Global Satellite Launch and Space Insurance Market 2018-2022

Let’s dissect some key facts about the satellite launch and space insurance industry in Technavio’s market research report below and how the leading space insurance market vendors are geared for a stellar growth.

Rising number of satellite launches is driving the demand for satellite launch and space insurance

Technavio’s analysts have identified the growing number of satellite launches as the major factor to drive the growth of the space insurance market during the forecast period. The demand for satellite-based services such as EO, climate monitoring, and reconnaissance is growing rapidly in many countries. Additionally, advancements of technology coupled with the development of small low-cost satellites and Nanosatellites is expected to contribute to the growth of the satellite launch and space insurance market in the coming few years. Several countries and private spaceflight companies are forecasted to increase their number of satellite launches will also make a favorable impact on the growth of satellite launch and space insurance market over the next five years.

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Allianz Global Corporate & Specialty, American International Group, and Atrium Underwriting Group are among the key vendors

Satellites and satellite launch vehicles are at high risk during the manufacturing stage owing to the fragility of components and the complex nature of their assembly. There are strong chances of damage to them during transportation to the launch site, integration, and the initial testing phase which compels most companies to growingly opt for satellite and space insurance. The growing demand for EO satellites is also expected to rein in new growth opportunities in the space insurance market. Predominantly, satellite operators are the end-users of satellite launch and space insurance due to the high risk associated with handling and transportation of the satellite launch vehicle. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this satellite launch and space insurance industry analysis report will aid clients to identify new growth opportunities and design innovative strategies for business expansion.

The report offers a complete analysis of some leading satellite launch and space insurance vendors:

• Allianz Global Corporate & Specialty
• American International Group
• Atrium Underwriting Group
• Brit Group Services
• elseco
• Global Aerospace
• Marsh & McLennan Companies
• Munich Re
• XL Group

EMEA will be the largest driver of the global satellite launch and space insurance market

Technavio’s market research report covers the following regions:

• EMEA
• The Americas
• APAC

More than 79% of the market’s incremental growth is expected to come from EMEA over the next five years, followed by the Americas and APAC. The demand for small satellites is high for applications such as scientific exploration and EO as their lower cost enables deployment of several satellites, which allows simultaneous measurement and collection of real-time data. The largest market share was held by the EMEA in 2017 owing to high owned capacity in the region. Also, EMEA and the Americas are forecasted to witness a steady growth, while APAC will experience a decline in their market shares during the next five years.

Key highlights of the global satellite launch and space insurance market for the forecast years 2018-2022:

• CAGR of the market during the forecast period 2018-2022
• Detailed information on factors that will accelerate the growth of the satellite launch and space insurance market during the next five years
• Precise estimation of the satellite launch and space insurance market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the satellite launch and space insurance industry across various geographies such as the Americas, EMEA, and APAC
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors
• Comprehensive information about factors that will challenge the growth of satellite launch and space insurance vendors

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This market research report analyzes the market outlook and provides a list of key trends, drivers, and challenges that are anticipated to impact the global satellite launch and space insurance market and its stakeholders over the forecast years.

Technavio’s analysts for the satellite launch and space insurance market have also considered how the performance of other related markets in the vertical will impact the size of this market until 2022. Some of the markets most likely to influence the growth of the satellite launch and space insurance over the coming years are the reinsurance market and the insurance brokerage market.

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