Deloitte has announced that it will expand its consulting services for space companies.
Key Details
- Deloitte announced on Tuesday that it would be opening its consulting services more fully to the space economy and providing end-to-end professional services for space companies and startups.
- The firm says it is building off of 15 years of prior experience consulting with aerospace companies and government agencies to help promote public and private sector clients who see space as a business or growth opportunity.
- Deloitte says that the space economy is a “trillion-dollar opportunity,” as the rise of public-private partnerships with NASA and new startups will raise the value of the space economy to over $1 trillion within the next 20 years.
Why It’s Important
With the rapid growth of the space economy, consulting companies like BCG, Bain, and McKinsey are looking to this new economy as a place to offer their services. The future of space will be privatized, and Deloitte is positioning itself to take advantage of that market.
A new age began on November 16 when NASA successfully launched Artemis I aboard its new Space Launch System rocket, marking the first test flight of the rocket that will land American astronauts on the moon in 2025 for the first time since Apollo 17 in 1972.
A significant part of the push was NASA’s public pronouncements of public-private partnerships. The space agency wants to reach out into the private sector and partner with companies like Boeing, SpaceX, and hundreds of startups to provide services, support, and parts for the new space race. This will turn the space economy into a goldmine for venture capitalists and investors.
Backing Up A Bit
As we previously reported, small startups like Aquarian Space are rising to meet the moment, providing unique technical solutions to problems that are expected to arise with humanity’s return to the moon. The company is preparing to launch communications satellites that will provide internet connectivity and 4K video streaming services to astronauts, lunar rovers, and satellites surrounding the Moon.
The rise of low-earth satellite networks like Starlink also creates demand for reusable rocket technology. Companies like Boeing, Relativity Space, and SpaceX are rushing to meet the demand for satellite launches. SpaceX is on the cusp of testing the largest rocket ever built within the next week.
Notable Quote
“I think what you’re seeing on the private industry side is a lot of the sort of space business cases are closing or they can be projected to close,” Deloitte consultant Brett Loubert tells CNBC. “[Those who are seeking growth opportunities] and sort of framing is a way that I think we’re getting excited, again, both internally and externally, around not only what the industry looks like today, but what it is enabling for almost every other industry that we operate in.”