Musical instruments are not the only ones at risk. Sometimes I travel with carefully calibrated electronic instruments. Having those bashed in the baggage hold would negate the purpose of the trip, even if the instruments weren't permanently damaged and could be re-calibrated once I got home again.
Photographers are another group with air travel problems. Some guys have started using the airline freight systems to ship their gear. Once you have a verified account, you can package your gear on a pallet, drop it off at the freight office in the airport and pick it up at your destination. It's pricy, but it is treated carefully.
It isn't unusual for a major photographer to have $50,000 of gear shipped to a major event like the Olympics or the Superbowl.