Recent availability of carbon nanotubes (CNTs) in quantities and formats amenable to producing macroscale components invites consideration of these materials in space applications where their attractive properties can enable the realization of bold concepts for affordable space exploration. The challenge is to identify relevant systems and quantify the benefits at the systems level. Before significant investment or adoption of CNTs for large aerospace systems can be justified, there must be a plausible path to attain the perceived systems level benefits. This challenging step requires a close collaboration among experts on CNTs and aerospace system communities. This paper provides an overview of a few relevant potential CNTs applications for space systems and the gap that must be overcome for deployment of CNTs. It also provides a simple engineering-level systems analysis approach to quantify the benefits of using CNTs over state of the art material solutions.