NEWTOWN, Conn. - Export credit financing has increased in importance in the industry in recent years. As credit markets dried up following the economic crisis, export credit agencies have stepped in to support exports of satellites, spacecraft components, and launch vehicles. The U.S. Export-Import (Ex-Im) Bank and French Coface are the major players in the industry. For example, the U.S. Ex-Im Bank has financed 60 percent of U.S. satellite exports between 2011 and 2012. The bank estimates it has provided about $1 billion in financing to satellite exporters since 2010. It expects to continue to operate at that tempo into the future. The Export-Import Bank of China has also increased its role in the industry in recent years.
Many times, manufacturers' ability to get a contract is influenced by their ability to secure export credit financing for their customers. For example, Lockheed Martin helped Australian satellite operator NewSat secure Ex-Im financing for its Jabiru-1. On the other side, Russian exporters believe they have lost out on contracts due to a lack of export financing. The Russian government intends to start an export credit agency, dubbed the Export Insurance Agency of Russia (EXIAR).
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