Market Overview:
The global marine, aviation and transport insurance market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for marine, aviation and transport insurance due to the increase in trade activities across different regions. Additionally, the rise in online transactions has led to an increase in demand for online marine, aviation and transport insurance policies. However, stringent regulations governing the maritime industry are restraining the growth of this market.
Product Definition:
A type of insurance that covers any losses or damages sustained as a result of an accident or incident involving a vessel, aircraft, or other form of transport. Marine, aviation, and transport insurance is important because it can help protect businesses from the high costs associated with these types of accidents.
Marine:
Marine is the branch of military and naval forces that are used for transportation of goods or people by water. The marine part can be further classified into two parts, namely the commercial marine and the naval or defense force. Transport can be broadly segmented into three types, namely surface transport (by air, land or water), intermodal (transportation of goods via multiple modes) and deep transport (transportation via ship).
Aviation:
Aviation and its usage in marine, aviation & transport insurance market are the terms used for denoting all types of risks that are involved in the transportation of goods by air or by sea. The main function of aviation is to carry heavy loads over long distances at a fast rate with safety.
Application Insights:
The offline segment dominated the global marine, aviation and transport insurance market in 2017. Offline policies are more expensive than online policies but they offer higher levels of cover as they include accidental damage to the vehicle or its cargo as well as third party liability. The main reason for this preference is that these types of cover are available only if you opt for a face-to-face meeting with an agent, which most people find inconvenient when buying online.
Online segment is expected to grow at a rapid pace over the forecast period owing to various advantages offered by internet including ease of purchase, easy payment and delivery options along with competitive rates offered by different providers on similar terms. Moreover, companies such as insurethebox have introduced innovative ways to save both time and money while purchasing marine or aviation insurance through e-commerce portals without even visiting an office or agent location.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing increasing demand for marine, aviation and transport insurance policies since past few years on account of growing trade activities with foreign countries as well as domestic ones. Moreover, rising number of shipping activities due to rapid development in manufacturing sector is anticipated to drive growth over the forecast period.
The Asia Pacific was followed by North America which accounted for a share of more than 20% in terms of revenue in 2017 owing to high demand from U.S., Canada, and Mexico for maritime, aviation and transport insurance policies against natural calamities such as hurricanes or earthquakes etc. Rising cross border trade among these countries coupled with increasing tourism has led to an increase in need for such policies resulting into regional growth over the next eight years.
Growth Factors:
- Increasing demand for marine, aviation and transport insurance due to the growth of global trade and travel.
- The increasing number of accidents and natural disasters affecting marine, aviation and transport infrastructure.
- The development of new transportation technologies such as drones, autonomous vehicles etc., which are creating new risks that need to be insured against.
- Growing awareness among businesses and consumers about the importance of insurance in mitigating risk exposure in marine, aviation and transport activities .
Scope Of The Report
Report Attributes
Report Details
Report Title
Marine, Aviation & Transport Insurance Market Research Report
By Type
Marine, Aviation, Transport
By Application
Online, Offline
By Companies
Allianz, American International, Aon, Hallmark Aerospace Insurance Managers, Marsh, Old Republic Aerospace, Arthur J. Gallagher, XL Catlin, AXA, AGCs
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
161
Number of Tables & Figures
113
Customization Available
Yes, the report can be customized as per your need.
Global Marine, Aviation & Transport Insurance Market Report Segments:
The global Marine, Aviation & Transport Insurance market is segmented on the basis of:
Types
Marine, Aviation, Transport
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Online, Offline
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Allianz
- American International
- Aon
- Hallmark Aerospace Insurance Managers
- Marsh
- Old Republic Aerospace
- Arthur J. Gallagher
- XL Catlin
- AXA
- AGCs
Highlights of The Marine, Aviation & Transport Insurance Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Marine
- Aviation
- Transport
- By Application:
- Online
- Offline
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Marine, Aviation & Transport Insurance Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Marine, aviation and transport insurance is a type of insurance that covers risks associated with maritime travel, air travel and transport. These risks can include accidents, injuries and loss of property.
Some of the major players in the marine, aviation & transport insurance market are Allianz, American International, Aon, Hallmark Aerospace Insurance Managers, Marsh, Old Republic Aerospace, Arthur J. Gallagher, XL Catlin, AXA, AGCs.
The marine, aviation & transport insurance market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Marine, Aviation & Transport Insurance Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Marine, Aviation & Transport Insurance Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Marine, Aviation & Transport Insurance Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Marine, Aviation & Transport Insurance Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Marine, Aviation & Transport Insurance Market Size & Forecast, 2020-2028
4.5.1 Marine, Aviation & Transport Insurance Market Size and Y-o-Y Growth
4.5.2 Marine, Aviation & Transport Insurance Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Marine
5.2.2 Aviation
5.2.3 Transport
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Online
6.2.2 Offline
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Marine, Aviation & Transport Insurance Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Marine, Aviation & Transport Insurance Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Marine
9.6.2 Aviation
9.6.3 Transport
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Online
9.10.2 Offline
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Marine
10.6.2 Aviation
10.6.3 Transport
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Online
10.10.2 Offline
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Marine
11.6.2 Aviation
11.6.3 Transport
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Online
11.10.2 Offline
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Marine
12.6.2 Aviation
12.6.3 Transport
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Online
12.10.2 Offline
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Marine
13.6.2 Aviation
13.6.3 Transport
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Online
13.10.2 Offline
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Marine, Aviation & Transport Insurance Market: Competitive Dashboard
14.2 Global Marine, Aviation & Transport Insurance Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Allianz
14.3.2 American International
14.3.3 Aon
14.3.4 Hallmark Aerospace Insurance Managers
14.3.5 Marsh
14.3.6 Old Republic Aerospace
14.3.7 Arthur J. Gallagher
14.3.8 XL Catlin
14.3.9 AXA
14.3.10 AGCs
