Satellite Insurance Market Value, Growth, and Trends

Satellite Insurance Market

Advance Market Analytics has introduced a research publication focusing on the Worldwide Satellite Insurance Market, delineating significant business segments and spotlighting diverse geographical regions for an in-depth analysis of market data. The study achieves a harmonious blend of qualitative and quantitative information regarding the Worldwide Satellite Insurance market. It furnishes valuable historical market size data (Volume and Value) from 2018 to 2022, with estimations and forecasts extending to 2028. Some are the key & emerging players that are part of coverage and have being profiled are Global Aerospace (United States), AIG (United States), Allianz (Germany), USAIG (United States), Hallmark Financial Services (United States), Marsh Inc (United Kingdom), Chinalife (China), Travers Aviation (United States), Malayan Insurance (Philippines), AXA (France).

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The developments and growth of the aerospace industry are driving the growth of the market. Satellite insurance emerged when a European Vega rocket was unsuccessful two minutes after the launch in French Guiana, annihilating a United Arab Emirates military observation satellite, thus the incident is probably the biggest space insurance loss in the industry. Lloyd’s of London launched the foremost satellite insurance policy in 1965. It was intended to incur the cost of physical damages on pre-launch. Satellites are expensive and cost billions of dollars to make a satellite project, which includes various steps such as planning, manufacturing, testing, and launch stage thus, the insurance firms consider the idea of providing satellite insurance. The space insurance industry generates around USD 750 to USD 800 million a year. After several rocket failures in 1998 and 2001, in recent years space insurers have seen their profits rise and have lowered premium rates. In 2010, out of the almost 1 000 operational satellites in orbit, about 175 commercial satellites are insured for a total value of some USD 170 billion. Approximately 36 commercial launches carrying 23 GEO satellites and 25 LEO satellites could be insured each year through 2013. Five operators have nearly 50% of the in-orbit fleet, and 48 operators split the remainder.

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Influencing Market Trend

  • The demand for satellite-based services such as climate monitoring and reconnaissance is growing in many regions
  • The incorporation of advanced technology with the small low-cost satellites

Market Drivers

  • The rising demand for miniaturized satellites boosts the demand for satellite insurance
  • The increase in the number of satellite launches


  • The surge in demand for EO satellites
  • The satellites are going through continuous technological advancements due to the faster and simple construction and design requirements
  • Incorporation of machine learning (ML) intelligence on satellite improve spacecraft reliability, provides efficient communications, computing capabilities, and improve coordination, thus fuels the market


  • The chances of damage to the components during transportation to the launch site are high

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Analysis by Type (Ground risk, Satellite risk), Application (Business, Government, Military, Others), Coverage Type (Satellite launch vehicle flight only, Satellite launch, Spacecraft pre-transit, Transit and pre-launch, Satellite contingency, Satellite in-orbit, Loss of revenue and business interruption, In-orbit incentives, Production facility, Satellite in-orbit third-party liability, Others), End User (Satellite Operators, Satellite Manufacturers, Launch Vehicle Manufacturers, Launch Service Providers, Space Agencies)

Competitive landscape highlighting important parameters that players are gaining along with the Market Development/evolution

  • % Market Share, Segment Revenue, Swot Analysis for each profiled company [Global Aerospace (United States), AIG (United States), Allianz (Germany), USAIG (United States), Hallmark Financial Services (United States), Marsh Inc (United Kingdom), Chinalife (China), Travers Aviation (United States), Malayan Insurance (Philippines), AXA (France)]
  • Business overview and Product/Service classification
  • Product/Service Matrix [Players by Product/Service comparative analysis]
  • Recent Developments (Technology advancement, Product Launch or Expansion plan, Manufacturing and R&D etc)
  • Consumption, Capacity & Production by Players

    The regional analysis of Global Satellite Insurance Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world. Whereas, owing to rising no. of research activities in countries such as China, India, and Japan, Asia Pacific region is also expected to exhibit higher growth rate the forecast period 2023-2028.

    Table of Content
    Chapter One: Industry Overview
    Chapter Two: Major Segmentation (Classification, Application and etc.) Analysis
    Chapter Three: Production Market Analysis
    Chapter Four: Sales Market Analysis
    Chapter Five: Consumption Market Analysis
    Chapter Six: Production, Sales and Consumption Market Comparison Analysis
    Chapter Seven: Major Manufacturers Production and Sales Market Comparison Analysis
    Chapter Eight: Competition Analysis by Players
    Chapter Nine: Marketing Channel Analysis
    Chapter Ten: New Project Investment Feasibility Analysis
    Chapter Eleven: Manufacturing Cost Analysis
    Chapter Twelve: Industrial Chain, Sourcing Strategy and Downstream Buyers

    Read Executive Summary and Detailed Index of full Research Study @

    Highlights of the Report
    • The future prospects of the global Satellite Insurance market during the forecast period 2023-2028 are given in the report.
    • The major developmental strategies integrated by the leading players to sustain a competitive market position in the market are included in the report.
    • The emerging technologies that are driving the growth of the market are highlighted in the report.
    • The market value of the segments that are leading the market and the sub-segments are mentioned in the report.
    • The report studies the leading manufacturers and other players entering the global Satellite Insurance market.

Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Middle East, Africa, Europe or LATAM, Southeast Asia.

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