Space Debris Insurance: A Bold Step Towards Safer Orbits

Arkisys and Odin Space Take on Space Debris with Innovative Insurance

California-based startup Arkisys, specializing in on-orbit servicing of spacecraft, and London-based Odin Space have teamed up to offer a new service: insurance for spacecraft against collisions with space debris. The insurance will be based on data from Odin Space’s sensors that detect debris impacts. Traditional insurance covers the entire mission’s risks, including satellite replacement, making it costly. The new service focuses on specific collision risks, reducing the policy cost.

In the upcoming Cutter mission by Arkisys, Nano Sensors from Odin Space will be installed to detect space debris. These sensors act as a “black box” for spacecraft, precisely determining the time and location of an impact. The collected data will help confirm whether damage was caused by a collision with debris or micrometeoroids.

The Cutter mission is designed for payload placement and cargo delivery in orbit, particularly to Arkisys Port modules. The new initiative aims to assure clients amidst the growing threat of space debris, without excessively increasing costs.

Advancements in Space Debris Detection

Odin Space is developing a system for predicting and monitoring dangerous debris smaller than a centimeter, which cannot be tracked from Earth. Even such small particles can cause significant damage: space debris travels at speeds of 7 to 8 kilometers per second, and the relative collision speed can reach 15 kilometers per second.

As of early 2025, the company secured $3 million in funding to develop their threat mapping solution using Nano Sensors and Scout satellites.

Impact on the Space Industry

This innovative insurance service could significantly impact the satellite industry, offering a cost-effective solution to mitigate risks associated with space debris. It could encourage more companies to invest in space technologies and exploration, knowing there is a safety net to protect their investments.