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Dublin, June 04, 2015 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/htt5cg/global_aerospace) has announced the addition of the "Global Aerospace Insurance Market 2015-2019" report to their offering.
The Global Aerospace Insurance market to grow at a CAGR of -7.20 percent over the period 2014-2019
Aerospace insurance is the insurance coverage designed mainly for airports and the operations at airports, manufacturers, and service providers. The Aerospace sector is one of the prominent sectors worldwide. This sector is responsible for the conveyance of growing number of passengers and goods. The challenges faced by companies that exist in this sector are similar and are global in nature.
The report covers the present scenario and the growth prospects of the Global Aerospace Insurance market for the period 2015-2019. The market can be segmented into three: Manufacturers, Airports, and Service Providers.
One of the major factors influencing the Global Aerospace Insurance Market is the reduction in the number of insurance claims. Improvement in technology ensures more rigorous testing of parts, which leads to a reduction in the number of accidents and hence reduces insurance claims.
According to the report, establishment of new airports is a major driver in the Global Aerospace Insurance Market. Lately, underwriters covering the aerospace industry have witnessed a drop in premiums because of fewer claims and low fatality levels.
Further, the report states that accidental and catastrophic risks pose a great challenge to the market. Accidents caused by natural catastrophes, human error or war between countries have led to an increase in insurance costs and premiums.
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For more information visit http://www.researchandmarkets.com/research/htt5cg/global_aerospace
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