Aviation Insurance Market Report 2025 (Global Edition)

Global Aviation Insurance Market Report 2025 Market Size Split by Type (Public Liability Insurance, Passenger Liability Insurance, Combined Single Limit (CSL), Ground Risk Hull (Motion) Insurance, Gro...

Aviation Insurance Market Report Description

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Competitive Landscape of the Aviation Insurance Market

Key players deploy strategic initiatives such as product innovations, partnerships, and mergers. Companies prioritize R&D to introduce cutting-edge reagents, ensuring a competitive edge. Robust distribution networks and adherence to quality standards amplify market presence, fostering an environment where agility and innovation define industry leaders.

Aviation Insurance Industry News

In January 2023, Together with Altavair L.P., a pioneer in commercial aviation financing, KKR, a renowned worldwide investment firm, announced that it will invest an extra USD 1.15 billion to grow its global portfolio of leased commercial aircraft. 

(Source:https://www.businesswire.com/news/home/20230111005843/en/KKR-Commits-to-Invest-an-Additional-1.15-Billion-in-Aircraft-Leasing-with-Altavair)

Top Companies Market Share in Aviation Insurance Industry: (In no particular order of Rank)

• Allianz
• Starr International
• Marsh LLC
• American International Group Inc
• Berkshire Hathaway
• AXA SA
• Chubb
• Munich Re
• Santam Insurance
• Old Republic Aerospace Inc. (ORAE)
• HCC Insurance.
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of Aviation insurance Market

Which Region Dominates the Market?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. The aviation insurance industry in North America is strong and serves a wide range of stakeholders, such as airlines, owners, and aircraft operators. Specialized underwriters and insurers providing coverage for aviation operations risks define the region's market. Given the changing nature of the aviation business in North America, factors such as aircraft type, usage, safety record, and regulatory requirements impact premiums and coverage terms.

Which Region is Expanding at the Fastest CAGR?

The Europe region is witnessing an increase in the sales of reagents. The market provides extensive coverage for hazards associated with operating airplanes through professional underwriters and insurers. Aerialcraft type, usage, safety record, and regulatory criteria are some of the elements that affect premiums and coverage terms. The European aviation insurance market reflects the region's varied and dynamic aviation sector.

The current report Scope analyzes Aviation Insurance Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Aviation Insurance Market

According to Cognitive Market Research, the global Aviation insurance market size was estimated at USD 4615.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 1846.08  million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.0% from 2024 to 2031. The aviation insurance market in North America is a diversified and vibrant ecosystem that caters to a broad range of aviation industry stakeholders. Commercial aviation, which comprises airlines that operate passenger and freight flights, is a significant market segment. The need for insurance solutions that cover risks including aircraft damage, liability, and passenger injuries is significantly fueled by commercial aviation. North American insurers customize their products to match the particular requirements of airlines and other aviation enterprises because of the country's dynamic regulatory landscape and changing market trends. All things considered, the North American aviation insurance market is a model of flexibility and robustness, offering crucial financial security to the aviation sector in the area.

Country Analysis

• According to Cognitive Market Research, the US had a major share in the aviation insurance market with a market size of USD 1456.56 million in 2024 and is projected to grow at a CAGR of 3.8% during the forecast period. The demand is amplified by the nation's the large number of commercial airlines. 
• The Canada aviation insurance market had a market share of USD 221.53 million in 2024 and is projected to grow at a CAGR of 4.8% during the forecast period. Canada's rising general aviation activities.
• The Mexico aviation insurance market is projected to witness growth at a CAGR of 4.5% during the forecast period with a market size of USD 167.99 million in 2024.

 

Europe Aviation Insurance Market

According to Cognitive Market Research, with a market value of USD 4615.2 million in 2024 and projected to expand at a compound annual growth rate (CAGR) of 4.3% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 1384.56 million. Europe's aviation insurance industry serves a wide spectrum of aviation stakeholders and is distinguished by a complex and strictly regulated environment. Business and general aviation, which includes privately owned aircraft used for a range of reasons such as corporate travel, leisure, and general aviation activities, is a substantial market segment. Certain risk profiles are addressed by insurance options for general and business aviation, such as hull coverage, liability defense, and crew and passenger coverage. European insurers cater to the specific requirements of general aviation and business aviation operators by offering customized solutions that align with their strict safety regulations and varied operating requirements. Overall, the European market for aviation insurance is flexible and resilient, providing the aviation industry in the region with complete financial security.

• The United Kingdom aviation insurance market had a market share of USD 232.61 million in 2024 and is projected to grow at a CAGR of 5.1% during the forecast period. In the UK, aviation insurance sales witness an upswing due to the nation's robust aerospace industry. 
• The France aviation insurance market is projected to witness growth at a CAGR of 3.5% during the forecast period with a market size of USD 127.38 million in 2024.
• According to Cognitive Market Research, the Germany aviation insurance market size was valued at USD 274.14 million in 2024 and is projected to grow at a CAGR of 4.5% during the forecast period. In Germany, aviation insurance sales surge due to the nation's rising aviation market. 
• The Italy aviation insurance market is projected to witness growth at a CAGR of 3.7% during the forecast period with a market size of USD 119.07 million in 2024.
• The Russia aviation insurance market is projected to witness growth at a CAGR of 3.3% during the forecast period with a market size of USD 214.61 million in 2024.
• The Spain aviation insurance market is projected to witness growth at a CAGR of 3.4% during the forecast period with a market size of USD 113.53 million in 2024.
• The Luxembourg aviation insurance market is projected to witness growth at a CAGR of 4.4% during the forecast period with a market size of USD 42.92 million in 2024.
• The Portugal aviation insurance market is projected to witness growth at a CAGR of 4.1% during the forecast period with a market size of USD 29.08 million in 2024.
• The Greece aviation insurance market is projected to witness growth at a CAGR of 4.6% during the forecast period with a market size of USD 16.61 million in 2024.
• Rest of Europe aviation insurance market is projected to witness growth at a CAGR of 3.0% during the forecast period with a market size of USD 214.61 million in 2024.

Asia Pacific Aviation Insurance Market

According to Cognitive Market Research, the global Aviation insurance market size was estimated at USD 4615.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 1061.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.8% from 2024 to 2031. The booming aviation sector across various countries is driving the quick expansion and development of the aviation insurance market in the Asia Pacific region. Cargo aviation insurance is a significant market niche that addresses the particular hazards involved in air freight transportation of cargo. In order to safeguard priceless items and promote global trade, cargo aviation insurance offers coverage for cargo damage, loss, and liability during transit. In order to satisfy the changing demands of cargo airlines and logistics firms, insurers are tailoring their products to the growing need for air cargo services in the Asia Pacific area. All things considered, the Asia Pacific aviation insurance market exhibits a great deal of room for growth and innovation, which will help to sustain the aviation industry's sustained expansion.

• According to Cognitive Market Research, the China aviation insurance market size was valued at USD 477.67 million in 2024 and is projected to grow at a CAGR of 7.3% during the forecast period. Aviation insurance sales surge in China due to the nation's rapid expansion in a leading hub for aerospace technology and innovation.
• The Japan aviation insurance market is projected to witness growth at a CAGR of 6.3% during the forecast period with a market size of USD 146.49 million in 2024.
• The India aviation insurance market had a market share of USD 127.38 million in 2024 and is projected to grow at a CAGR of 9.6% during the forecast period. The demand is augmented by India's increasing by the presence of major aircraft manufacturers.
• The South Korea aviation insurance market is projected to witness growth at a CAGR of 6.9% during the forecast period with a market size of USD 106.15 million in 2024.
• The Australia aviation insurance market is projected to witness growth at a CAGR of 7.5% during the forecast period with a market size of USD 55.20 million in 2024.
• The South East Asia aviation insurance market is projected to witness growth at a CAGR of 8.8% during the forecast period with a market size of USD 73.24 million in 2024.
• The Rest of Asia Pacific aviation insurance market is projected to witness growth at a CAGR of 7.6% during the forecast period with a market size of USD 75.37 million in 2024.

South America Aviation Insurance Market

According to Cognitive Market Research, the global Aviation insurance market size was estimated at USD 4615.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 230.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031. Alongside the region's growing aviation industry, Latin America's aviation insurance market is growing steadily. General aviation insurance is a significant market niche that serves privately owned aircraft used for a range of activities, including tourism, business travel, and leisure flight. Hull damage, liability protection, and passenger injury coverage are all covered by general aviation insurance, meeting the various demands of aircraft owners and operators in the area. In order to meet the particular risks and legal requirements of this market, insurers are improving their products in response to the rising demand for general aviation and air transportation services in Latin America. All things considered, the Latin American aviation insurance market offers insurers and aviation stakeholders encouraging prospects that will propel the region's aviation industry's further expansion and advancement.

• According to Cognitive Market Research, the Brazil aviation insurance market size was valued at USD 98.77 million in 2024 and is projected to grow at a CAGR of 5.8% during the forecast period. Aviation insurance sales flourish in Brazil due to the nation's airline operators.
• The Argentina aviation insurance market had a market share of USD 38.77 million in 2024 and is projected to grow at a CAGR of 6.1% during the forecast period. The demand is augmented by Argentina's commitment to a robust general aviation sector.
• The Colombia aviation insurance market is projected to witness growth at a CAGR of 5.0% during the forecast period with a market size of USD 20.54 million in 2024.
• The Peru aviation insurance market is projected to witness growth at a CAGR of 5.4% during the forecast period with a market size of USD 18.92 million in 2024.
• The Chile aviation insurance market is projected to witness growth at a CAGR of 5.5% during the forecast period with a market size of USD 16.61 million in 2024.
• The Rest of Latin America aviation insurance market is projected to witness growth at a CAGR of 4.3% during the forecast period with a market size of USD 37.15 million in 2024.

Middle East and Africa Aviation Insurance Market

According to Cognitive Market Research, the global Aviation insurance market size was estimated at USD 4615.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 92.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031. The Middle East and Africa's growing aviation industry is causing the market for aviation insurance to change at the same time. Commercial airline insurance is a significant market area that provides coverage for airlines that operate both passenger and cargo flights. Commercial airline insurance supports the safe and effective operation of airlines throughout the region by offering crucial protection against risks like aircraft damage, third-party liability, and passenger injuries. In order to satisfy the changing demands of airlines and aviation enterprises, insurers are tailoring their products to the Middle East and Africa's expanding air traffic and infrastructural development. All things considered, the Middle East and Africa aviation insurance market offers insurers a lot of chances to help the region's developing aviation sector and guarantee its sustainability and further expansion.

• According to Cognitive Market Research, the GCC Countries aviation insurance market size was valued at USD 39.51 million in 2024 and is projected to grow at a CAGR of 6.3% during the forecast period. Aviation insurance sales flourish in the GCC Countries due to the region's strategic investments in research and advancements.
• The Egypt aviation insurance market is projected to witness growth at a CAGR of 5.8% during the forecast period with a market size of USD 9.69 million in 2024.
• The South Africa aviation insurance market is projected to witness growth at a CAGR of 6.5% during the forecast period with a market size of USD 14.58 million in 2024. Aviation insurance sales flourish in the South Africa due to the region's strategic investments in research and advancements.
• The Turkey aviation insurance market is projected to witness growth at a CAGR of 5.0% during the forecast period with a market size of USD 7.94 million in 2024.
• The Nigeria aviation insurance market is projected to witness growth at a CAGR of 4.6% during the forecast period with a market size of USD 9.69 million in 2024.
• The Rest of MEA aviation insurance market is projected to witness growth at a CAGR of 4.5% during the forecast period with a market size of USD 10.89 million in 2024.

 

Aviation Insurance Market Analysis

Aviation Insurance Market Type Segment Analysis

According to Cognitive Market Research, Public Liability Insurance held the major market share over the forecast period. Protect against property damage and bodily injury to third parties resulting from aircraft activities. It protects airlines, owners, and aircraft operators from monetary damages and legal ramifications from mishaps or incidents involving their aircraft. In the aviation sector, public liability insurance is crucial for maintaining regulatory compliance and safeguarding the financial interests of stakeholders.

Passenger Liability Insurance is the fastest-growing category over the forecast period. Passenger liability insurance is a significant segment of the aviation insurance industry, which provides coverage for passengers' fatalities and physical injuries sustained while flying. It pays customers or beneficiaries for losses sustained during flight and protects airlines and aircraft operators from legal liability. In order to guarantee passenger safety and financial security for airlines as well as passengers, passenger liability insurance is crucial for the aviation sector.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Aviation Insurance Industry. Request a Free Sample PDF!

Aviation insurance Market Application Segment Analysis

According to Cognitive Market Research, Commercial Aviation holds a prominent market share. A sizable chunk of the aviation insurance industry is devoted to commercial aviation, which covers airlines, manufacturers, lessors, and aircraft operators involved in commercial air travel. It provides complete insurance solutions, including hull, liability, and ancillary coverages, specifically designed to address the special risks commercial aviation operations encounter. A significant portion of the demand for insurance solutions to reduce the financial risks connected with aircraft operations comes from the commercial aviation sector.

Business & General Aviation is the fastest-growing category over the forecast period. A separate market niche within aviation insurance is occupied by commercial and general aviation, which covers privately owned and operated aircraft for travel, business, and pleasure. This market segment includes various aircraft types, such as private, business, and helicopter aircraft. Business and general aviation insurance products cover particular risk profiles, including as hull, liability, and passenger coverage.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Aviation Insurance End User Segment Analysis

According to Cognitive Market Research, Airlines hold a prominent market share. A sizeable portion of the aviation insurance industry comprises airlines needing extensive fleets, operations, and passengers coverage. Airlines provide hull insurance for their aircraft, third-party liability coverage, and passenger liability insurance in the event of accidents or fatalities. Given the complexity of international air travel, airlines depend on insurance to reduce financial risk and guarantee regulatory compliance.

Airports are the fastest-growing category over the forecast period. Airports can benefit from public liability, business interruption, property damage, and third-party liability insurance. Comprehensive insurance is necessary to guard against financial losses resulting from accidents, incidents, or legal claims within the aviation business because of the dynamic and high-stakes nature of airport operations.

• Airlines
• Airports
• Aircraft Product Manufacturers
• Leasing Companies
• Ground Operators
• Individual General Aviation Aircraft Operators
• Air Taxi Operators

Author's Detail

Swasti Dharmadhikari

Research associate at Cognitive Market Research

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Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.

Author's Conclusion