Two companies, Arkisys and Odin Space, are collaborating to offer specialized insurance for spacecraft against collisions with space debris. This marks a significant step toward mitigating the growing threat posed by orbital junk, which travels at speeds high enough to destroy satellites even from tiny impacts.
The Problem of Space Debris
Space debris – including defunct satellites, rocket parts, and microscopic fragments – orbits Earth at extremely high velocities (roughly 4.5 to 9.3 miles per second). Even sub-centimeter particles can cause catastrophic damage due to these speeds, making collisions a major risk for operational spacecraft. Traditional insurance premiums often cover entire missions, including satellite replacement, which can be prohibitively expensive for many operators.
The New Approach: Targeted Collision Insurance
Arkisys, a California-based on-orbit services startup, is partnering with London-based Odin Space to provide collision-specific insurance. This new approach leverages Odin Space’s advanced debris detection technology, including its Nano Sensors, which act like a “black box” for spacecraft. These sensors pinpoint the exact moment and location of impacts, allowing for forensic verification of damage claims.
How It Works: From Detection to Verification
Arkisys’s upcoming Cutter mission will carry Odin Space’s sensors, enhancing its ability to detect and monitor debris threats. The Nano Sensors will provide verifiable data in the event of a collision, streamlining the insurance claim process. This differs from current systems, which often rely on broader mission coverage and can be less efficient for specific debris-related incidents.
Implications for the Space Economy
This partnership is expected to lower the financial barriers to operating in space, particularly for companies involved in the emerging in-space economy. The availability of affordable, targeted insurance will encourage more businesses to develop commercial innovations in orbit without bearing the full risk of debris impacts.
“We see this partnership as one of the key enablers for the new in-space circular economy to enable thousands of new customers to develop new commercial innovations in space,” says Arkisys CEO David Barnhart.
Beyond Insurance: Tracking the Untrackable
Odin Space is also focused on tracking and mapping sub-centimeter debris, which is too small for ground-based radar to detect. The company recently secured $3 million in seed funding to expand its Nano Sensor and Scout Satellite networks, further enhancing its ability to monitor these previously invisible threats.
This collaboration between Arkisys and Odin Space represents a critical step toward a more sustainable space environment, where risks are better quantified, insurance is more accessible, and commercial innovation can flourish without being stifled by the ever-present danger of orbital debris.
