Hardware and life science projects usually have more time to research and prepare than the hour of weekly estimation provided by silly agile orgs.
Also, how frequently do hardware and life science projects go far over budget and under scope? Do their estimates matter?
As I said, if you have $5MM, you'll get what you get for $5MM. If you want to spend a boatload of time researching, your estimate might be closer, but that research isn't free.