Your Shopping Cart Is Empty
| Report Code: A10674 | Dec 2022 | Pages: 334 | ||
| Tables: 41 | Charts: 26 |
| |
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Space Tourism Market
Request Now !The space tourism market size was $598.4 million in 2021 and is expected to reach $12,690.6 million by 2031, registering a CAGR of 36.4% from 2022 to 2031.
The COVID-19 epidemic has had a significant impact on the commercial aviation sector and has prevented many people from traveling for both leisure and business. The growth of the space tourism market has been hampered by setbacks in the travel and tourism sector. It is believed that this effect may lengthen space missions and momentarily halt long-haul missions. There are now more options for supersonic and hypersonic flights because of the expansion of corporate jet travel and in-flight connectivity. When compared to other mediums, it has enabled the companies to realize the potential for time savings on long-haul flights.
Space tourism is human space travel for recreational purposes. There are several different types of space tourism, including orbital and suborbital. Space tourism is a type of vacation where travelers pay to fly into space. The phrase "space tourism" has evolved to refer to the practice of regular people purchasing tickets for trips to and from space. This concept is considered futuristic by many. But since more and more expert work has been done on the topic in recent years, it is now evident that establishing commercial space tourism services is a viable business goal in the present day.
The space tourism industry is projected to be fueled by the rise in technological advancements, consistent transformations in technology are proliferating the demand for the space tourism market globally. Moreover, technological advancements in the field of space travel are fueling the development of spacecraft and superior rockets at a robust pace. This way, space tourists are allowed to travel into space and gain the expected experience. Moreover, major emerging economies across the globe are exploring space programs, which, in turn, is anticipated to fuel the space tourism market growth.
Moreover, the rising trend of space tourism is the major driver which propels the Space tourism market demand. The market for space tourism is expected to grow faster than expected throughout the projected period as the practice becomes more widely accepted in international markets. In addition, it is anticipated that increasing competition in the space tourism sector will drive down prices. Furthermore, as the orbit is reached by the next-generation space planes, the cost of entering space is anticipated to fall sharply. As a result, the price of launching satellites is probably going to drop significantly, which would lower the overall cost of space exploration operations. Such factors are propelling the space tourism market growth.
Additionally, a decline in the costs of space tourism flights is also a key factor boosting market growth. The downfall in the ticket prices of space tourism is attracting a large number of consumers. A journey into space now costs only $250,000 overall, down from its initial price of roughly $600,000. Customers that typically fall among the top 1% of income earners make up the entire client base for this market.
Moreover, the focus on Research and Development (R&D) initiatives by market players is creating many opportunities in the space tourism market. There are numerous commercial suborbital spacecraft being developed right now, each with a different set of characteristics. The Suborbital Applications Research Group (SARG), founded by the Commercial Spaceflight Federation, aims to increase public awareness of the research and educational possibilities of the suborbital reusable launch vehicles now under development.
However, technical risks with these types of activities are a factor hampering the growth of the market. Despite the fact that space missions have been successfully conducted for more than 50 years, there are many technical dangers associated with commercial, high-volume space flights employed for space tourism.
Additionally, Strict Government rules related to spaceships are restraining the market growth.
The Space tourism market forecast is segmented on the basis of type, end use, and region. On the basis of type, the market is classified into orbital and sub orbital. By end use, the market is bifurcated into Government, and commercial. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By Type, the Space tourism market is segmented into orbital, and sub orbital. The sub orbital segment accounted for a major space tourism market share in 2021, and is expected to grow at a significant CAGR during the forecast period. Sub orbital tourism packages that can provide the longest duration of zero-gravity and the most thrilling Earth view from space to its consumer can be considered superior than the others. Suborbital tourism is on the rise as it allows individuals to experience weightlessness and observe space without actually exiting the Earth's orbit. As a result, human spaceflight can reach the edge of the universe without entering orbit.
By end use, the Space tourism market is segmented into Government, and commercial. The commercial segment accounted for a major share in the Space tourism market in 2021, and is expected to grow at a significant CAGR during the forecast period. Commercial space tourism means the private companies in the space industry such as space x, blue origin, and others. The commercial space tourism market is rising and expected to dominate the market. There were thirteen commercial spaceflight missions undertaken by several private and government organizations, of which seven missions were executed successfully. Billionaires have invested considerable sums in traveling to space and witnessing the Earth from above. Such factors are surging the demand for this segment in the near future.
By region, the space tourism market is segmented into North America, Europe, Asia-Pacific, and LAMEA. The North America Space tourism market is accounted for a major share in the Space tourism market in 2021 and is expected to grow at a significant CAGR during the forecast period. The area has a highly developed infrastructure and a sizable research and development base, which will enable it to dominate the global market in terms of revenue throughout the anticipated time. Modern technology has been implemented more quickly thanks to an established infrastructure.
The major players operating in the market focus on key market strategies, such as mergers, product launches, acquisitions, collaborations, and partnerships. They have been also focusing on strengthening their market reach to maintain their goodwill in the ever-competitive market. Some of the key players in the Space tourism market include Blue Origin, Virgin Galactic, SpaceX, Airbus Group SE, Boeing, ZERO-G, Axiom Space, Bigelow Aerospace, Orion Span, Space Adventures, Space Perspective, World View Enterprises, Zero2Infinity.
KEY BENEFITS FOR STAKEHOLDERS
Space Tourism Market Report Highlights
| Aspects | Details |
|---|---|
| By Type |
|
| By End Use |
|
| By Region |
|
| Key Market Players | Boeing, Virgin Galactic, Airbus Group SE, Zero2Infinity, Bigelow Aerospace, Blue Origin, SpaceX, World View Enterprises, Space Perspective, Orion Span, Axiom Space, Space Adventures, ZERO-G |
CHAPTER 1:INTRODUCTION
1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Research methodology
1.4.1.Secondary research
1.4.2.Primary research
1.4.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
2.1.Key findings of the study
2.2.Snapshot
2.3.CXO perspective
CHAPTER 3:MARKET OVERVIEW
3.1.Market definition and scope
3.2.Key findings
3.2.1.Top investment pockets
3.3.Porter’s five forces analysis
3.4.Market dynamics
3.4.1.Drivers
3.4.1.1.Technological advancements to foster the growth
3.4.1.2.Rising trend of space tourism to boost the demand
3.4.2.Restraints
3.4.2.1.Technical risks
3.4.2.2.Strict Government Rules Related to Spaceships
3.4.3.Opportunities
3.4.3.1.Decline in costs
3.4.3.2.Focus on Research and Development (R&D) initiatives
3.5.Market share analysis
3.5.1.By Type
3.5.2.By End Use
3.5.3.By Regions
3.6.COVID-19 impact on the Space tourism market
3.6.1.Multiple Scenario
CHAPTER 4:SPACE TOURISM MARKET, BY TYPE
4.1.Overview
4.1.1.Market size and forecast by Type
4.2.Orbital
4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region
4.3.SUB ORBITAL
4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region
CHAPTER 5:SPACE TOURISM MARKET, BY END USE
5.1.Overview
5.1.1.Market size and forecast by end use
5.2.Government
5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region
5.3.Commercial
5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region
CHAPTER 6:SPACE TOURISM MARKET, BY REGION
6.1.Overview
6.1.1.Market size and forecast
6.2.North America
6.2.1.Overview
6.2.2.Key market trends, growth factors, and opportunities
6.2.3.Market size and forecast, by Type
6.2.4.Market size and forecast, by end use
6.2.5.Market size and forecast, by country
6.2.5.1.U.S.
6.2.5.1.1.Market size and forecast, by Type
6.2.5.1.2.Market size and forecast, by end use
6.2.5.2.Canada
6.2.5.2.1.Market size and forecast, by Type
6.2.5.2.2.Market size and forecast, by end use
6.3.Europe
6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by Type
6.3.3.Market size and forecast, by end use
6.3.4.Market size and forecast, by country
6.3.4.1.Russia
6.3.4.1.1.Market size and forecast, by Type
6.3.4.1.2.Market size and forecast, by end use
6.3.4.2.Germany
6.3.4.2.1.Market size and forecast, by Type
6.3.4.2.2.Market size and forecast, by end use
6.3.4.3.UK
6.3.4.3.1.Market size and forecast, by Type
6.3.4.3.2.Market size and forecast, by end use
6.4.Asia-Pacific
6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, by Type
6.4.3.Market size and forecast, by end use
6.4.4.Market size and forecast, by country
6.4.4.1.China
6.4.4.1.1.Market size and forecast, by Type
6.4.4.1.2.Market size and forecast, by end use
6.4.4.2.India
6.4.4.2.1.Market size and forecast, by Type
6.4.4.2.2.Market size and forecast, by end use
6.4.4.3.Japan
6.4.4.3.1.Market size and forecast, by TYPE
6.4.4.3.2.Market size and forecast, by end use
6.4.4.4.Rest of Asia-Pacific
6.4.4.4.1.Market size and forecast, by Type
6.4.4.4.2.Market size and forecast, by end use
6.5.LAMEA
6.5.1.Key market trends, growth factors, and opportunities
6.5.2.Market size and forecast, by Type
6.5.3.Market size and forecast, by end use
6.5.4.Market size and forecast, by country
6.5.4.1.Brazil
6.5.4.1.1.Market size and forecast, by Type
6.5.4.1.2.Market size and forecast, by end use
6.5.4.2.Rest of LAMEA
6.5.4.2.1.Market size and forecast, by type
6.5.4.2.2.Market size and forecast, by end use
LIST OF TABLES
TABLE 01.SPACE TOURISM MARKET, BY TYPE, 2021–2031 ($MILLION)57
TABLE 02.ORBITAL SPACE TOURISM MARKET, BY REGION, 2021–2031 ($MILLION)59
TABLE 03.SUB ORBITAL SPACE TOURISM MARKET, BY REGION, 2021–2031 ($MILLION)61
TABLE 04.SPACE TOURISM MARKET, BY END USE, 2021–2031 ($MILLION)65
TABLE 05.SPACE TOURISM MARKET FOR GOVERNMENT END USE, BY REGION, 2021–2031 ($MILLION)67
TABLE 06.SPACE TOURISM MARKET FOR COMMERCIAL, BY REGION, 2021–2031 ($MILLION)69
TABLE 07.SPACE TOURISM MARKET, BY REGION, 2021–2031 ($MILLION)71
TABLE 08.NORTH AMERICA SPACE TOURISM MARKET, BY TYPE, 2021–2031 ($MILLION)73
TABLE 09.NORTH AMERICA SPACE TOURISM MARKET, BY END USE, 2021–2031 ($MILLION)73
TABLE 10.NORTH AMERICA SPACE TOURISM MARKET, BY COUNTRY, 2021–2031 ($MILLION)74
TABLE 11.U.S. SPACE TOURISM MARKET, BY TYPE, 2021–2031 ($MILLION)76
TABLE 12.U.S. SPACE TOURISM MARKET, BY END USE, 2021–2031 ($MILLION)77
TABLE 13.CANADA SPACE TOURISM MARKET, BY TYPE, 2021–2031 ($MILLION)79
TABLE 14.CANADA SPACE TOURISM MARKET, BY END USE, 2021–2031 ($MILLION)80
TABLE 15.EUROPE SPACE TOURISM MARKET, BY TYPE, 2021–2031 ($MILLION)82
TABLE 16.EUROPE SPACE TOURISM MARKET, BY END USE, 2021–2031 ($MILLION)83
TABLE 17.EUROPE SPACE TOURISM MARKET, BY COUNTRY, 2021–2031 ($MILLION)84
TABLE 18.RUSSIA SPACE TOURISM MARKET, BY TYPE, 2021–2031 ($MILLION)85
TABLE 19.RUSSIA SPACE TOURISM MARKET, BY END USE, 2021–2031 ($MILLION)86
TABLE 20.GERMANY SPACE TOURISM MARKET, BY TYPE, 2021–2031 ($MILLION)88
TABLE 21.GERMANY SPACE TOURISM MARKET, BY END USE, 2021–2031 ($MILLION)88
TABLE 22.UK SPACE TOURISM MARKET, BY TYPE, 2021–2031 ($MILLION)90
TABLE 23.UK SPACE TOURISM MARKET, BY END USE, 2021–2031 ($MILLION)91
TABLE 24.ASIA PACIFIC SPACE TOURISM MARKET, BY TYPE, 2021–2031 ($MILLION)92
TABLE 25.ASIA PACIFIC SPACE TOURISM MARKET, BY END USE, 2021–2031 ($MILLION)93
TABLE 26.ASIA PACIFIC SPACE TOURISM MARKET, BY COUNTRY, 2021–2031 ($MILLION)94
TABLE 27.CHINA SPACE TOURISM MARKET, BY TYPE, 2021–2031 ($MILLION)96
TABLE 28.CHINA SPACE TOURISM MARKET, BY END USE, 2021–2031 ($MILLION)96
TABLE 29.INDIA SPACE TOURISM MARKET, BY TYPE, 2021–2031 ($MILLION)98
TABLE 30.INDIA SPACE TOURISM MARKET, BY END USE, 2021–2031 ($MILLION)99
TABLE 31.JAPAN SPACE TOURISM MARKET, BY TYPE, 2021–2031 ($MILLION)101
TABLE 32.JAPAN SPACE TOURISM MARKET, BY END USE, 2021–2031 ($MILLION)102
TABLE 33.REST OF ASIA PACIFIC SPACE TOURISM MARKET, BY TYPE, 2021–2031 ($MILLION)103
TABLE 34.REST OF ASIA PACIFIC SPACE TOURISM MARKET, BY END USE, 2021–2031 ($MILLION)104
TABLE 35.LAMEA SPACE TOURISM MARKET, BY TYPE, 2021–2031 ($MILLION)106
TABLE 36.LAMEA SPACE TOURISM MARKET, BY END USE, 2021–2031 ($MILLION)106
TABLE 37.LAMEA SPACE TOURISM MARKET, BY COUNTRY, 2021–2031 ($MILLION)107
TABLE 38.BRAZIL SPACE TOURISM MARKET, BY TYPE, 2021–2031 ($MILLION)109
TABLE 39.BRAZIL SPACE TOURISM MARKET, BY END USE, 2021–2031 ($MILLION)109
TABLE 40.REST OF LAMEA SPACE TOURISM MARKET, BY TYPE, 2021–2031 ($MILLION)111
TABLE 41.REST OF LAMEA SPACE TOURISM MARKET, BY END USE, 2021–2031 ($MILLION)112
LIST OF FIGURES
FIGURE 01.SPACE TOURISM MARKET SNAPSHOT27
FIGURE 02.GLOBAL SPACE TOURISM MARKET SEGMENTATION30
FIGURE 03.MODERATE BARGAINING POWER OF SUPPLIERS32
FIGURE 04.MODERATE BARGAINING POWER OF BUYERS33
FIGURE 05.HIGH THREAT OF SUBSTITUTION34
FIGURE 06.HIGH THREAT OF NEW ENTRANTS35
FIGURE 07.HIGH INTENSITY OF COMPETITIVE RIVALRY36
FIGURE 08.SPACE TOURISM MARKET: DRIVERS, RESTRAINTS, AND OPPORTUNITIES, 2021–203137
FIGURE 09.SPACE TOURISM MARKET, BY TYPE, 2021 (%)48
FIGURE 10.COMPARATIVE SHARE ANALYSIS OF ORBITAL SPACE TOURISM MARKET, BY COUNTRY, 2021 & 2031 (%)52
FIGURE 11.COMPARATIVE SHARE ANALYSIS OF SUB ORBITAL SPACE TOURISM MARKET, BY COUNTRY, 2021 & 2031 (%)54
FIGURE 12.SPACE TOURISM MARKET, BY END USE, 2021 (%)56
56
FIGURE 13.COMPARATIVE SHARE ANALYSIS OF SPACE TOURISM MARKET REVENUE FOR GOVERNMENT, BY COUNTRY, 2021 & 2031 (%)60
FIGURE 14.COMPARATIVE SHARE ANALYSIS OF SPACE TOURISM MARKET FOR COMMERCIAL, BY COUNTRY, 2021 & 2031 (%)64
FIGURE 15.SPACE TOURISM MARKET, BY REGION, 2021 (%)65
FIGURE 16.U.S. SPACE TOURISM MARKET, 2021–2031 ($MILLION)71
FIGURE 17.CANADA SPACE TOURISM MARKET, 2021–2031 ($MILLION)73
FIGURE 18.RUSSIA SPACE TOURISM MARKET, 2021–2031 ($MILLION)79
FIGURE 19.GERMANY SPACE TOURISM MARKET, 2021–2031 ($MILLION)82
FIGURE 20.UK SPACE TOURISM MARKET, 2021–2031 ($MILLION)84
FIGURE 21.CHINA SPACE TOURISM MARKET, 2021–2031 ($MILLION)90
FIGURE 22.INDIA SPACE TOURISM MARKET, 2021–2031 ($MILLION)92
FIGURE 23.JAPAN SPACE TOURISM MARKET, 2021–2031 ($MILLION)95
FIGURE 24.REST OF ASIA-PACIFIC SPACE TOURISM MARKET, 2021–2031 ($MILLION)97
FIGURE 25.BRAZIL SPACE TOURISM MARKET, 2021–2031 ($MILLION)103
FIGURE 26.REST OF LAMEA SPACE TOURISM MARKET, 2021–2031 ($MILLION)105
According to the insights of the CXOs, the global space tourism market is expected to witness robust growth during the forecast period. This is attributed to the rising trend of space tourism across the globe. The trend of space tourism is gradually gaining recognition in the global markets and is anticipated to accelerate the growth of the global space tourism market during the forecast timeframe. In addition, the growing completion in the space tourism industry is expected to decrease the cost of space tourism. Furthermore, to attract consumers around the globe, key players in the market are focused on Research and Development (R&D) initiatives.
CXOs further added about the increase in technological advancements. Global demand for space tourism is growing as a result of ongoing technological advancements. Moreover, the construction of spacecraft and better rockets is advancing at a rapid rate thanks to technological developments in the field of space travel. Space tourists are able to go into space in this fashion and have the experience they desire. Major growing economies all around the world are also investigating space projects, which is expected to promote the expansion of the space tourism industry globally. However, despite the fact that space missions have been successfully conducted for more than 50 years, there are many technical dangers associated with commercial, high-volume space flights employed for space tourism. Thus, such factors are hampering the market growth.
A. The space tourism market size was $598.4 million in 2021 and is expected to reach $12,690.6 million by 2031, registering a CAGR of 36.4% from 2022 to 2031.
A. The CAGR of Space Tourism Market is 36.4%.
A. Kindly get in touch with the sales person for better options.
A. 2021 is the base year calculated in the Space Tourism Market report.
A. The key players profiled in the report include Blue Origin, Virgin Galactic, SpaceX, Airbus Group SE, Boeing, ZERO-G, Axiom Space, Bigelow Aerospace, Orion Span, Space Adventures, Space Perspective, World View Enterprises, Zero2Infinity.
A. Type and end use are the segments of Space Tourism Market.
A. Increasing competition in the space tourism sector and rise in technological advancements, consistent transformations in technology are the key trends in the Space Tourism Market report.
A. North America has the highest Space Tourism market share in 2021.
Start reading instantly.
This Report and over 67,132+ more Reports, Available with Avenue Library. T&C*.
Enterprise
License/PDF
Library
Membership
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
Get Industry Data AlertsTo ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Contact Details
Need to talk to an expert? Book your free consultation and let our research experts help you with your needs/problems.
Global Report 
Regional Report
Country Report
Related Report