Scope of the Study
The global property & casualty insurance for aerospace & defense sector market is expected to grow at a healthy pace during the forecast period, according to the AMA study. The growing commercial aircraft production & deliveries due to rising passenger traffic and the growing adoption of new technologies in the defense sector such as UAVs are expected to be major factors driving the market globally.
The market study is being classified by Type (Property Insurance and Casualty Insurance), by Application (Rented Aircraft and Owned Aircraft) and major geographies with country level break-up.
Allianz (Germany), AXA SA (France), American International Group, Inc. (United States), Munich Re (Germany), Gallagher (United Kingdom), U.S. Aerospace Defense Group (United States), Chubb (United States), Berkshire Hathaway, Inc. (United States), Cravens Warren Commercial Insurance (United States), Liberty Specialty Markets (United Kingdom) and Global Aerospace, Inc. (United Kingdom) are some of the key players profiled in the study.
The vendors in this market are majorly focusing on development of cost effective insurance products & services to cater to market's demand to remain competitive in the global market. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Property and Casualty Insurance for Aerospace & Defense market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Property and Casualty Insurance for Aerospace & Defense market by Type, Application and Region.
On the basis of geography, the market of Property and Casualty Insurance for Aerospace & Defense 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising Commercial Aircraft Production & Deliveries Due to the Growing Worldwide Passenger Traffic
- Growing Adoption of Military UAVs Generating the Demand for Insurance Coverages
- The property insurance are now made to compensate an insured for the financial impact of the interruption/interference to that business as a result of physical damage to insured property or other key external events, such as damage at a supplier’s or customer’s premises.
- Expected Deliveries of More than 38,000 Commercial Aircraft Across the World During the Next 20 Years
- The Outbreak of COVID-19 Leading to Challenges for Aviation Insurance Vendors Due to Cancellation of Numerous Flights Around the World for an Uncertain Period of Time
Market Leaders and their expansionary development strategies
In June 2019, Gallagher announced that it has Jardine Lloyd Thompson Group plc’s (JLT) global aerospace operations.
In November 2019, Chubb announced that it has agreed to purchase an additional 15.3% of Huatai Insurance Group Company Limited which will increase Chubb's share to 46.2% of ownership.
Customization in the Report Available:The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be informed prior purchase