In 2019, flight claim companies in Europe and North America had an economic impact of just over 208 million U.S. dollars, before an expected increase of close to 220 billion U.S. dollars in 2020. These firms are specialized B2C companies and are expected to receive high levels of business traffic off the back of disruption caused by the coronavirus (COVID-19) crisis. However, the firms are expected to be strongly hit following on from the decline of the global aviation industry, with the repercussions first felt in 2021. Forecasts have suggested that their impact on the economy will fall to around 175 million U.S. dollars by 2025.
Flight claim companies economic impact in Europe and North America from 2019 to 2025*
(in million U.S. dollars)
Only companies active in Europe and North America are taken into account.
Legal tech, or LawTech, refers to the use of technology and software to provide legal services and support the legal industry.
Out of scope: specific HR-services (HR-tech), and software for purely archiving/searching legal documents or contracts (legal-software).
*Forecast from 2020 to 2025.
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Statista. (December 11, 2020). Flight claim companies economic impact in Europe and North America from 2019 to 2025* (in million U.S. dollars) [Graph]. In Statista. Retrieved November 13, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1168519/flight-claim-companies-economic-impact-europe-north-america/
Statista. "Flight claim companies economic impact in Europe and North America from 2019 to 2025* (in million U.S. dollars)." Chart. December 11, 2020. Statista. Accessed November 13, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1168519/flight-claim-companies-economic-impact-europe-north-america/
Statista. (2020). Flight claim companies economic impact in Europe and North America from 2019 to 2025* (in million U.S. dollars). Statista. Statista Inc.. Accessed: November 13, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1168519/flight-claim-companies-economic-impact-europe-north-america/
Statista. "Flight Claim Companies Economic Impact in Europe and North America from 2019 to 2025* (in Million U.S. Dollars)." Statista, Statista Inc., 11 Dec 2020, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1168519/flight-claim-companies-economic-impact-europe-north-america/
Statista, Flight claim companies economic impact in Europe and North America from 2019 to 2025* (in million U.S. dollars) Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1168519/flight-claim-companies-economic-impact-europe-north-america/ (last visited November 13, 2024)
Flight claim companies economic impact in Europe and North America from 2019 to 2025* (in million U.S. dollars) [Graph], Statista, December 11, 2020. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1168519/flight-claim-companies-economic-impact-europe-north-america/
