Space Nations Trends & Implications
Didier PARSOIRE – SCOR Global P&C
Laurent LEMAIRE – elseco
International Union of Aerospace Insurers
Bengaluru, 2015
Increased number of Space Nations
70
60
50
40
30
20
10
0
1970
1984
1989
1994
1999
2004
2009
2014
Countries having ordered & launched at least one satellite
Countries having manufactured at least one satellite
Source: Spacetrak / SCOR / elseco
International Union of Aerospace Insurers
Bengaluru, 2015
Space Nations in 1970
Space Nations: Countries having launched a satellite
International Union of Aerospace Insurers
Bengaluru, 2015
Space Nations in 1990
Space Nations: Countries having created a Space Agency or launched a GEO satellite
International Union of Aerospace Insurers
Bengaluru, 2015
Space Nations in 2000
Space Nations: Countries having created a Space Agency or launched a GEO satellite
International Union of Aerospace Insurers
Bengaluru, 2015
Space Nations in 2015
And growing…
International Union of Aerospace Insurers
Bengaluru, 2015
Space Nations
(by number of satellites ordered)
1990
2000
2015
USA/RUSSIA/EUROPE REST OF THE WORLD
Source: Spacetrak / SCOR
International Union of Aerospace Insurers
Bengaluru, 2015
What are the drivers for a country to invest in space?
• Business & Trade
International Union of Aerospace Insurers
Bengaluru, 2015
Information & Communication Technologies development
in Africa
Total African Mobile Connections and
Penetration Rate (million, penetration rate)
Mobile Broadband Connections in Africa
(million)
Source: GSMA - Africa Mobile Observatory, 2011
International Union of Aerospace Insurers
Bengaluru, 2015
What are the drivers for a country to invest in space?
• Business & Trade
• National Security & Global Intelligence
International Union of Aerospace Insurers
Bengaluru, 2015
Demand for Earth Observation Satellites
Launched between
2007 and 2012
Launched between
2001 and 2006
Others High Growth Markets
21%
Russia
8%
Others High Growth Markets
42%
Mature Markets
44%
Mature Markets
54%
China
17%
China
11%
Russia
3%
24 satellites
36 satellites
Split of Civil Earth Observation Satellites by region of operator
Source: SCOR & SpaceTrak
International Union of Aerospace Insurers
Bengaluru, 2015
What are the drivers for a country to invest in space?
• Business & Trade
• National Security & Global Intelligence
• Know‐How & Development of High‐tech Industry
International Union of Aerospace Insurers
Bengaluru, 2015
Example of the United Arab Emirates
“Our vision is to have advancing sustainable development, and driving the
vision for a knowledge economy in the UAE”
•
2006 – Creation of Emirates Space Institute (EIAST)
•
2009 – DUBAISAT 1, 1st UAE Observation Satellite made by UAE & Korea
•
2013 – Launch of DUBAISAT 2
•
2015 – Creation of UAE Space Center & the UAE Space Agency
•
2017 – KHALIFASAT will be the 1st 100% UAE manufactured satellite
•
2021 – The UAE will launch its 1st MARS Mission
International Union of Aerospace Insurers
Bengaluru, 2015
What are the drivers for a country to invest in space?
• Business & Trade
• National Security & Global Intelligence
• Know‐How & Development of High‐tech Industry
• Political, National Pride & Long Term Strategy International Union of Aerospace Insurers
Bengaluru, 2015
Example of India
“Our vision is to harness space technology for national development, while
pursuing space science research and planetary exploitation”
•
•
•
•
•
•
•
1975 - 1st Indian SC of 350 kg
1980 - 1st Indian Low earth orbit SC on Indian small SLV LV
1993 - 1st Indian medium PSLV LV
2001 - 1st Indian big GSLV LV
2008 - 1st Indian Moon mission
2013 - 1st Indian Mars mission
2014 - 1st Indian Communication SC of 2000 kg on Indian big GSLV
cryogenic LV
INDIA is a space leading nation
•
Future – ISRO is developing a reusable launch vehicle for human
spaceflight and lunar explorations.
International Union of Aerospace Insurers
Bengaluru, 2015
Across all spectrum of
the space Business
Civil
Military
Telecommunications
Space Exploration
Launch Vehicle
Observation
Intelligence
Security
International Union of Aerospace Insurers
Bengaluru, 2015
What are the challenges for the Insureds?
• The Insured have less experience
• Specific local legal framework & wordings
• Hybrid satellite mixing technologies & less heritage
• Currency & other financial requirements
International Union of Aerospace Insurers
Bengaluru, 2015
What are the opportunities for the Insurers?
• Additional fast growing business • Get closer to clients to work better with them
• New requirements = interesting challenges
• Enable underwriters to differentiate their offers
International Union of Aerospace Insurers
Bengaluru, 2015
Conclusion
• Space business is growing
• Space Insurance is still not a commodity
• Space underwriters have to adapt to diversity
International Union of Aerospace Insurers
Bengaluru, 2015
Those challenges require an intelligent approach to risk management, pioneering market risk analysis and sophisticated, Made for Purpose, underwriting products for our clients.
Thank you.
International Union of Aerospace Insurers
Bengaluru, 2015