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Master'sAerospace, UAM, Drones & Space Applications open

Master’s in Space & UAM Business and Finance Engineering

Online master's programme of 1,900 hours in space and UAM business and finance engineering. 12 modules covering the space economy, the urban air mobility market, business models, financial modelling, company valuation, financing, programme costs, risks and insurance, regulation as a business factor, strategy and entrepreneurship, with an assigned technical tutor.

Duration1900 h
ModeOnline
LanguageEnglish
Start datesSet by the faculty
AwardSEIUM Institute diploma
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Learning outcomes

What you will be able to do

01

Analyse the space and urban air mobility markets.

02

Build financial models for projects and companies in the sector.

03

Value technology companies using methods suited to their stage.

04

Assess the technical, regulatory and market risks of new businesses.

05

Structure public and private financing operations.

06

Design commercial strategies and business models.

07

Integrate the regulatory framework into business planning.

Profile

Who it's for

  • Financial analysts covering the space sector.
  • Business development managers.
  • Aerospace strategy consultants.
  • Venture capital investment analysts.
  • Space programme managers.
  • UAM product managers.
  • Engineering or science graduates looking to enter the space industry.
Standards & tools

What you'll work with

  • 1967 Outer Space Treaty (principles governing activities in outer space)
  • Implementing Regulation (EU) 2019/947 (UAS operations)
  • Delegated Regulation (EU) 2019/945 (unmanned aircraft systems)
  • Implementing Regulation (EU) 2021/664 (U-space regulatory framework)
  • SC-VTOL-01 (special condition for VTOL aircraft)
  • IFRS 16 (leases)
  • IAS 38 (intangible assets)
  • ECSS-M-ST-60C (cost and schedule management)
  • Excel with financial models
  • Crystal Ball
  • PitchBook
  • Power BI
  • STK (Systems Tool Kit)
Syllabus

12 modules · 1900 h

  1. 1.1Size and segments of the space economy
  2. 1.2Value chain: manufacturing, launch and services
  3. 1.3From institutional space to NewSpace
  4. 1.4Agency budgets and programmes
  5. 1.5Economics of reusable launchers
  6. 1.6Earth observation services
  7. 1.7Satellite connectivity
  8. 1.8Navigation and positioning services
  9. 1.9Economic indicators for the sector
  10. 1.10Case study: analysis of the launcher market
  1. 2.1UAM and AAM concepts
  2. 2.2eVTOL aircraft and the main players
  3. 2.3Use cases: air taxi, logistics and emergencies
  4. 2.4Vertiport infrastructure
  5. 2.5Demand forecasts and scepticism
  6. 2.6Integration with U-space
  7. 2.7Social acceptance and noise
  8. 2.8Technological and certification barriers
  9. 2.9The delivery drone market
  10. 2.10Workshop: demand estimate for a UAM route
  1. 3.1Data and services business models
  2. 3.2Satellite as a service and shared platforms
  3. 3.3Subscription and pay-per-use models
  4. 3.4Vertical integration versus specialisation
  5. 3.5B2G, B2B and B2C models
  6. 3.6Ecosystems and platforms
  7. 3.7Value proposition and segmentation
  8. 3.8The business model canvas
  9. 3.9Notable business failures
  10. 3.10Case study: business model canvas for an Earth observation start-up
  1. 4.1Structure of a financial model
  2. 4.2Revenue and adoption forecasting
  3. 4.3Capital and operating costs
  4. 4.4Learning curves and unit costs
  5. 4.5Cash flows and working capital
  6. 4.6Scenarios and sensitivity analysis
  7. 4.7Monte Carlo simulation
  8. 4.8Good modelling practice
  9. 4.9Presenting to investors
  10. 4.10Practical exercise: financial model of a constellation
  1. 5.1Discounted cash flow
  2. 5.2Comparable sector multiples
  3. 5.3The venture capital method
  4. 5.4Real options in space projects
  5. 5.5Valuation of intangible assets
  6. 5.6Valuation of pre-revenue companies
  7. 5.7SPAC transactions and their performance
  8. 5.8Technical and financial due diligence
  9. 5.9Common valuation mistakes
  10. 5.10Lab: valuation of a start-up with real options
  1. 6.1Public and institutional funding
  2. 6.2ESA and European Commission programmes
  3. 6.3Venture capital and investment stages
  4. 6.4Debt, leasing and asset finance
  5. 6.5Export credit agencies
  6. 6.6Anchor contracts with governments
  7. 6.7IPOs and acquisitions
  8. 6.8Financing UAM infrastructure
  9. 6.9Structuring a round
  10. 6.10Workshop: structuring a funding round
  1. 7.1Parametric cost estimation
  2. 7.2NASA and ESA cost models
  3. 7.3Cost and schedule management to ECSS-M-ST-60C
  4. 7.4Earned value management
  5. 7.5Fixed-price and cost-plus contracts
  6. 7.6Cost overrun risks
  7. 7.7Supplier management
  8. 7.8Programme indicators
  9. 7.9Programme reviews
  10. 7.10Case study: cost estimate for a microsatellite
  1. 8.1Technical and launch risks
  2. 8.2Market and competitive risks
  3. 8.3Regulatory and geopolitical risks
  4. 8.4Launch and in-orbit insurance
  5. 8.5Insurance for UAM operations
  6. 8.6Enterprise risk management
  7. 8.7Risk matrices and mitigation
  8. 8.8Civil liability and third-party damage
  9. 8.9Reinsurance and market capacity
  10. 8.10Practical exercise: risk matrix for a space business
  1. 9.1National space licences
  2. 9.2Spectrum and ITU coordination
  3. 9.3Certification of eVTOL aircraft
  4. 9.4European UAS regulations
  5. 9.5The U-space regulatory framework
  6. 9.6Export controls
  7. 9.7Competition and State aid
  8. 9.8Data regulation
  9. 9.9Impact on lead times and costs
  10. 9.10Case study: regulatory route for a UAM service
  1. 10.1Strategic and competitive analysis
  2. 10.2Market entry strategies
  3. 10.3Sales to institutional customers
  4. 10.4Sales to commercial customers
  5. 10.5Pricing and revenue models
  6. 10.6Strategic alliances and industrial consortia
  7. 10.7B2B technology marketing
  8. 10.8Internationalisation and access to foreign markets
  9. 10.9Scaling operations
  10. 10.10Workshop: go-to-market plan for a service
  1. 11.1Founding an aerospace start-up
  2. 11.2Founding team and talent
  3. 11.3Corporate governance and advisory board
  4. 11.4Intellectual property and patents
  5. 11.5ESA accelerators and incubators
  6. 11.6Growth indicators
  7. 11.7Crisis management and pivots
  8. 11.8Sustainability and ESG criteria
  9. 11.9Ethics and responsibility
  10. 11.10Case study: analysis of a space start-up
  1. 12.1Defining the business opportunity
  2. 12.2Market and competitor analysis
  3. 12.3Business model design
  4. 12.4Building the financial model
  5. 12.5Valuation and financing
  6. 12.6Risk analysis
  7. 12.7Regulatory route and required licences
  8. 12.8Conclusions and recommendations
  9. 12.9Master's Thesis report
  10. 12.10Master's Thesis: defence before a panel
Methodology, software & labs

How you'll learn

Training is 100% online on the SEIUM campus, with downloadable material, recorded classes and an assigned technical tutor. There are no fixed timetables: you progress at your own pace within each intake, so the programme is compatible with work.

Each module combines theory, guided reading of the original regulation and applied exercises. The working software is Excel with financial models, Crystal Ball, PitchBook, Power BI and STK (Systems Tool Kit), in free, academic or evaluation versions. Exercises are based on real cases: a financial model for a constellation, the valuation of a space start-up and a market analysis for urban air mobility. Assessment is continuous per module, plus the final Master's Thesis.

Standards covered: the 1967 Outer Space Treaty, Implementing Regulation (EU) 2019/947, Delegated Regulation (EU) 2019/945, Implementing Regulation (EU) 2021/664, SC-VTOL-01, IFRS 16, IAS 38 and ECSS-M-ST-60C.

Assigned technical tutor:every module ends with a deliverable that your tutor marks individually.
Standards-based learning:guided reading of the EU UAS and U-space regulations, SC-VTOL-01, IFRS 16 and ECSS-M-ST-60C applied to real cases, not as a theoretical annex.
Industry software:Excel with financial models, Crystal Ball, PitchBook, Power BI and STK (Systems Tool Kit), in free, academic or evaluation versions.
Master's Thesis with defence:a complete business plan for a space or UAM opportunity, with financial model, valuation, financing, risks and regulatory route, defended before a panel.
Flexible format:100% online, no fixed timetables, compatible with full-time work.
Capstone project

Build it end to end

Your final project follows the real engineering workflow, step by step, reviewed by your tutor.

UAM route demand estimate
Estimate demand for an urban air mobility route and size the service.
Constellation financial model
Build a financial model for a satellite constellation with scenarios and Monte Carlo simulation.
Start-up valuation
Value a space start-up using DCF, multiples and real options.
Funding round structure
Structure a funding round combining public grants, venture capital and anchor contracts.
Master's Thesis
A complete business plan for a space or UAM opportunity, defended before a panel.
Career opportunities

Where this takes you

Space sector financial analystBusiness development managerAerospace strategy consultantVenture capital investment analystSpace programme managerUAM product manager
Admissions & scholarships

Requirements

  • University degree in engineering, science or architecture, or equivalent demonstrable professional experience.
  • An internet connection and a computer able to run the programme software.
  • English sufficient to read technical standards.

Ready to start?

Send your application today. Our admissions team replies within 72 hours with your study plan and funding options.

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FAQ

Frequently asked questions

The programme totals 1,900 hours over 12–14 months. You set your own pace within each intake, and your tutor helps you plan the workload around your job.

You work with Excel with financial models, Crystal Ball, PitchBook, Power BI and STK (Systems Tool Kit), using free, academic or evaluation versions. Your tutor indicates the free alternative wherever one exists.

A SEIUM Institute diploma, awarded on passing the continuous assessment and the Master's Thesis. It is SEIUM's own qualification, not an official state degree; its recognition depends on the programme completed and the regulations of each country.

Yes. Modules passed in a course or postgraduate diploma in the same area are recognised in the higher programme. Ask about the recognition policy when you enrol.

A university degree in engineering, science or architecture (or equivalent professional experience), a computer able to run the software and English sufficient to read technical standards.

Start dates are set by SEIUM's faculty for each intake. Our admissions team will confirm the next available date when you apply.

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