Latest News- Aerospace Insurance Market: Service providers is expected to lead the End-user segment during 2025-2029

The Aerospace Insurance Market is being driven by Expansion and construction of new airports

The Aerospace Insurance Market is expected to grow at a CAGR of 5.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 1056.1 million. The commercial aviation industry faces numerous challenges, including prolonged security checks, frequent flight cancellations, and extended delays. These issues, compounded by the FAA's safety concerns surrounding new aircraft like the Boeing 787 Dreamliner, have led to passenger dissatisfaction and a shift towards non-airline aviation services. Corporate travelers increasingly opt for charter flights, which are often insured, thereby driving growth in the aerospace insurance market. Post-9/11, this trend has gained momentum, with business travelers seeking more reliable and secure alternatives to commercial airlines. 

Get more information on Aerospace Insurance Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Service providers
  • Airport operators
  • Others
• Type
  • In-flight insurance
  • Public liability insurance
  • Passenger liability insurance
  • Others
• Application
  • Commercial aviation insurance
  • General and business aviation insurance
  • Others
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Expansion and construction of new airports
• Increase in air passenger traffic
• Expansion of existing fleet and launch of new airlines

However, the market also witnesses some limitations, which are as follows:

• Growing risk of accidents in aviation industry
• Volatile and uncertain market conditions in aviation industry
• Lack of awareness and delayed aerospace insurance services

Benefits of Buying Global Aerospace Insurance Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Aerospace Insurance Market Research Report

Request Free Sample

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Aerospace Insurance Market encompasses various types of coverage, including Aerospace Liability and Aviation Liability Insurance for accidents causing harm to third parties. Hull Insurance and Aircraft Insurance protect against property damage to aircraft, while Space Insurance and Satellite Insurance secure assets in space. Private Aviation Insurance covers individual aviation risks, and War Risk Insurance addresses potential conflicts. Passenger Liability Insurance, Airport Liability Insurance, Hangar Keeper's Insurance, and Ground Risk Insurance offer protection against various risks. In-Flight Insurance, Spacecraft Insurance, Launch Insurance, Pre-launch Insurance, and Post-launch Insurance cater to specific aerospace needs. Aviation Underwriters and Aerospace Risk Management firms oversee these policies, addressing concerns such as Aircraft Hull Loss, Ground Damage Coverage, and Public Liability. Premium levels vary for Airline Operators, Charter Flights, Business Jets, and Non-airline Services. Aircraft Manufacturers and Leasing Companies also require coverage for Property Damage and Personal Injury. Safety concerns and Airport Expansion projects further influence the market.

Market Research Overview

The aerospace and defense industry comprises companies and products involved in the manufacturing and provision of commercial and general aviation aircraft, defense platforms for naval, land, and air applications, arms and ammunition, defense electronics, logistics equipment, and space platforms, equipment, and launch vehicles. Additionally, maintenance, repair, and overhaul (MRO) services for both commercial and defense sectors are included in this market. According to Technavio, the global capital goods market size is determined by the consolidated revenue generated by industry participants in sectors such as aerospace and defense, building and construction, electrical equipment, industrial conglomerates, machinery, trading companies, and distributors.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/