With government spending in the Australian space sector increasing, there are a number of key attractors to investment from both foreign and local sources, including geography, security, regulation, education and economic factors.
Conclusions from the report include:
- How Australia is making strong advances in the space sector.
- While the Australian space agency may be young it is making an impact on the global stage; signing agreements with the world’s leading space agencies and companies and attracting additional funding to the local sector.
- The industry is growing revenue at a greater rate than the global economy with regular investment announced from local and foreign sources.
- Compared to Australia’s peers, there is still significant catching up to do.
- In order to move quickly and sustain the growth the sector is currently enjoying, government, industry and academia will have to work collaboratively and focus on key initiatives to grow the economy further.
This report has been developed through qualitative and quantitative analysis of a number of data sources, including IBIS World, OECD, ABS the Space Report and KPMG surveys and interviews involving a broad cross section of Australian space sector stakeholders.
How are KPMG involved in the space sector?
- Growing the space sector through accelerators and incubators.
- Unlocking space data for downstream industries.
- Supporting government space strategy, policy and investment.
- Supporting traditional market activity internationally, such as M&A, procurement and supply chain, systems and financial management, engineering, risk management services to space sector-facing companies.