Global Marine, Aviation & Transport Insurance Industry
The global Marine, Aviation & Transport Insurance industry witnessed a steady growth in 2018 and the trend is unlikely to change in 2019. The year-over-year growth between 2017 and 2018 remained strong. The industry outlook remains positive for the next couple of years. The global gross domestic product (GDP) has been on an upward trajectory with stable crude oil and commodity prices. This is reflecting favorably of the aerospace sector. Meanwhile, a strong growth has been observed in the passenger travel demand particularly in emerging economies. Regions such as Asia-Pacific and the Middle East show tremendous market scope and is expected to present attractive opportunities in the years to come.
The key players covered in this study
Hallmark Aerospace Insurance Managers
Old Republic Aerospace
Arthur J. Gallagher
Global rising economic superpowers are undergoing substantial urbanization, which is proving an impetus to several large-scale sectors such as tourism, transportation, aviation among others. To support the increased number of air passengers, airline companies are investing on fleet expansion, which is fueling the demand for aircrafts. Realizing the opportunity, aircraft manufacturers are increasing their operation capacity. The vast untapped market in Asia is expected to lure higher foreign direct investment in the region. Demand for commercial aircraft in the region continues to grow at an unprecedented scale. Global aircraft production is at all time high main due to the robust growth of both commercial and defence aviation sector.
Higher defence spending in Asia, the Middle East, Europe and Americas is driving the defence aviation sector in 2019 and beyond. Sociopolitical conflicts between countries in South-East Asia, and the Middle East has led to a rise in demand for defence equipment, commodities, devices, vehicles, etc. Growth of the global Marine, Aviation & Transport Insurance industries is also helping in job creation. North America and Europe is home to some of the top-notch industry players. These regions have witnessed a decent rise in employment in the aerospace sector. The sub-markets of the global Marine, Aviation & Transport Insurance sector are also profiting from the uptick in aviation sectors, which include simulator manufacturing and aircraft electronics.
For companies operating the global aerospace, investment in technological innovation and development to novel aerospace solution will be vital for future growth. At the same time, companies must focus in improving manufacturing capacity to drive efficiency. The global aerospace industry is unlikely to witness any major downturn in the medium term, with most of the growth coming from fast-developing countries
The study objectives of this report are:
To analyze global Marine, Aviation & Transport Insurance status, future forecast, growth opportunity, key market and key players.
To present the Marine, Aviation & Transport Insurance development in United States, Europe and China.
To strategically profile the key players and comprehensively analyze their development plan and strategies.
To define, describe and forecast the market by product type, market and key regions.
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