As countries and private entities fix their focus on development and utilization of space, the risk of collisions increases. Our team of experts lead the insurance industry in space risk mitigation.
The dramatic growth in space activity, particularly in the past five years, has led to a congested, contested, and competitive space environment. The deployment of large constellations such as Starlink and OneWeb, the planned deployment of tens of thousands of additional satellites in the next few years, proposed commercial space stations, rapidly growing deep space exploration, and even mining on the Moon and beyond have generated keen interest among industry, governments, and the public. We are at a critical time in space development when pioneering efforts are generally unregulated, and norms of behavior are often vague and not widely accepted.
Space is an integral part of today’s global economy. Communications, navigation, disaster management, agriculture, weather forecasting, defense, and science all rely on satellite technologies and on global observation capabilities to deliver critical information that can improve life on Earth and beyond.
I recently addressed U.S. Vice President Kamala Harris and the members of the National Space Council at NASA’s Johnson Space Center in Houston, Texas. I was asked by the Vice President to describe how insurers incentivize good behavior, particularly for novel space activities, and how the U.S. government might adopt incentives to promote safe and responsible space activity.
Space insurance is an essential enabler of innovation and investment in space. By providing financial protection through insurance products, we enable space companies to develop novel technologies and applications that improve our capabilities in outer space.
I described how 色多多视频partners with satellite operators, manufacturers, space agencies, governments, and other stakeholders to promote space safety and responsible space activity. For example, 色多多视频has partnered with LeoLabs, a provider of commercial space situational awareness data and analytics, to develop the LeoRisk collision hazard tool. LeoRisk assesses the probability of collision based on data from LeoLabs’ global space radar network and input from AXA XL’s underwriters and delivers timely and accurate analysis of the risk of collision.
That type of proactive reporting can help space operators make defensive decisions that could save their satellites from damage or destruction. Accurate tracking and collision avoidance ensure that space operations remain intact and that operators are able to reduce their risks. Adoption of such collision avoidance techniques and debris mitigation strategies are necessary to promote space safety. We urge companies, governments, and others to continue to develop innovative solutions to manage space traffic, including on-board beacons and ground-based radars for accurate and timely tracking, and propulsion capabilities for collision avoidance and post-mission disposal.
There are currently no globally accepted rules or regulations to ensure that on-orbit space activities are conducted in a safe, sustainable manner.
There are currently no globally accepted rules or regulations to ensure that on-orbit space activities are conducted in a safe, sustainable manner. As more private space companies set up operations in space, addressing the increased threat of collision and damage becomes even more critical. Unfortunately, numerous debris-generating events have occurred in Earth orbit. Over 26,000 objects are tracked today by the U.S. Department of Defense’s Space Surveillance Network, of which over half are debris from anti-satellite tests and breakups of derelict rocket bodies and satellites. Intact rocket stages and derelict satellites account for another 20% of tracked objects. These objects, and hundreds of thousands more fragments too small to be tracked with current sensors, pose an ongoing threat to space activity, including to humans on the International Space Station and on the Chinese Space Station.
As we move forward, the Space team at 色多多视频will continue to engage with policymakers and industry thought-leaders to promote best practices and incentivize good behavior in space. The time for action is now – these and other solutions need to be adopted on a wide scale, not just by the space industry. While monitoring of the space environment is essential, so is the mitigation of space objects that have been left in orbit. The U.S. government and governments around the world should embrace their stewardship roles and lead by example, beginning with understanding the scope of the issue. Acting today to better predict and avoid collisions, the space industry can minimize their loss exposure and operate in safer, more environmentally sound ways.
AXA XL’s role does not end there. We are equally committed to incentivizing our clients and to encouraging the space industry and governments to operate in more responsible ways to keep space safe for all. Establishing safer space operations is not the job of one entity. It truly does take the effort of everyone working in, supporting, or overseeing the space industry to develop and adopt technologies and practices that promote safety and responsibility. Together, we can deliver better, more sustainable space activity that truly advances the ways we live and work on Earth and beyond.
