The concept of on-orbit servicing has been present in the space industry for a long time. Although the initial attempts were quite successful, they took place 20 years ago and in terms of commercial activity were followed by a long period of stagnation. Though, during that time technology has substantially developed, especially in terms of robotics, with subsequent tests demonstrating spectacular successes and growing technological readiness. Other circumstances have apparently changed as well, among them the massive production of space debris, rapid shrinking of the orbital slots as well as changes in the space business models requiring an ever more agile approach. All of these are not, however, solely within the circle of interest of the satellite operators. Just as involved are the regulators and the policy makers, and OOS becomes one of the tools for achieving the objectives of sustainable space development promoted at a global level. All of this also concerns the insurance industry, and it should come as no surprise that there is no space mission without financing, and no financing without insurance. It is well known that insurers have accompanied space ventures since the very beginning. Their special role is, however, not limited to supporting financial schemes. There can be no doubt that the insurance industry has a vital role to play in the risk management processes, as it initially developed the risk management concepts and tools that were subsequently applied in all the industries. This is also the case with on-orbit servicing. In effect, a very interesting feedback loop may appear, whereby on-orbit services and the insurance market give each other a synergic burst of new possibilities. The author intends to explore the way in which the new type of space activities and insurance interact, while also enhancing sustainable development at the same time. Nowadays, OOS seems to be an emerging concept also commercially, welcomed with much hope and enthusiasm from the side of the space industry as well as space-faring countries. The potential of this idea is huge, as it can resolve at least some of the many sensitive issues, space debris being one of the most important. No doubt it first of all requires reliable technology, but also the management and legal aspects should be treated with lots of attention. Bearing that in mind, this chapter will focus on the risk management and insurance aspects. Thus the chapter is not aimed at discussing the technical possibilities of on-orbit servicing, nor at providing a detailed risk assessment, but instead will focus on risk management, with special attention given to insurance.
Risk Management and Insurance of On-Orbit Servicing
Studies in Space Policy
2020-09-08
21 pages
Aufsatz/Kapitel (Buch)
Elektronische Ressource
Englisch
Tema Archiv | 2009
|NTRS | 1975
|On-Orbit Servicing and Retrofitting
Springer Verlag | 2017
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