By 2020 the space industry is set to be worth over $500 billion worldwide and is on the cusp of rapid expansion in both capability and customers. Start-up companies are providing novel designs and services forcing the established operators to provide at a more affordable price. Cost overruns and project delays are commonplace within the space industry and even after completion and launch; projects continue to show an increased cost growth, performance erosion and a decrease in the overall value. These undesired outcomes are a consequence of the current requirement-based design methodology. Value-Centric Design addresses these undesirable outcomes by capturing the uncertainty and risk of design decisions during the satellite mission concept exploration phase of a Space Mission Life Cycle. This paper aims to demonstrate the concept of value with multiple key players of the space industry and provides the building blocks of VCD framework.