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The Space Economy at a Glance 2014

image of The Space Economy at a Glance 2014

The space sector plays an increasingly pivotal role in the functioning of modern societies and their economic development as the use of satellite technology gives rise to new applications, uses and markets. Space Economy at a Glance offers a statistical overview of the global space sector and its contributions to economic activity using data from over 40 countries with space programmes, and identifies new dynamics in the space sector.

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Insurance market for space activities

Although launching satellites appears to be a routine operation to the general public, there are still major risks involved. A branch of the insurance sector specifically covers the commercial space sector’s operations. The main risks covered still tend to be a failure at launch or mechanical troubles for large commercial telecommunications satellites. In addition to launch and deployment failure, space debris and solar storms pose collision and damage risks for satellites. The insured values usually cover the satellite’s replacement costs and/or the resulting business interruption.

English

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