About Space Insurance
Space insurance is the arrangement with the company providing insurance facility for the covering of cost and reducing risk in case of any kind of uncertainty and gives a guarantee for the compensation for the loss, damage, death, accidents, etc. The space insurance is done by evaluating all the risk, space operation, and claims negotiation. The converges policy for space insurance includes manufacturing, pre-launch, launching, on-orbit, and many others.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
American International Group, Inc. (United States), Allianz SE (Germany), Marsh & McLennan Companies, Inc. (United States), AXA SA (France), Hiscox Ltd. (United Kingdom), Lloyd's of London (United Kingdom) and Munich Re Group (Germany) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Space Insurance market by Type (Space Assets Insurance and Space Liability Insurance), Application (Business, Scientific Research, Military and Other) and Region.
On the basis of geography, the market of Space Insurance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Coverage, the sub-segment i.e. Manufacturing will boost the Space Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Consumption of Space Insurance Among the Original Equipment Manufacturers
Market Growth Drivers:
Growing Privatisation and Commercialisation Across the World and Demand for Dealing with the Risk of Damage Involve in the Production of Space Products, Launch, etc
Challenges:
Stringent Regulatory Guidelines with the Space Insurance Policy
Restraints:
High-Cost Premium Investment in the will Space Insurance as it Covers Variouss Crucial Aspects of Space and Satellite Operation
Opportunities:
Growing Government Spenidngs on the Space and Satellite Industry and Rising Space Research and Development Activities will Boost the Space Insurance Market
Key Target Audience
Space Insurance Providers, Space and Satellite Industry Association, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.