United States Drone Insurance- Market Overview:
Unmanned aerial vehicles (UAVs), also known as drones, are remotely piloted aircraft systems that pose a significant risk to property and life on the ground in the event of an accident. Despite eliminating the risk to passengers or crew, drones can cause significant damage due to faulty operation, mechanical defects, or component failure. Potential losses and damages include bodily injury to humans and animals, as well as damage to buildings and other structures. Consequently, the demand for drone insurance has witnessed a surge in recent years.
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Growing Popularity of Online Platforms for Drone Insurance Among Consumers
Market Growth Drivers:
The Use of the UAVs for Commercial and Defense Purposes and Increasing Numbers of Drone Accidents
Availability of Number of Players in the United States Market and Limited Coverage Offerings by Some Insurance Providers
High Cost of Drone Insurance
Growing Recreational Drone Usage Among Individuals
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are American International Group (AIG) (United States), ProSight Specialty (United States), Verifly (United States), SkyWatch Insurance Services, Inc. (United States), Avion Insurance (United States), BWI Aviation Insurance (United States), Thimble (United States), Starr International Company, Inc. (United States), State Farm Insurance (United States), Hub International (United States), AXA (France), Allianz SE (Germany) and Tokio Marine Holdings, Inc (Japan). Analyst at AMA Research see United States Players to retain maximum share of United States Drone Insurance- market by 2028. Considering Market by End Users, the sub-segment i.e. Government & Defense will boost the Drone Insurance- market. Considering Market by Term Period, the sub-segment i.e. Short Term (few hours to 1 day) will boost the Drone Insurance- market. Considering Market by Sales Channel, the sub-segment i.e. Direct & Digital will boost the Drone Insurance- market. Considering Market by Coverage, the sub-segment i.e. Comprehensive will boost the Drone Insurance- market. Considering Market by Drone Type, the sub-segment i.e. Small Drones will boost the Drone Insurance- market.
What Can be Explored with the Drone Insurance- Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the United States Drone Insurance- Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Drone Insurance-
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the United States Drone Insurance- market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Drone Insurance- market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Drone Insurance Companies, Drone Insurance Brokers, Drone Manufacturers & Traders, Regulatory & Government Bodies, End Users, Downstream Vendors and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.