The Global Aviation Insurance Market Size is estimated to register 6.2% growth over the forecast period from 2023 to 2030.
The market growth is driven by increasing Emerging Risks, Digital Transformation, Cybersecurity, Regulatory Changes, Weather, and Climate Risks, Leading Companies focusing on, and others to boost market shares in the industry.
The aviation insurance market is a global industry that provides coverage for risks associated with aviation and aerospace activities, including commercial airlines, general aviation, cargo carriers, and space travel. It encompasses various coverage types such as hull insurance, liability insurance, passenger liability, cargo insurance, and war risk insurance. Major players in the market include AIG, Allianz, Chubb, and Global Aerospace. Market growth is driven by factors like economic conditions and technological advancements, but it also faces challenges related to pricing volatility and the need to adapt to emerging risks and regulatory changes. Opportunities lie in the use of technology for efficient processes and the growing focus on sustainability and expanding markets in emerging economies.
Climate change and extreme weather events are substantially increasing the costs of aviation insurance. As weather patterns become more erratic and severe, the aviation industry faces higher risks, resulting in expensive disruptions, delays, and damage. This elevated risk is driving up insurance claims and expenses. In response, insurance providers are emphasizing the need for comprehensive weather-related coverage to protect aviation businesses from the financial impact of climate-related incidents. This shift towards more resilient and sustainable practices is expected to gain momentum in the aviation insurance sector.
The rising demand for air travel is a primary driver of the aviation insurance market, given the higher frequency of flights and the increased risk of accidents and liabilities. As a result, airlines, aircraft operators, and other aviation stakeholders are seeking tailored insurance coverage to protect against these risks, contributing to the market's growth and underscoring the strong link between the expansion of air travel and the demand for aviation insurance.
Market Opportunity- Aircraft values increasing, driving aviation insurance premiums up.
Escalating aircraft values is leading to a surge in aviation insurance premiums, driven by the heightened costs of repairing or replacing high-value aircraft in the event of accidents or losses. This trend underscores the strong link between aircraft valuations and the need for insurance adjustments to adequately cover the increased financial exposure associated with these valuable assets in the aviation insurance market.
The Global Aviation Insurance Market is analyzed across Public Liability Insurance, Passenger Liability Insurance, Combined Single Limit, In Flight Insurance, and others. Passenger Liability Insurance is poised to register the fastest growth. Passenger Liability Insurance is a vital component of the Aviation Insurance Market, offering coverage for passenger and third-party injuries during air travel, protecting airlines from legal liabilities and medical costs resulting from incidents on board, and ensuring overall safety and financial stability in the aviation industry.
The Global Aviation Insurance Market is analyzed across various applications including General and Business Aviation, Commercial Aviation, and others. Of these, Commercial Aviation held a significant market share in 2023. Commercial Aviation is a vital segment within the Aviation Insurance Market, catering to the insurance needs of commercial airlines, including passenger and cargo carriers. It offers coverage for a range of risks, including liability, aircraft damage, passenger injuries, and cargo loss, serving to mitigate financial risks and legal liabilities associated with accidents and operational disruptions, thereby ensuring the stability and safety of the airline industry, and safeguarding passengers and cargo during travel.
Aviation Insurance Market Segmentation
By Type
By Application
By End User
By Region
*List not exhaustive
Aviation Insurance Market Outlook 2023
1 Market Overview
1.1 Introduction to the Aviation Insurance Market
1.2 Scope of the Study
1.3 Research Objective
1.3.1 Key Market Scope and Segments
1.3.2 Players Covered
1.3.3 Years Considered
2 Executive Summary
2.1 2023 Aviation Insurance Industry- Market Statistics
3 Market Dynamics
3.1 Market Drivers
3.2 Market Challenges
3.3 Market Opportunities
3.4 Market Trends
4 Market Factor Analysis
4.1 Porter’s Five Forces
4.2 Market Entropy
4.2.1 Global Aviation Insurance Market Companies with Area Served
4.2.2 Products Offerings Global Aviation Insurance Market
5 COVID-19 Impact Analysis and Outlook Scenarios
5.1.1 Covid-19 Impact Analysis
5.1.2 post-COVID-19 Scenario- Low Growth Case
5.1.3 post-COVID-19 Scenario- Reference Growth Case
5.1.4 post-COVID-19 Scenario- Low Growth Case
6 Global Aviation Insurance Market Trends
6.1 Global Aviation Insurance Revenue (USD Million) and CAGR (%) by Type (2018-2030)
6.2 Global Aviation Insurance Revenue (USD Million) and CAGR (%) by Applications (2018-2030)
6.3 Global Aviation Insurance Revenue (USD Million) and CAGR (%) by regions (2018-2030)
7 Global Aviation Insurance Market Revenue (USD Million) by Type, and Applications (2018-2022)
7.1 Global Aviation Insurance Revenue (USD Million) by Type (2018-2022)
7.1.1 Global Aviation Insurance Revenue (USD Million), Market Share (%) by Type (2018-2022)
7.2 Global Aviation Insurance Revenue (USD Million) by Applications (2018-2022)
7.2.1 Global Aviation Insurance Revenue (USD Million), Market Share (%) by Applications (2018-2022)
8 Global Aviation Insurance Development Regional Status and Outlook
8.1 Global Aviation Insurance Revenue (USD Million) By Regions (2018-2022)
8.2 North America Aviation Insurance Revenue (USD Million) by Type, and Application (2018-2022)
8.2.1 North America Aviation Insurance Revenue (USD Million) by Country (2018-2022)
8.2.2 North America Aviation Insurance Revenue (USD Million) by Type (2018-2022)
8.2.3 North America Aviation Insurance Revenue (USD Million) by Applications (2018-2022)
8.3 Europe Aviation Insurance Revenue (USD Million), by Type, and Applications (USD Million) (2018-2022)
8.3.1 Europe Aviation Insurance Revenue (USD Million), by Country (2018-2022)
8.3.2 Europe Aviation Insurance Revenue (USD Million) by Type (2018-2022)
8.3.3 Europe Aviation Insurance Revenue (USD Million) by Applications (2018-2022)
8.4 Asia Pacific Aviation Insurance Revenue (USD Million), and Revenue (USD Million) by Type, and Applications (2018-2022)
8.4.1 Asia Pacific Aviation Insurance Revenue (USD Million) by Country (2018-2022)
8.4.2 Asia Pacific Aviation Insurance Revenue (USD Million) by Type (2018-2022)
8.4.3 Asia Pacific Aviation Insurance Revenue (USD Million) by Applications (2018-2022)
8.5 South America Aviation Insurance Revenue (USD Million), by Type, and Applications (2018-2022)
8.5.1 South America Aviation Insurance Revenue (USD Million), by Country (2018-2022)
8.5.2 South America Aviation Insurance Revenue (USD Million) by Type (2018-2022)
8.5.3 South America Aviation Insurance Revenue (USD Million) by Applications (2018-2022)
8.6 Middle East and Africa Aviation Insurance Revenue (USD Million), by Type, Technology, Application, Thickness (2018-2022)
8.6.1 Middle East and Africa Aviation Insurance Revenue (USD Million) by Country (2018-2022)
8.6.2 Middle East and Africa Aviation Insurance Revenue (USD Million) by Type (2018-2022)
8.6.3 Middle East and Africa Aviation Insurance Revenue (USD Million) by Applications (2018-2022)
9 Company Profiles
10 Global Aviation Insurance Market Revenue (USD Million), by Type, and Applications (2023-2030)
10.1 Global Aviation Insurance Revenue (USD Million) and Market Share (%) by Type (2023-2030)
10.1.1 Global Aviation Insurance Revenue (USD Million), and Market Share (%) by Type (2023-2030)
10.2 Global Aviation Insurance Revenue (USD Million) and Market Share (%) by Applications (2023-2030)
10.2.1 Global Aviation Insurance Revenue (USD Million), and Market Share (%) by Applications (2023-2030)
11 Global Aviation Insurance Development Regional Status and Outlook Forecast
11.1 Global Aviation Insurance Revenue (USD Million) By Regions (2023-2030)
11.2 North America Aviation Insurance Revenue (USD Million) by Type, and Applications (2023-2030)
11.2.1 North America Aviation Insurance Revenue (USD) Million by Country (2023-2030)
11.2.2 North America Aviation Insurance Revenue (USD Million), by Type (2023-2030)
11.2.3 North America Aviation Insurance Revenue (USD Million), Market Share (%) by Applications (2023-2030)
11.3 Europe Aviation Insurance Revenue (USD Million), by Type, and Applications (2023-2030)
11.3.1 Europe Aviation Insurance Revenue (USD Million), by Country (2023-2030)
11.3.2 Europe Aviation Insurance Revenue (USD Million), by Type (2023-2030)
11.3.3 Europe Aviation Insurance Revenue (USD Million), by Applications (2023-2030)
11.4 Asia Pacific Aviation Insurance Revenue (USD Million) by Type, and Applications (2023-2030)
11.4.1 Asia Pacific Aviation Insurance Revenue (USD Million), by Country (2023-2030)
11.4.2 Asia Pacific Aviation Insurance Revenue (USD Million), by Type (2023-2030)
11.4.3 Asia Pacific Aviation Insurance Revenue (USD Million), by Applications (2023-2030)
11.5 South America Aviation Insurance Revenue (USD Million), by Type, and Applications (2023-2030)
11.5.1 South America Aviation Insurance Revenue (USD Million), by Country (2023-2030)
11.5.2 South America Aviation Insurance Revenue (USD Million), by Type (2023-2030)
11.5.3 South America Aviation Insurance Revenue (USD Million), by Applications (2023-2030)
11.6 Middle East and Africa Aviation Insurance Revenue (USD Million), by Type, and Applications (2023-2030)
11.6.1 Middle East and Africa Aviation Insurance Revenue (USD Million), by region (2023-2030)
11.6.2 Middle East and Africa Aviation Insurance Revenue (USD Million), by Type (2023-2030)
11.6.3 Middle East and Africa Aviation Insurance Revenue (USD Million), by Applications (2023-2030)
12 Methodology and Data Sources
12.1 Methodology/Research Approach
12.1.1 Research Programs/Design
12.1.2 Market Size Estimation
12.1.3 Market Breakdown and Data Triangulation
12.2 Data Sources
12.2.1 Secondary Sources
12.2.2 Primary Sources
12.3 Disclaimer
List of Tables
Table 1 Market Segmentation Analysis
Table 2 Global Aviation Insurance Market Companies with Areas Served
Table 3 Products Offerings Global Aviation Insurance Market
Table 4 Low Growth Scenario Forecasts
Table 5 Reference Case Growth Scenario
Table 6 High Growth Case Scenario
Table 7 Global Aviation Insurance Revenue (USD Million) And CAGR (%) By Type (2018-2030)
Table 8 Global Aviation Insurance Revenue (USD Million) And CAGR (%) By Applications (2018-2030)
Table 9 Global Aviation Insurance Revenue (USD Million) And CAGR (%) By Regions (2018-2030)
Table 10 Global Aviation Insurance Revenue (USD Million) By Type (2018-2022)
Table 11 Global Aviation Insurance Revenue Market Share (%) By Type (2018-2022)
Table 12 Global Aviation Insurance Revenue (USD Million) By Applications (2018-2022)
Table 13 Global Aviation Insurance Revenue Market Share (%) By Applications (2018-2022)
Table 14 Global Aviation Insurance Market Revenue (USD Million) By Regions (2018-2022)
Table 15 Global Aviation Insurance Market Share (%) By Regions (2018-2022)
Table 16 North America Aviation Insurance Revenue (USD Million) By Country (2018-2022)
Table 17 North America Aviation Insurance Revenue (USD Million) By Type (2018-2022)
Table 18 North America Aviation Insurance Revenue (USD Million) By Applications (2018-2022)
Table 19 Europe Aviation Insurance Revenue (USD Million) By Country (2018-2022)
Table 20 Europe Aviation Insurance Revenue (USD Million) By Type (2018-2022)
Table 21 Europe Aviation Insurance Revenue (USD Million) By Applications (2018-2022)
Table 22 Asia Pacific Aviation Insurance Revenue (USD Million) By Country (2018-2022)
Table 23 Asia Pacific Aviation Insurance Revenue (USD Million) By Type (2018-2022)
Table 24 Asia Pacific Aviation Insurance Revenue (USD Million) By Applications (2018-2022)
Table 25 South America Aviation Insurance Revenue (USD Million) By Country (2018-2022)
Table 26 South America Aviation Insurance Revenue (USD Million) By Type (2018-2022)
Table 27 South America Aviation Insurance Revenue (USD Million) By Applications (2018-2022)
Table 28 Middle East and Africa Aviation Insurance Revenue (USD Million) By Region (2018-2022)
Table 29 Middle East and Africa Aviation Insurance Revenue (USD Million) By Type (2018-2022)
Table 30 Middle East and Africa Aviation Insurance Revenue (USD Million) By Applications (2018-2022)
Table 31 Financial Analysis
Table 32 Global Aviation Insurance Revenue (USD Million) By Type (2023-2030)
Table 33 Global Aviation Insurance Revenue Market Share (%) By Type (2023-2030)
Table 34 Global Aviation Insurance Revenue (USD Million) By Applications (2023-2030)
Table 35 Global Aviation Insurance Revenue Market Share (%) By Applications (2023-2030)
Table 36 Global Aviation Insurance Market Revenue (USD Million), And Revenue (USD Million) By Regions (2023-2030)
Table 37 North America Aviation Insurance Revenue (USD)By Country (2023-2030)
Table 38 North America Aviation Insurance Revenue (USD Million) By Type (2023-2030)
Table 39 North America Aviation Insurance Revenue (USD Million) By Applications (2023-2030)
Table 40 Europe Aviation Insurance Revenue (USD Million) By Country (2023-2030)
Table 41 Europe Aviation Insurance Revenue (USD Million) By Type (2023-2030)
Table 42 Europe Aviation Insurance Revenue (USD Million) By Applications (2023-2030)
Table 43 Asia Pacific Aviation Insurance Revenue (USD Million) By Country (2023-2030)
Table 44 Asia Pacific Aviation Insurance Revenue (USD Million) By Type (2023-2030)
Table 45 Asia Pacific Aviation Insurance Revenue (USD Million) By Applications (2023-2030)
Table 46 South America Aviation Insurance Revenue (USD Million) By Country (2023-2030)
Table 47 South America Aviation Insurance Revenue (USD Million) By Type (2023-2030)
Table 48 South America Aviation Insurance Revenue (USD Million) By Applications (2023-2030)
Table 49 Middle East and Africa Aviation Insurance Revenue (USD Million) By Region (2023-2030)
Table 50 Middle East and Africa Aviation Insurance Revenue (USD Million) By Region (2023-2030)
Table 51 Middle East and Africa Aviation Insurance Revenue (USD Million) By Type (2023-2030)
Table 52 Middle East and Africa Aviation Insurance Revenue (USD Million) By Applications (2023-2030)
Table 53 Research Programs/Design for This Report
Table 54 Key Data Information from Secondary Sources
Table 55 Key Data Information from Primary Sources
List of Figures
Figure 1 Market Scope
Figure 2 Porter’s Five Forces
Figure 3 Global Aviation Insurance Revenue (USD Million) By Type (2018-2022)
Figure 4 Global Aviation Insurance Revenue Market Share (%) By Type (2022)
Figure 5 Global Aviation Insurance Revenue (USD Million) By Applications (2018-2022)
Figure 6 Global Aviation Insurance Revenue Market Share (%) By Applications (2022)
Figure 7 Global Aviation Insurance Market Revenue (USD Million) By Regions (2018-2022)
Figure 8 Global Aviation Insurance Market Share (%) By Regions (2022)
Figure 9 North America Aviation Insurance Revenue (USD Million) By Country (2018-2022)
Figure 10 North America Aviation Insurance Revenue (USD Million) By Type (2018-2022)
Figure 11 North America Aviation Insurance Revenue (USD Million) By Applications (2018-2022)
Figure 12 Europe Aviation Insurance Revenue (USD Million) By Country (2018-2022)
Figure 13 Europe Aviation Insurance Revenue (USD Million) By Type (2018-2022)
Figure 14 Europe Aviation Insurance Revenue (USD Million) By Applications (2018-2022)
Figure 15 Asia Pacific Aviation Insurance Revenue (USD Million) By Country (2018-2022)
Figure 16 Asia Pacific Aviation Insurance Revenue (USD Million) By Type (2018-2022)
Figure 17 Asia Pacific Aviation Insurance Revenue (USD Million) By Applications (2018-2022)
Figure 18 South America Aviation Insurance Revenue (USD Million) By Country (2018-2022)
Figure 19 South America Aviation Insurance Revenue (USD Million) By Type (2018-2022)
Figure 20 South America Aviation Insurance Revenue (USD Million) By Applications (2018-2022)
Figure 21 Middle East and Africa Aviation Insurance Revenue (USD Million) By Region (2018-2022)
Figure 22 Middle East and Africa Aviation Insurance Revenue (USD Million) By Type (2018-2022)
Figure 23 Middle East and Africa Aviation Insurance Revenue (USD Million) By Applications (2018-2022)
Figure 24 Global Aviation Insurance Revenue (USD Million) By Type (2023-2030)
Figure 25 Global Aviation Insurance Revenue Market Share (%) By Type (2030)
Figure 26 Global Aviation Insurance Revenue (USD Million) By Applications (2023-2030)
Figure 27 Global Aviation Insurance Revenue Market Share (%) By Applications (2030)
Figure 28 Global Aviation Insurance Market Revenue (USD Million) By Regions (2023-2030)
Figure 29 North America Aviation Insurance Revenue (USD Million) By Country (2023-2030)
Figure 30 North America Aviation Insurance Revenue (USD Million) By Type (2023-2030)
Figure 31 North America Aviation Insurance Revenue (USD Million) By Applications (2023-2030)
Figure 32 Europe Aviation Insurance Revenue (USD Million) By Country (2023-2030)
Figure 33 Europe Aviation Insurance Revenue (USD Million) By Type (2023-2030)
Figure 34 Europe Aviation Insurance Revenue (USD Million) By Applications (2023-2030)
Figure 35 Asia Pacific Aviation Insurance Revenue (USD Million) By Country (2023-2030)
Figure 36 Asia Pacific Aviation Insurance Revenue (USD Million) By Type (2023-2030)
Figure 37 Asia Pacific Aviation Insurance Revenue (USD Million) By Applications (2023-2030)
Figure 38 South America Aviation Insurance Revenue (USD Million) By Country (2023-2030)
Figure 39 South America Aviation Insurance Revenue (USD Million) By Type (2023-2030)
Figure 40 South America Aviation Insurance Revenue (USD Million) By Applications (2023-2030)
Figure 41 Middle East and Africa Aviation Insurance Revenue (USD Million) By Region (2023-2030)
Figure 42 Middle East and Africa Aviation Insurance Revenue (USD Million) By Region (2023-2030)
Figure 43 Middle East and Africa Aviation Insurance Revenue (USD Million) By Type (2023-2030)
Figure 44 Middle East and Africa Aviation Insurance Revenue (USD Million) By Applications (2023-2030)
Figure 45 Bottom-Up and Top-Down Approaches for This Report
Figure 46 Data Triangulation
By Type
By Application
By End User
By Region