2025–2032

In 1965 Lloyd’s of London issued the first space insurance policy for an early Intelsat satellite. In 2019 insured losses reached about $788 million against roughly $500 million in premiums, following major failures such as a Vega launch with a ~$414 million loss. The global space insurance market was valued at about $3.6 billion in 2023 and is forecast to reach about $12 billion by 2032, with a CAGR in the 8–11% range. A record 180 orbital launches occurred in 2022, driving launch-insurance demand. In 2024 North America accounted for about $1.7 billion of the market (projected to $3.2 billion