Satellite Industry Growth and Space Debris

SOURCE www.axios.com
Earth gained a record number of satellites last year, leading to congested orbits and increased risk of collisions and space debris. The satellite industry's growth poses challenges for space operations and insurance.

Key Points

  • 2,877 satellites launched in 2023, a 15% increase from the previous year
  • Over 3,300 inactive satellites in orbit taking up valuable space
  • Concerns about space debris and challenges for space insurance industry

Pros

  • Advancements in satellite technology
  • Potential for improved communication and data collection

Cons

  • Increased risk of collisions and space debris
  • Challenges for space insurance industry