, /PRNewswire/ -- The global aerospace insurance market size is estimated to grow by million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 4.48% during the forecast period.
The commercial airline industry faces challenges such as lengthy security checks, cancellations, and delays, leading to passenger dissatisfaction. The grounding of new aircraft like the Boeing 787 Dreamliner due to safety concerns has further impacted the sector. In response, business travelers have turned to non-airline aviation services, including charter flights, which are often insured.
This trend, driven by the growth of corporate jet deliveries and flight cards, has increased the demand for aerospace insurance. With decreasing insurance policy prices and fewer claims, the aerospace insurance sector has ample underwriting capacity. As the global economy recovers, underwriters are now insuring new business classes, fueling the expansion of the aerospace insurance market.
Get a detailed analysis on regions, market segments, customer landscape, and companies- The aerospace industry faces unique risks that require specialized insurance coverage. Insurance for aerospace companies covers various aspects such as aircraft, satellites, and spacecraft. One trend in the aerospace insurance market is the increasing demand for cyber insurance due to the growing reliance on technology in the industry.
Another trend is the rise in interest for drone insurance as their us.
