PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1126464
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1126464
Space Tourism Market Forecasts to 2028 - Global Analysis By Type, Destination, Product, and By Geography
According to Stratistics MRC, the Global Space Tourism Market is accounted for $726.4 billion in 2022 and is expected to reach $1742 billion by 2028 growing at a CAGR of 15.7% during the forecast period. Space tourism is another niche segment of the aviation industry that seeks to give tourists the ability to become astronauts and experience space travel for recreational, leisure, or business purposes. Space tourism allows travellers to travel in and from corner to corner the Earth's orbit for spare time, recreation, or business intention. Space tourism is predictable to make travel reachable to lie and non astronaut individuals in the future years.
The space tourism industry is officially open for business, and tickets are going for a mere $20 million for a one-week stay in space. Despite reluctance from NASA, Russia made American businessman Dennis Tito the world's first space tourist. Tito flew into space aboard a Russian Soyuz rocket that arrived at the International Space Station on April 30, 2001.
Market Dynamics:
Driver:
Technological advancements
Dependable transformations in technology are proliferating the command for the space tourism market globally. Furthermore, the technological advancements in the field of space travel are boosting the development of spacecraft and better-quality rockets at a strong velocity. Additionally, the improved research & development tricks are near enough speedy developments and innovations in terms of forward motion systems, spacecraft models, along with tourist experience. As well, a number of nations are pronouncement opportunities generated by enormous investments from the government over and above nongovernment institutions. Such aspects together contribute to the development of the global space tourism market.
Restraint:
High Cost
The cost of space tourism will be high and recent advancements in space tourism and intense competition within leading aerospace firms is expected to continue to keep costs high. This factor is expected to restrain affordability among a number of individuals or companies and hamper global sub-orbital transportation and space tourism market growth to a substantial extent over the forecast period.
Opportunity:
Rising trend of space tourism
The trend of space tourism is increasingly fast appreciation is projected to speed up the growth of the market throughout the forecast timeframe. As well, the mounting conclusion in the space tourism industry is anticipated to decline the cost of space tourism. Furthermore, the price of receiving into space is captured to reject quickly while the next generation space planes can achieve the orbit. Therefore, the cost of introduction satellites are likely to trim down significantly, which is reducing the in general payments over space exploration missions. Therefore, space travel will become an inexpensively feasible solution more than the years.
Threat:
Technical risks
Still however space missions are approved out profitably for more than half a century; there are a bundle of technical risks close to commercial, high number space flights used for space tourism. The probability of incidence of unfavorable events like as rearrangement and abandonment of launch, abortion of flight and hammering of life and or spaceship is very high. Industry operators are mandatory to invest considerably on safety and excellence reassurance.
COVID-19 Impact
COVID-19 pandemic is highly exaggerated the commercial aviation industry, restrictive individuals from traveling for leisure time and business requirements. The hinder in the travel and tourism industry has affected the expansion of the space tourism market. This impact is estimated to extend space missions and for the moment halt long drag travel missions. The increase in travel by business jets and in flight connectivity has open up innovative possibilities for supersonic or hypersonic flights. It permitted the companies to attain the possible of time saving on long pull flights when compared to other mediums.
The Sub-orbital segment is expected to be the largest during the forecast period
Based on type, the market is classified into orbital and suborbital. The sub-orbital segment dominated the overall market, gaining a market share durimg the forecast period and projected a CAGR of space tourism market. Suborbital tourism permits individuals to experience lightness and examine space without essentially exit the Earth's orbit. These enable human spaceflight to arrive at the edge of space with no transfer the vehicle into orbit. A suborbital flight is operated at subordinate speeds than an orbital flight. Therefore, these flights do not have enough acceleration to get to orbit. These flights fly up to a definite height and slide down to the ground when the engines close down. Companies are concentrating more on beginning suborbital flights as they can use again the rockets, thus saving on their manufacturing costs.
The commercial segment is expected to have the highest CAGR during the forecast period
Based on end use the market is segmented into Commercial and Government. The commercial space tourism market is anticipated to take over the market with highest CAGR during the forecast period. In the previous year, there were thirteen commercial spaceflight missions undertaken by more than a few private and government organizations, of which seven missions were performed productively. Billionaires invested substantial sums in travelling to space and projected the Earth from above.
Region with highest share:
North America led the overall market in 2021, with a market share of 38.3%. The region is equipped with a highly developed infrastructure and owns an extensive research and development base, allowing the region to be the top revenue contributor in the worldwide market during the projected period. A well-established infrastructure has allowed the speedier implementation of modern technologies. The significant presence of small and medium players in North America, which offer components and services to the giants such as SpaceX, Blue Origin, and Virgin Galactic, has also propelled the market growth. The U.S. is expected to retain its dominance over the forecast period owing to the inclination of high-net-worth individuals towards space tourism and growing technological investments in the region.
Region with highest CAGR:
The Asia-Pacific is expected to develop substantially by the projection period and grow at a CAGR of 37.5%. Significant contributors to the growth of the Asia-Pacific market include the China National Space Administration (CNSA), the Indian Space Research Organization (ISRO), and Japan Aerospace Exploration Agency (JAXA). CAS Space, a Chinese Academy of Sciences (CAS) spinoff, has been developing rockets for commercial satellite launches.
Key players in the market
Some of the key players profiled in the Market include Armadillo Aerospace, Space Adventures, Space Exploration Technologies Corp., Blue Origin, Spacex, EADS Astrium, Virgin Galactic, The Boeing Company, Zero 2 Infinity, Orion Span, Space Island Group, Excalibur Almaz, Limited, Airbus Group SE, World View Enterprises, Exos Aerospace Systems & Technologies, Axiom Space, Space Perspective, Bigelow Aerospace.
Key Developments:
In February 2019, Virgin Galactic sent test passenger Beth Moses on Virgin Galactic's spaceflight. The spacecraft with capacity of six passengers along with two pilots charged $250,000 each.
In May 2020, US-based aerospace company SpaceX launched two astronauts into orbit re-using Falcon 9 rocket that initially carried the crew into orbit. This is considered to be a major technological achievement for the company as reuse of rockets leads to significant cost savings for space exploration.
In 2020, Blue Origin aimed at starting its test flights for consumers, however, this plan has been put on hold due to COVID-19 pandemic.
Types Covered:
- Sub-orbital
- Orbital
Destinations Covered:
- Earth Orbit
- Moon
- Mars
- Ceres
- Venus
Products Covered:
- Atmospheric Zero-Gravity Flights
- Aircraft Replacement Flights
- High Altitude Jet Fighter Flights
Applications Covered:
- The Rich
- Civilians
- Enterprise
End Users Covered:
- Commercial
- Government
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Product Analysis
- 3.7 Application Analysis
- 3.8 End User Analysis
- 3.9 Emerging Markets
- 3.10 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Space Tourism Market, By Type
- 5.1 Introduction
- 5.2 Sub-orbital
- 5.3 Orbital
6 Global Space Tourism Market, By Destination
- 6.1 Introduction
- 6.2 Earth Orbit
- 6.3 Moon
- 6.4 Mars
- 6.5 Ceres
- 6.6 Venus
7 Global Space Tourism Market, By Product
- 7.1 Introduction
- 7.2 Atmospheric Zero-Gravity Flights
- 7.3 Aircraft Replacement Flights
- 7.4 High Altitude Jet Fighter Flights
8 Global Space Tourism Market, By Applications
- 8.1 Introduction
- 8.2 The Rich
- 8.3 Civilians
- 8.4 Enterprise
9 Global Space Tourism Market, By End use
- 9.1 Introduction
- 9.2 Commercial
- 9.3 Government
10 Global Space Tourism Market, By Geography
- 10.1 Introduction
- 10.2 North America
- 10.2.1 US
- 10.2.2 Canada
- 10.2.3 Mexico
- 10.3 Europe
- 10.3.1 Germany
- 10.3.2 UK
- 10.3.3 Italy
- 10.3.4 France
- 10.3.5 Spain
- 10.3.6 Rest of Europe
- 10.4 Asia Pacific
- 10.4.1 Japan
- 10.4.2 China
- 10.4.3 India
- 10.4.4 Australia
- 10.4.5 New Zealand
- 10.4.6 South Korea
- 10.4.7 Rest of Asia Pacific
- 10.5 South America
- 10.5.1 Argentina
- 10.5.2 Brazil
- 10.5.3 Chile
- 10.5.4 Rest of South America
- 10.6 Middle East & Africa
- 10.6.1 Saudi Arabia
- 10.6.2 UAE
- 10.6.3 Qatar
- 10.6.4 South Africa
- 10.6.5 Rest of Middle East & Africa
11 Key Developments
- 11.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 11.2 Acquisitions & Mergers
- 11.3 New Product Launch
- 11.4 Expansions
- 11.5 Other Key Strategies
12 Company Profiling
- 12.1 Armadillo Aerospace
- 12.2 Space Adventures
- 12.3 Space Exploration Technologies Corp.
- 12.4 Blue Origin
- 12.5 Spacex
- 12.6 EADS Astrium
- 12.7 Virgin Galactic
- 12.8 The Boeing Company
- 12.9 Zero 2 Infinity
- 12.10 Orion Span
- 12.11 Space Island Group
- 12.12 Excalibur Almaz, Limited
- 12.13 Airbus Group SE
- 12.14 World View Enterprises
- 12.15 Exos Aerospace Systems & Technologies
- 12.16 Axiom Space
- 12.17 Space Perspective
- 12.18 Orion Span
- 12.19 Bigelow Aerospace
List of Tables
- Table 1 Global Space Tourism Market Outlook, By Region (2020-2028) ($MN)
- Table 2 Global Space Tourism Market Outlook, By Type (2020-2028) ($MN)
- Table 3 Global Space Tourism Market Outlook, By Sub-orbital (2020-2028) ($MN)
- Table 4 Global Space Tourism Market Outlook, By Orbital (2020-2028) ($MN)
- Table 5 Global Space Tourism Market Outlook, By Destination (2020-2028) ($MN)
- Table 6 Global Space Tourism Market Outlook, By Earth Orbit (2020-2028) ($MN)
- Table 7 Global Space Tourism Market Outlook, By Moon (2020-2028) ($MN)
- Table 8 Global Space Tourism Market Outlook, By Mars (2020-2028) ($MN)
- Table 9 Global Space Tourism Market Outlook, By Ceres (2020-2028) ($MN)
- Table 10 Global Space Tourism Market Outlook, By Venus (2020-2028) ($MN)
- Table 11 Global Space Tourism Market Outlook, By Product (2020-2028) ($MN)
- Table 12 Global Space Tourism Market Outlook, By Atmospheric Zero-Gravity Flights (2020-2028) ($MN)
- Table 13 Global Space Tourism Market Outlook, By Aircraft Replacement Flights (2020-2028) ($MN)
- Table 14 Global Space Tourism Market Outlook, By High Altitude Jet Fighter Flights (2020-2028) ($MN)
- Table 15 Global Space Tourism Market Outlook, By Applications (2020-2028) ($MN)
- Table 16 Global Space Tourism Market Outlook, By The Rich (2020-2028) ($MN)
- Table 17 Global Space Tourism Market Outlook, By Civilians (2020-2028) ($MN)
- Table 18 Global Space Tourism Market Outlook, By Enterprise (2020-2028) ($MN)
- Table 19 Global Space Tourism Market Outlook, By End use (2020-2028) ($MN)
- Table 20 Global Space Tourism Market Outlook, By Commercial (2020-2028) ($MN)
- Table 21 Global Space Tourism Market Outlook, By Government (2020-2028) ($MN)
- Table 22 North America Space Tourism Market Outlook, By Country (2020-2028) ($MN)
- Table 23 North America Space Tourism Market Outlook, By Type (2020-2028) ($MN)
- Table 24 North America Space Tourism Market Outlook, By Sub-orbital (2020-2028) ($MN)
- Table 25 North America Space Tourism Market Outlook, By Orbital (2020-2028) ($MN)
- Table 26 North America Space Tourism Market Outlook, By Destination (2020-2028) ($MN)
- Table 27 North America Space Tourism Market Outlook, By Earth Orbit (2020-2028) ($MN)
- Table 28 North America Space Tourism Market Outlook, By Moon (2020-2028) ($MN)
- Table 29 North America Space Tourism Market Outlook, By Mars (2020-2028) ($MN)
- Table 30 North America Space Tourism Market Outlook, By Ceres (2020-2028) ($MN)
- Table 31 North America Space Tourism Market Outlook, By Venus (2020-2028) ($MN)
- Table 32 North America Space Tourism Market Outlook, By Product (2020-2028) ($MN)
- Table 33 North America Space Tourism Market Outlook, By Atmospheric Zero-Gravity Flights (2020-2028) ($MN)
- Table 34 North America Space Tourism Market Outlook, By Aircraft Replacement Flights (2020-2028) ($MN)
- Table 35 North America Space Tourism Market Outlook, By High Altitude Jet Fighter Flights (2020-2028) ($MN)
- Table 36 North America Space Tourism Market Outlook, By Applications (2020-2028) ($MN)
- Table 37 North America Space Tourism Market Outlook, By The Rich (2020-2028) ($MN)
- Table 38 North America Space Tourism Market Outlook, By Civilians (2020-2028) ($MN)
- Table 39 North America Space Tourism Market Outlook, By Enterprise (2020-2028) ($MN)
- Table 40 North America Space Tourism Market Outlook, By End use (2020-2028) ($MN)
- Table 41 North America Space Tourism Market Outlook, By Commercial (2020-2028) ($MN)
- Table 42 North America Space Tourism Market Outlook, By Government (2020-2028) ($MN)
- Table 43 Europe Space Tourism Market Outlook, By Country (2020-2028) ($MN)
- Table 44 Europe Space Tourism Market Outlook, By Type (2020-2028) ($MN)
- Table 45 Europe Space Tourism Market Outlook, By Sub-orbital (2020-2028) ($MN)
- Table 46 Europe Space Tourism Market Outlook, By Orbital (2020-2028) ($MN)
- Table 47 Europe Space Tourism Market Outlook, By Destination (2020-2028) ($MN)
- Table 48 Europe Space Tourism Market Outlook, By Earth Orbit (2020-2028) ($MN)
- Table 49 Europe Space Tourism Market Outlook, By Moon (2020-2028) ($MN)
- Table 50 Europe Space Tourism Market Outlook, By Mars (2020-2028) ($MN)
- Table 51 Europe Space Tourism Market Outlook, By Ceres (2020-2028) ($MN)
- Table 52 Europe Space Tourism Market Outlook, By Venus (2020-2028) ($MN)
- Table 53 Europe Space Tourism Market Outlook, By Product (2020-2028) ($MN)
- Table 54 Europe Space Tourism Market Outlook, By Atmospheric Zero-Gravity Flights (2020-2028) ($MN)
- Table 55 Europe Space Tourism Market Outlook, By Aircraft Replacement Flights (2020-2028) ($MN)
- Table 56 Europe Space Tourism Market Outlook, By High Altitude Jet Fighter Flights (2020-2028) ($MN)
- Table 57 Europe Space Tourism Market Outlook, By Applications (2020-2028) ($MN)
- Table 58 Europe Space Tourism Market Outlook, By The Rich (2020-2028) ($MN)
- Table 59 Europe Space Tourism Market Outlook, By Civilians (2020-2028) ($MN)
- Table 60 Europe Space Tourism Market Outlook, By Enterprise (2020-2028) ($MN)
- Table 61 Europe Space Tourism Market Outlook, By End use (2020-2028) ($MN)
- Table 62 Europe Space Tourism Market Outlook, By Commercial (2020-2028) ($MN)
- Table 63 Europe Space Tourism Market Outlook, By Government (2020-2028) ($MN)
- Table 64 Asia Pacific Space Tourism Market Outlook, By Country (2020-2028) ($MN)
- Table 65 Asia Pacific Space Tourism Market Outlook, By Type (2020-2028) ($MN)
- Table 66 Asia Pacific Space Tourism Market Outlook, By Sub-orbital (2020-2028) ($MN)
- Table 67 Asia Pacific Space Tourism Market Outlook, By Orbital (2020-2028) ($MN)
- Table 68 Asia Pacific Space Tourism Market Outlook, By Destination (2020-2028) ($MN)
- Table 69 Asia Pacific Space Tourism Market Outlook, By Earth Orbit (2020-2028) ($MN)
- Table 70 Asia Pacific Space Tourism Market Outlook, By Moon (2020-2028) ($MN)
- Table 71 Asia Pacific Space Tourism Market Outlook, By Mars (2020-2028) ($MN)
- Table 72 Asia Pacific Space Tourism Market Outlook, By Ceres (2020-2028) ($MN)
- Table 73 Asia Pacific Space Tourism Market Outlook, By Venus (2020-2028) ($MN)
- Table 74 Asia Pacific Space Tourism Market Outlook, By Product (2020-2028) ($MN)
- Table 75 Asia Pacific Space Tourism Market Outlook, By Atmospheric Zero-Gravity Flights (2020-2028) ($MN)
- Table 76 Asia Pacific Space Tourism Market Outlook, By Aircraft Replacement Flights (2020-2028) ($MN)
- Table 77 Asia Pacific Space Tourism Market Outlook, By High Altitude Jet Fighter Flights (2020-2028) ($MN)
- Table 78 Asia Pacific Space Tourism Market Outlook, By Applications (2020-2028) ($MN)
- Table 79 Asia Pacific Space Tourism Market Outlook, By The Rich (2020-2028) ($MN)
- Table 80 Asia Pacific Space Tourism Market Outlook, By Civilians (2020-2028) ($MN)
- Table 81 Asia Pacific Space Tourism Market Outlook, By Enterprise (2020-2028) ($MN)
- Table 82 Asia Pacific Space Tourism Market Outlook, By End use (2020-2028) ($MN)
- Table 83 Asia Pacific Space Tourism Market Outlook, By Commercial (2020-2028) ($MN)
- Table 84 Asia Pacific Space Tourism Market Outlook, By Government (2020-2028) ($MN)
- Table 85 South America Space Tourism Market Outlook, By Country (2020-2028) ($MN)
- Table 86 South America Space Tourism Market Outlook, By Type (2020-2028) ($MN)
- Table 87 South America Space Tourism Market Outlook, By Sub-orbital (2020-2028) ($MN)
- Table 88 South America Space Tourism Market Outlook, By Orbital (2020-2028) ($MN)
- Table 89 South America Space Tourism Market Outlook, By Destination (2020-2028) ($MN)
- Table 90 South America Space Tourism Market Outlook, By Earth Orbit (2020-2028) ($MN)
- Table 91 South America Space Tourism Market Outlook, By Moon (2020-2028) ($MN)
- Table 92 South America Space Tourism Market Outlook, By Mars (2020-2028) ($MN)
- Table 93 South America Space Tourism Market Outlook, By Ceres (2020-2028) ($MN)
- Table 94 South America Space Tourism Market Outlook, By Venus (2020-2028) ($MN)
- Table 95 South America Space Tourism Market Outlook, By Product (2020-2028) ($MN)
- Table 96 South America Space Tourism Market Outlook, By Atmospheric Zero-Gravity Flights (2020-2028) ($MN)
- Table 97 South America Space Tourism Market Outlook, By Aircraft Replacement Flights (2020-2028) ($MN)
- Table 98 South America Space Tourism Market Outlook, By High Altitude Jet Fighter Flights (2020-2028) ($MN)
- Table 99 South America Space Tourism Market Outlook, By Applications (2020-2028) ($MN)
- Table 100 South America Space Tourism Market Outlook, By The Rich (2020-2028) ($MN)
- Table 101 South America Space Tourism Market Outlook, By Civilians (2020-2028) ($MN)
- Table 102 South America Space Tourism Market Outlook, By Enterprise (2020-2028) ($MN)
- Table 103 South America Space Tourism Market Outlook, By End use (2020-2028) ($MN)
- Table 104 South America Space Tourism Market Outlook, By Commercial (2020-2028) ($MN)
- Table 105 South America Space Tourism Market Outlook, By Government (2020-2028) ($MN)
- Table 106 Middle East & Africa Space Tourism Market Outlook, By Country (2020-2028) ($MN)
- Table 107 Middle East & Africa Space Tourism Market Outlook, By Type (2020-2028) ($MN)
- Table 108 Middle East & Africa Space Tourism Market Outlook, By Sub-orbital (2020-2028) ($MN)
- Table 109 Middle East & Africa Space Tourism Market Outlook, By Orbital (2020-2028) ($MN)
- Table 110 Middle East & Africa Space Tourism Market Outlook, By Destination (2020-2028) ($MN)
- Table 111 Middle East & Africa Space Tourism Market Outlook, By Earth Orbit (2020-2028) ($MN)
- Table 112 Middle East & Africa Space Tourism Market Outlook, By Moon (2020-2028) ($MN)
- Table 113 Middle East & Africa Space Tourism Market Outlook, By Mars (2020-2028) ($MN)
- Table 114 Middle East & Africa Space Tourism Market Outlook, By Ceres (2020-2028) ($MN)
- Table 115 Middle East & Africa Space Tourism Market Outlook, By Venus (2020-2028) ($MN)
- Table 116 Middle East & Africa Space Tourism Market Outlook, By Product (2020-2028) ($MN)
- Table 117 Middle East & Africa Space Tourism Market Outlook, By Atmospheric Zero-Gravity Flights (2020-2028) ($MN)
- Table 118 Middle East & Africa Space Tourism Market Outlook, By Aircraft Replacement Flights (2020-2028) ($MN)
- Table 119 Middle East & Africa Space Tourism Market Outlook, By High Altitude Jet Fighter Flights (2020-2028) ($MN)
- Table 120 Middle East & Africa Space Tourism Market Outlook, By Applications (2020-2028) ($MN)
- Table 121 Middle East & Africa Space Tourism Market Outlook, By The Rich (2020-2028) ($MN)
- Table 122 Middle East & Africa Space Tourism Market Outlook, By Civilians (2020-2028) ($MN)
- Table 123 Middle East & Africa Space Tourism Market Outlook, By Enterprise (2020-2028) ($MN)
- Table 124 Middle East & Africa Space Tourism Market Outlook, By End use (2020-2028) ($MN)
- Table 125 Middle East & Africa Space Tourism Market Outlook, By Commercial (2020-2028) ($MN)
- Table 126 Middle East & Africa Space Tourism Market Outlook, By Government (2020-2028) ($MN)
