Omnicom’s Brodeur Partners has established a space group to help clients exploit the potential offered by space travel, asteroid mining and exploration.
"Space exploration and development could be the biggest business opportunity since the computer," said Brodeur Partners chairman John Brodeur, who is leading the practice.
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The Federal Aviation Administration estimates the size of the global space industry at $324 billion, with government spending accounting for only 24 percent of that total. According to consulting firm NewSpace Global, there are nearly 1,000 private space companies today, up from 125 companies in 2011. That number is expected to hit 10,000 by 2026.
That leaves a lot of room in which the so-called NewSpace economy can develop. Emerging companies are working on plans to develop satellites, organize space tours, mine asteroids, and conceptualize cities on Mars.
Through its Relevance platform, Brodeur Space Partners will help entrepreneurial space companies with such projects as formulating narratives and communications strategies, developing the space environment responsibility and sustainably, and creating meaningful and authentic brands.
In the near term, Brodeur's entrepreneurial space activity will focus on Earth observation satellites, which are already gathering data that provide new insights about population, development, agriculture, forestation, groundwater detection and more. Other satellites under development will offer faster internet service for underserved regions.
Brodeur is sponsoring a webinar, "Entrepreneurs in Space: The Communications Challenges," at 1 p.m. on Wednesday, Oct. 18. Along with John Brodeur, the webinar will feature Brodeur Space Group co-leader Frank White and Dylan Taylor, founding partner of Space Angels, a global network of commercial aerospace investors and entrepreneurs. Click here to register.
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