From new satellite technology, to novel ways to launch, to commercial flights, the global space industry is advancing at a rapid pace, with expectations that it will be worth around US$1.8 trillion by 2035, when accounting for inflation — a significant leap from 2023’s estimated value of US$630 billion. Massive technology innovations and a lower cost to entry are propelling this growth.
Although major advances are bringing huge opportunities for the space industry and increasing the accessibility of space, senior leaders need to effectively address technical, financial, and regulatory challenges.
In this episode of Risk in Context, Stephen Monks and Adam Sturmer, both Managing Directors for Space Projects at Marsh, speak with Denis Bensoussan, Head of Space at Beazley Insurance, about the opportunities facing the industry and share advice on actions that leaders should consider to strategically manage evolving and emerging risks.