In a news release dated April 4, 2023, EY announced that progress in space development can offer enormous scientific, technological, social and commercial benefits for people and businesses. 

Deloitte Space, formally launched April 4, 2023, builds on the organization's 15 years of experience advising clients on coordinating, integrating and executing their space-related aspirations and includes access to a global network of advisors, technologists and scientists dedicated to helping organizations connect the unconnected and embrace the infinite opportunities space has to offer.

"The pace of innovation that we're seeing in space is staggering,” says Nishita Henry, chief innovation officer and principal, Deloitte Consulting LLP. “The amount of investment pouring into space-related initiatives from governments, businesses and private investment is creating tremendous opportunities for companies approaching space as a mission, a business of today or a future business opportunity. Deloitte is marshalling the full breadth of global resources to help these organizations achieve their space ambitions." 

Key takeaways of the venture are:

• Deloitte Space is an end-to-end professional services practice dedicated to advising organizations on the full possibilities of space, from strategic advisory and assurance services to deploying and operating space systems and services.

• Builds on 15 years of space work across public and private sector clients, including government organizations, top aerospace and satellite companies and other organizations that may stand to benefit from the opportunities space presents.
• Access to an integrated and globally connected network to help clients tap into the rapidly growing space sector, which is poised to impact everything from how we do business to how we improve our planet.

According to the press release, “the space economy has become one of the fastest-growing sectors. Valued at roughly $400 billion today, the space economy has grown by over 60% in the last decade and is forecasted to grow to more than $1 trillion by 2040. This opportunity is being fueled by the maturing commercial launch industry and the proliferation of satellite services in low-Earth orbit (LEO) — a market expected to grow from $40 billion today to as much as $312 billion by 2035. These advancements appear to be lowering barriers-to-entry and creating new business models, unlocking further innovation that is driving additional social and economic benefits.”

"Growing the ecosystem of space demands tremendous precision,” Henry added. “Our commercial and government clients rely every day on this signature capability, which we deliver across all our practices to our clients' advantage."

— Brett Loubert, Deloitte Space leader for the government and public sector, and principal, Deloitte Consulting LLP