The global space insurance market is set for continued growth as satellite launches accelerate and orbital missions become more complex, according to the “Space Insurance Market Report 2026” released by ResearchAndMarkets.com.
The report estimates the market will expand to $4.43 billion in 2026, up from $4.06 billion in 2025, reflecting a compound annual growth rate (CAGR) of 9.1%. Growth is being underpinned by a rising volume of commercial satellite launches, increasing demand for end-to-end mission coverage, and heightened exposure to third-party liability risks as orbital congestion intensifies.
Insurers are also responding to longer launch delays, more intricate mission profiles and the scaling of satellite constellations by adjusting pricing models and expanding specialist reinsurance capacity, the report said.
By 2030, the market is forecast to reach $6.23 billion, growing at a CAGR of 8.9%. ResearchAndMarkets identified several longer-term drivers, including the rollout of mega-constellations, the emergence of on-orbit servicing and refuelling missions, and the expansion of insurance products tied to lunar exploration, deep-space missions and commercial human spaceflight.
Advances in actuarial modelling are expected to play a larger role, particularly in pricing risks linked to space debris and collision probability. The report also points to growing participation from private insurers seeking exposure to high-value space assets.
Launch activity remains a central demand driver. The Satellite Industry Association reported that 259 orbital launches in 2024 contributed to higher global space-sector revenues, reinforcing the need for insurance coverage spanning launch, deployment and in-orbit operations.
Product innovation is emerging across the sector. In 2024, Tata AIG introduced India’s first satellite in-orbit third-party liability insurance, reflecting the country’s expanding commercial space footprint. Earlier, Tokio Marine Holdings partnered with Axelspace Holdings to integrate satellite data into insurance and disaster-response solutions.
Key insurers and reinsurers active in the market include Munich Re, AXA XL, Tokio Marine Holdings, Tata AIG, and Lloyd’s of London.
North America accounted for the largest share of the space insurance market in 2025, with growing activity also reported across Asia-Pacific and Europe, supported by expanding satellite manufacturing, launch capacity and regulatory frameworks.
The report covers insurance segments including launch, in-orbit, end-of-life, satellite and spacecraft insurance, with applications spanning communications, Earth observation, navigation, scientific missions and space habitats. End users include government agencies, commercial operators, launch providers, space tourism firms and academic institutions.
Source: InsuranceMagz
