Australian space sector crosses AUD$5 billion revenue between 2018-2019

KPMG’s new Investment in the Australian Space Sector report has revealed the Australian space sector has crossed $5 billion in revenue.

The findings represent an increase of over five per cent over the past two years with estimated industry value added in 2018-19 around $3.4 billion in comparison to $1.4 billion in 2009 to 2010. KPMG estimates the strong growth of the value added by Australia’s space sector value to continue, with an estimated average of 8.6 per cent per annum through to 2023.

The burgeoning space innovation ecosystem in South Australia is playing a central role in the national growth of the sector, with KPMG pinpointing the establishment of the Australian Space Agency in Adelaide as a pivotal point in boosting Australia’s capabilities internationally. The Agency will stimulate growth in local employment, aiming to create 20,000 jobs by 2030, as well as tripling the space industry revenue to $12 billion.

Opening of Australian Space Agency

There are already over 60 space related organisations in the state which are emerging as globally recognised brands. Local businesses have a competitive advantage in capitalising on the growing national sector, with KPMG’s research showing that Australia’s space start-up companies can procure over 80 per cent of their products and services domestically.

The report shows that the Australian Space Market is made up 87 per cent start-ups while global companies such as Airbus and Boeing also make up a significant contribution. Adelaide has nurtured a strong presence of both at Lot Fourteen and beyond through a globally-renowned reputation of innovation and investment in research. BAE Systems, Boeing and Airbus Defence are amongst the global companies who have established offices in South Australian to take advantage of the thriving local space sector.

Local start-ups such as Myriota are making waves through revolutionising the Internet of Things (IoT) through nanosatellite communication technologies. The company became the first start-up outside of the U.S. to secure investment from Boeing HorizonX Ventures and has also penned a partnership with the Australian Space Agency to accelerate its growth.

Inovor Technologies, also based at Lot Fourteen, was selected by the CSIRO to design and integrate a new cube satellite that will detect and analyse infrared light to monitor land cover changes, such as flooding or deforestation, as well as detecting bushfires and studying weather formations.

The $245 million SmartSat Cooperative Research Centre (CRC) is situated within Lot Fourteen and features an extensive network of industry and research organisations along with start-ups such as Myriota and Fleet. The CRC program will develop advanced telecommunications and smart satellite systems to enhance Australia’s advanced communications and connectivity infrastructure, allowing real-time land and sea surveillance and sensing capability.