Satellite, tourism, and space development companies drive new economic opportunities
The NewSpace economy is here as emerging companies develop satellites, organize space tours in space, plan to mine asteroids, and imagine cities on Mars. These developments are gathering momentum as the federal government actively supports the private space push, and household-name consumer companies reimagine the possibilities of life and commerce in space.
“Space exploration and development could be the biggest business opportunity since the computer,” said John Brodeur, chairman of Brodeur Partners, who is leading the practice. “For 60 years, government-led space exploration showed the world what was possible. Nimble entrepreneurs are now taking over, turning to space for learning, adventure, and novel solutions to earthly problems.”
Through its platform of Relevance, Brodeur will help entrepreneurial space companies:
- Create narratives and integrated communications strategies.
- Distinguish themselves in a crowded investor market through influencer and digital channels.
- Differentiate themselves in a competitive market pioneered by celebrities like Sir Richard Branson, Jeff Bezos, and Elon Musk.
- Develop the space environment responsibly, sustainably, and equitably.
- Create an exciting, meaningful, and authentic brand.
The Brodeur Space Group is co-led by Frank White, author of The Overview Effect: Space Exploration and Human Evolution. “Space exploration and development offers the world a tremendous opportunity to improve the quality of life on Earth, create dynamic economic systems, and gain a new perspective on ourselves and our planet,” said White.
In the near term, Brodeur’s entrepreneurial space activity will focus on Earth observation satellites that can be as small as a toaster. They are already giving us new insights about population, development, agriculture, forestation, groundwater detection, and more. Other satellites will offer faster internet service for underserved regions.
The new practice is part of Brodeur’s model and strategic platform based on Relevance. Brodeur’s Relevance platform combines creative insight and analytics to drive behavior change by making meaningful connections with important audiences. Brodeur CEO Andrea “Andy” Coville has detailed the communications approach in a book titled “Relevance: The Power to Change Minds and Behavior and Stay Ahead of the Competition.”
“Because of our heritage in technology and behavioral science, we been able to move into markets where technology, entrepreneurship and science come together,” says Coville. “Our clients are now changing and challenging categories like automotive, sports, healthcare and infrastructure, and now, space.”
Brodeur is sponsoring a webinar, “Entrepreneurs in Space: The Communications Challenges,” on Wednesday, Oct. 18, 2017. Click here to register.
– The global NewSpace industry has grown nearly eightfold in the last six years. Consulting firm NewSpace Global tracks around 1,000 private space companies today, up from 125 companies in 2011. It expects to track 10,000 companies by 2026.
– Global space industry spending is estimated at $324 billion by the FAA, of which only 24 percent is government spending.
– Worldwide satellite industry revenue was $261 billion in 2016, according to the Satellite Industry Association.
– The small satellite market is estimated to be worth $2.92 billion in 2017 and is projected to reach $7.53 billion by 2022.
– Since 2000, investors have poured more than $13 billion into space-related start-ups and established companies.
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