Space

All sectors in the United Kingdom will increasingly be impacted by space capabilities including Earth Observation Data and Communications. KPMG will be at the forefront of helping clients to exploit these capabilities. The scope of possibilities is vast and space technology can be used in unconventional sectors, with prominent examples including: Crop futures traders know the growth of all crops daily, remotely tracking the status of off shore windmills, manufacturing perfect silicon crystals, alloys and pharmaceuticals in orbit.

KPMG must help its clients from all sectors navigate the risks and opportunities that are presented by the development of the UK’s space capabilities.

With the space sector offering vast opportunities in all sectors, the commercial possibilities are equally as big, with the financial perspective offering opportunities and challenges in the era of space commercialisation for businesses throughout the value chain. With a quickly expanding number of startups, with offerings such as commercial space launch services, geospatial intelligence and satellite communications, venture capital firms will play a big role in providing funding and backing for firms looking to establish themselves in the sector and drive commercial opportunities across the space industry. As these firms grow, they will need support with transformation, risk and strategy advice, alongside the core finance and tax services at which KPMG specialise.

Space offers presents collaboration prospects for all partners in space ecosystems, but especially for aerospace primes as they share technology, clients, and payload delivery systems. The difficulties of space exploration mean that ride-sharing is common place, and will only become more prevalent as companies join forces and create multi-functional systems. The Space Primes also present KPMG with vast opportunity, particularly in collaborating and creating partnerships opportunities. Their broad range of services offers KPMG a breadth of opportunities for support as they grow their space capabilities, especially as they invest heavily in new technologies, companies, and regions.

With Defence and National Security a large focus of space activities, it is important for MOD and government departments to remain at the forefront of space development, both in terms of governance and technology. The additional challenge for public sector agencies is preserving national interests and safeguarding critical capabilities. KPMG already assisted in establishing the UK Space Command agency within the RAF, and can offer experience in transforming new strategies to maximise the value that can be obtained from the opportunities that space can offer.