2 mins read 20 May 2020

KPMG report: Every business will be a space business by 2030

A new report issued by KPMG Australia, featuring Australian space community voices – from start-ups to the Space Agency, states that by 2030 space will become an integral part of every business across Australia and the world.

Credit: ESA.

By the year 2030, every business will be a space business, existing terrestrial industries will have a presence in space, and space data will become completely commoditised. These are part of the 30 predictions listed in a new report issued by KPMG Australia – the collective thoughts of 30 expert space industry voices, including several prominent Australian and New Zealanders.

The new report, titled 30 Voices on 2030 – the future of space – outlines views and predictions of where and how our shared space presence, including the expected changes of the new space boom, will be by the year 2030.

The report features in-depth opinions and views from:

  • Australian Minister for Industry, Science and Technology – Hon. Karen Andrews
  • Head of Australian Space Agency, Dr. Megan Clarke
  • CEO of Australia’s Science Agency, Dr. Larry Marshall
  • Former Space Shuttle Commander and Australian Space Agency adviser, Pamela Melroy
  • Fleet Space CEO Flavia Tata-Nardini
  • Director of 3Ai and ANU Professor, Dr. Genevieve Bell
  • Vice President of Woodside Energy, Jason Crusan
  • NZ Rocketlab CEO, Peter Beck
  • Commercial space law specialist and WSU Professor, Steven Freeland

Artist illustration of the Eris Rocket by Australian company Gilmour Space Tech. Credit: Gilmour Space Technology.

The report also features a number of additional predictions, such as how humans will live, work and holiday in space, mining of Lunar resources, the establishment of food production in space, and a new consideration of space ecology and framework – an ecosystem with its own laws, and sustainable practices.

The report quotes a Morgan Stanley estimate that the global space industry will be valued at $600 billion by the end of the decade, with the fastest-growing area (55%) being unanticipated growth and the expansion of new markets like space debris management, as space traffic is increased over the coming years – fuelled by the plummeting cost of launch access.

Recently, both Australia and New Zealand have experienced a surge in space industry activity with the introduction of space agencies for both countries and a flourishing ecosystem of space-related businesses – including Earth Observation services (used for mining, agriculture, and science), data-service providers and a rapidly expanding space start-up sector. This boom has complemented the already established research and academic communities across both countries.

Tile image credit: ESA

Read the KPMG Australia Report here