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NewSpace: Bringing the new frontier closer to home

A new report on the current and future developments in the space sector

When people think of the space industry, what often comes to mind are things unconnected to daily lives such as rocket ships and resupplying the space station. However, there is another side to the space industry – one that enables people to carry out their daily lives – such as putting satellites into orbit that support our car navigation systems. The upstream part of the sector is undergoing a rapid transformation. As it does so, it is building new capabilities and unlocking new opportunities, as well as opening itself up to new risks.

NewSpace: Bringing the new frontier closer to home

This new Lloyd’s report, published in association with London Economics, provides an overview of current and future developments in the space sector. It provides comprehensive analysis of the upstream sector so that risk managers in companies that are or will be involved in the industry, and all Lloyd’s market stakeholders, can begin to understand the potential impacts on their businesses and how to benefit from new opportunities.

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To build understanding we have also produced a guide to NewSpace insurance for customers to raise awareness about the complementary role of insurance to mission assurance.

NewSpace is growing rapidly, and will create an increasingly interconnected world. To grow safely and thoughtfully I needs to be underpinned by insurance and all classes will need to collaborate to offer customers the products and services that will secure their futures.