Space Insurance Market Report 2026

The space insurance market size has grown strongly in recent years. It will grow from $4.06 billion in 2025 to $4.43 billion in 2026 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to growth in commercial satellite launches increasing demand for mission risk coverage, early development of pre-launch and launch insurance frameworks, rising complexity of orbital missions driving need for specialized reinsurance capacity, increased frequency of launch delays prompting adoption of delay insurance products, expansion of third-party liability requirements due to growing space traffic.

The space insurance market size is expected to see strong growth in the next few years. It will grow to $6.23 billion in 2030 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to rising deployment of mega-constellations increasing aggregate insurance exposure, growing demand for tailored insurance products for on-orbit servicing and refueling missions, development of advanced actuarial models incorporating space debris and collision risks, increasing participation of private insurers and reinsurers in high-value space risk portfolios, expansion of insurance coverage for lunar and deep space mission activities. Major trends in the forecast period include rising demand for comprehensive in-orbit risk coverage, growth in insurance products for mega-constellations, increased focus on debris-related liability insurance, expansion of insurance solutions for commercial human spaceflight, higher adoption of modular and customizable satellite insurance packages.

The increasing number of satellite launches is expected to drive the growth of the space insurance market. Satellite launches involve deploying satellites into Earth’s orbit or space using rockets or launch vehicles. This rise in launches is fueled by growing deployment by companies and governments to meet the increasing demand for global high-speed internet connectivity. Space insurance mitigates risks associated with satellite launches by covering losses from launch failures, operational issues, or deployment damage, providing financial protection and enabling investors to manage costly space project risks. For example, in May 2025, the Satellite Industry Association, a US-based non-profit trade organization, reported that 259 launches - including 224 commercially procured - occurred in 2024, driving global commercial launch revenues to $9.3 billion, a 30% increase compared with 2023. Consequently, the rising number of satellite launches is boosting the space insurance market.

Major companies operating in the space insurance market are focusing on innovative solutions, such as satellite liability insurance, to protect operators from potential damages caused to third parties during space operations. Satellite liability insurance covers satellite operators against financial damages or legal claims resulting from harm to third parties during launch, in-orbit activities, or re-entry. For instance, in May 2024, Tata AIG, an India-based insurance company, introduced India’s first Satellite In-Orbit Third-Party Liability Insurance. The product offers vital financial safeguards for satellite manufacturers and operators against third-party injuries or property damage linked to orbital incidents. Designed in accordance with global standards, the insurance addresses growing threats in India’s swiftly evolving space industry, especially amid the surge in satellite deployments and recent solar activity. This initiative aligns with India’s goal of expanding its presence in the international space market.

In April 2023, Tokio Marine Holdings, Inc., a Japan-based provider of space insurance, partnered with Axelspace Holdings Inc. to innovate space insurance and disaster response through cutting-edge satellite technology. This partnership is aimed at creating tailored insurance products and digital tools that utilize data from microsatellites to cater to the rising needs of the space sector and to improve capabilities in responding to disasters. Axelspace Holdings Inc. is a Japan-based space company involved in building, launching, and managing microsatellites.

Major companies operating in the space insurance market are Munich Re, Swiss Re, Tokio Marine Holdings Inc., Sompo International Holdings Ltd., SCOR SE, Marsh LLC, Aon plc, Willis Towers Watson, AXA XL, Starr Insurance Companies, Hiscox Ltd., Lockton Companies, TATA AIG, Lloyd’s of London, Global Aerospace, Odyssey Re Holdings Corp., Atrium Underwriting Group, MAPFRE Global Risks, Assure Space LLC, ExpanseInsure.

North America was the largest region in the space insurance market in 2025. The regions covered in the space insurance market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs are increasing the cost of manufacturing spacecraft components, launch vehicles, and satellite parts, resulting in higher premiums across launch, in-orbit, and satellite insurance segments. Regions dependent on imported components especially in Asia-Pacific and Europe are most affected, particularly commercial satellite operators and launch service providers. Tariffs disrupt supply chains and cause scheduling delays, raising demand for launch delay insurance. However, they also encourage local manufacturing and diversified sourcing, supporting long-term market stability.

The space insurance market research report is one of a series of new reports that provides space insurance market statistics, including the space insurance industry global market size, regional shares, competitors with the space insurance market share, detailed space insurance market segments, market trends, opportunities, and any further data you may need to thrive in the space insurance industry. This space insurance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Space insurance is a niche form of insurance developed to mitigate financial risks associated with space missions and satellite operations. This type of coverage includes multiple policies designed to protect various phases of a mission, offering financial security to stakeholders such as satellite operators, space agencies, and investors against potential significant losses.

There are several main categories of space insurance, including launch insurance, in-orbit insurance, end-of-life insurance, satellite insurance, and spacecraft insurance. Launch insurance is a targeted policy that offers protection from financial setbacks arising due to malfunctions or damages during the highly vulnerable launch stage of satellite and spacecraft operations. These insurance types are distributed through different channels such as direct sales, brokers, online platforms, reinsurance companies, and insurance agents. They serve a wide range of applications including communication satellites, earth observation satellites, navigation satellites, scientific and exploration missions, and space stations and habitats. The end-users benefiting from these insurance solutions include government space agencies, commercial satellite operators, launch service providers, space tourism companies, and academic and research institutions.

The countries covered in the space insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The space insurance market includes revenues earned by entities through third-party liability insurance, pre-launch insurance, reinsurance for space risks, launch delay insurance. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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