System engineering aspects, like concurrent engineering (CE) in the aerospace sector, has been studied by many authors. The change and evolution in this regard is continually influenced by the information technology advances. But global cooperation is only discussed by developed countries and high technology corporations.A review of CE and its ramifications in the aerospace industry is presented. Based on the current literature, the general lifecycle of a spacecraft and its phases are explained as well as the tools that are implemented in today's industry.In this paper we propose a new approach for the product development process in the spacecraft production industry the Aerospace Concurrent Engineering (ACE), which is mainly focused in the technology itself, its optimal design and environment impact rather than costs and marketing impact. And the potential of globally oriented research and implementation of space programs is discussed for its consideration.
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