geographies with country level break-up.
The market is fragmented by key vendors who are focusing on production technologies, improving efficiency and shelf life. Growth opportunities can be captured by tracking the ongoing process improvement and financial flexibility to invest in optimal strategies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Aircraft Insurance market throughout the predicted period.
ERGO Group (Germany), Avion Insurance (United States), Allianz (Germany), AXA XL (Bermuda), AssuredPartners Aerospace (United States), BankBazaar (India), Avemco Insurance Company (United States), QBE Insurance (Australia), Hayward Aviation (United Kingdom), Global Aerospace (England) and Travers & Associates Aviation Insurance Agency, LLC (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Aviation Insurance Resources (United States), USAA (United States), Falcon (United States), Berkley Aviation, Starr Aviation and Travelers Aviation.
AdvanceMarketAnalytics has segmented the market of Global Aircraft Insurance market by Type, Application and Region.
On the basis of geography, the market of Aircraft Insurance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Aircraft, the sub-segment i.e. Standard Aircraft will boost the Aircraft Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
In Jul 2019, ERGO International AG revealed that it sold four more group subsidiaries to the Euroins Insurance Group. These new sales are for life and non-life subsidiaries in Romania and the Czech Republic.
- Rising Passenger and Freight Traffic across the World
- Increasing Demand Safe Transfer of Goods and Cargo in Freighter Aircraft
- Increasing Air Traffic & Concerns to Enhance Operational Efficiency
- Rising Incidence of Terrorist Attacks
- Rising Investment in the Airline Sector by the Government
- Growing Airline Industry Globally
- Issue Related To Import/Export Trade and Tariff
- Issue Related To Hard Insurance Market Characteristics
Key Target AudienceVenture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Aircraft Insurance Service Providers, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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