Global Space Tourism Market By Overview
Introduction:
Space Tourism Market is the recreational travel of people in space. Space tourism is another niche segment of the aviation industry that seeks to attract tourists to become astronauts and experience space travel for entertainment, leisure or business purposes. Since space tourism is extremely expensive, it is a case of a very small segment of consumers who are able and willing to purchase a space experience. Space tourism can include visiting space-focused museums, watching rocket launches, or traveling to popular destinations for stargazing, among other space-related activities. This is the Kerman line where the atmospheric lift no longer supports the flying object. Space travel is defined as any flight operation carrying one or more passengers into space beyond an altitude of 100 km. The tourism industry is experiencing rapid transformation as more consumers are interested in space travel. Growing applications of space tourism in numerous end-use sectors are driving the market. Technological advancement is an important trend in the space tourism industry. To lead this industry, top essential players are working on innovative technologies. This will give the reader an advantage over others as an informed decision can be taken by looking at the market as a whole. Space Tourism Market accounted for US$ 810.3 Million in 2022 and is estimated to be US$ 21,575.9 Million by 2032 and is anticipated to register a CAGR of 36.6%..
Global Space Tourism Market By Dynamics
Decline in costs and increasing commercialization of space tourism
Factors such as changing consumer spending preferences on once-in-a-lifetime experiences and increasing commercialization of space tourism are driving the demand for the global space tourism market. The overall cost of space travel has fallen significantly from the initial cost level of approx. $600,000 to $250,000. The customer base of this market includes only those customers who are at the top of the top 1% income bracket. With the reduction in prices, new consumer groups are expected to enter the market who are willing to pay a higher premium price for an once-in-a-lifetime space experience. Over the next few years, the price is expected to remain below $2000 per kilogram. A further drop in prices is expected to open up space tourism to a larger population and increase potential customers.
Technological advancement
The tourism industry is experiencing rapid transformation as more consumers are interested in space travel. A major trend affecting space tourism is the decline in the cost of space tourism and technological advances such as the focus on reusability of rockets. Space tourism will allow for more space exploration, making space science more accessible to individuals. Since space is expensive at the moment, do some research and these flights will offer much lower costs, Space tourism is help to make a new technologies. More space science implies new inventions and most technologies are based on transformations initiated in space. Running shoes, bulletproof vests, foam mattresses, etc. These are some of the technologies that we got from the lunar space visit. For instance, In September 2022, want to go to space? The China to charge you at least $2, 87,200 per seat. As space tourism becomes the new norm, China wants a bigger piece of that pie. The China National Space Administration (CNSA) plans to launch tourist flights into space by 2025 and expects to charge passengers $287,200 to $430,800, about 2-3 million Yuan per seat.
Global Space Tourism Market By Segmentation
Source: Prophecy Market Insights
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
The Global Space Tourism Market is segmented based on type, application, and region.
On the basis of type, the Global Space Tourism Market is segmented into Suborbital and Orbital. On the basis of application, the target market is classified into Civilians and Rich. Suborbital tourism allows individuals to experience weightlessness and observe space without leaving Earth's orbit. This enables human spaceflight to reach the edge of space without sending a vehicle into orbit. Orbital and suborbital flights are based on vehicle speed. Suborbital flight is operated at a lower speed than orbital flight. So these flights do not have enough acceleration to reach orbit. These flights fly up to a certain altitude and land on the ground after the engine shuts down.
Regional Insights:
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
On region the Global Space Tourism Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is estimated to lead the space tourism market due to high investment in space tourism and presence of advanced technology in the region. Asia Pacific is expected to expand at a significant growth rate during the period 2021 to 2028 due to increasing government investment and research on space tourism.
Report Scope:
|
Attribute |
Details |
|
Base year for estimation |
2020 |
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Forecast period |
2020 – 2030 |
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Market representation |
Revenue in USD Million & CAGR from 2020 to 2030 |
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Market Segmentation |
By Type - Suborbital and Orbital By Application - Civilians and Rich |
|
Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the Global Space Tourism Market report based on type, application, and region:
Global Space Tourism Market, By Type:
- Suborbital
- Orbital
Global Space Tourism Market, By Application:
- Civilians
- Rich
Global Space Tourism Market, By Region:
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- North America
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- U.S.
- Canada
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- Europe
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- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
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- Asia Pacific
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- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
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- Latin America
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- Brazil
- Mexico
- Rest of Latin America
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- Middle East & Africa
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- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
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- North America
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Global Space Tourism Market By Key Players
The key players operating the Global Space Tourism Market includes Space Adventures Ltd., EADS, Astrium GmbH, Virgin Galactic LLC, Armadillo Aerospace LP, Excalibur Almaz USA, Inc., Space Island Group LLC, SpaceX Exploration Technologies Corp., Boeing Co., Zero 2 Infinity SL, XCOR Aerospace, Inc., Elon Musk’s SpaceX. Prominent players operating in the target market are focusing on the strategic partnerships as well as launching of the products in order to gain competitive edge in the target market. For instance, In July 2022, Elon Musk’s SpaceX Company Making Space Tourism Available To More Travelers, The rise of space tourism has become a hot topic in recent years, as billionaire-led, private-sector companies Elon Musk’s SpaceX compete to start supplying civilians with recreational launches into the Earth’s outer limits. Another leading firm, Space Perspective, is also on the verge of transporting explorers on free missions to the ends of space, this time using carbon-neutral technology. Space Perspective bills itself as "the world's first luxury spaceflight experience company," according to Travel + Leisure.
Global Space Tourism Market By Company Profile
- Space Adventures Ltd*
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- EADS
- Astrium GmbH
- Virgin Galactic LLC
- Armadillo Aerospace LP
- Excalibur Almaz USA, Inc.
- Space Island Group LLC
- SpaceX Exploration Technologies Corp.
- Boeing Co.
- Zero 2 Infinity SL
- XCOR Aerospace, Inc.
- Elon Musk’s SpaceX
“*” marked represents similar segmentation in other categories in the respective section
Global Space Tourism Market By Table of Contents
Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Applications
- Key Industry Insights
- Secondary Data
- Major Secondary Applications
- Secondary Applications
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for Space Tourism Strategies
- Key Questions this Study will Answer
- Market Snippet, By Type
- Market Snippet, By Application
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global Space Tourism Market, By Type, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Suborbital
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Orbital
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global Space Tourism Market, By Application, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Civilians
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Rich
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global Space Tourism Market, By Region, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
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- Space Adventures Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- EADS Astrium GmbH
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Virgin Galactic LLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Armadillo Aerospace LP
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Excalibur Almaz USA, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Space Island Group LLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- SpaceX Exploration Technologies Corp.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Boeing Co.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Zero 2 Infinity SL
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- XCOR Aerospace, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Space Adventures Ltd.
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- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The Global Space Tourism Market report segments the market on the basis of type, application, end user, and region.
Over the forecast period, rising travel and tourist expenditure is expected to boost global demand for space tourism. The market for space travel is expected to grow as investments in space tourism increase.
North America migraine drugs market is expected to account for major revenue share in Global Space Tourism Market, followed by other regions.
The leading players operating in the Global Space Tourism Market includes Space Adventures Ltd., EADS Astrium GmbH, Virgin Galactic LLC, Armadillo Aerospace LP, Excalibur Almaz USA, Inc., Space Island Group LLC, SpaceX Exploration Technologies Corp. , Boeing Co., Zero 2 Infinity SL and XCOR Aerospace, Inc.