The space tourism and travel market will generate $ 7.9 billion,
CAMBRIDGE, Mass., January 5, 2021 (GLOBE NEWSWIRE) – NSR Space tourism and travel markets, 2nd edition report released today projects cumulative global revenues of $ 7.9 billion generated by 2030. The market is driven by suborbital tourism, which will accelerate once the launches of Virgin Galactic and Blue Origin take place end of 2021. As the high-visibility orbital space tourism market, where film stars and wealthy people pay more than $ 55 million for a ride, will accumulate the highest cumulative tally; a more discreet role – the parabolic flight tourism market – will offer zero G journeys to aficionados who dream of going into space, but cannot afford to pay.
“The space tourism and travel market continues, despite delays from COVID-19 and decades of development,” says Dallas kasaboski, senior NSR analyst and co-author of the report. “Confidence in the technology has increased, especially after the SpaceX Commercial Crew launched this year, but it will take some time for the market to really start to take off.”
Virgin Galactic and Blue Origin dominate the sub-orbital market and all eyes will be on them to help firmly state that this market is “for real”. But when commercial rockets launched crewed missions to the ISS this year, there were indications that orbital flight was potentially taking the lead. The silver lining is that with such high demand, the sky will soon no longer be the limit for space tourism, and this is true for all types of space tourism services.
“The demand is there, but experience is the key,” says Hameed Mohamed Manoharan, analyst and co-author of the report. âNo one has carried passengers frequently enough to make passengers feel like this is a safe and reliable ‘tourist’ destination. Once the supply side of the market offers frequent launches, demand will increase further, âhe added.
At the moment, only models of launchers and planes are ready to take off in 2021 for suborbital tourism. Balloon-based launches need to improve the TRL as they plan to begin operations by 2023. Parabolic flights, which have been around for decades now, have another role to play. It is more accessible and the flights are considerably cheaper and affordable. The reality, however, is that only a handful of players offer these services and while 0-G flights offer good value for money, they have not been sufficiently advertised or directed to key markets that would help expand. income.
A common phrase notes: the intensity is building up and it may better describe space tourism and travel in the years to come. As operations will begin soon, it is sure to make headlines as it becomes a sustainable and viable space market.
About the report
NSR Space tourism and travel markets, 2sd Edition (STT2) report provides definitive and clear analysis of the rapidly growing industry market. STT2 is the only report covering suborbital, orbital to parabolic flights, via airplanes, spaceplanes, balloons and rockets, to point-to-point travel. This NSR report assesses and forecasts this market categorized by types of supplies, vehicles, and services. STT2 Also leverages NSR’s extensive and in-depth knowledge in the space and satellite industry to quantify and forecast addressable market demand, launch supply, flights, passenger capacity, revenue and ticket prices . The report integrates and presents both market history and recent context to better frame the growth rate and likely adoption of the industry.
For more information on this report, including a full table of contents, a list of exhibits, and a summary, please visit www.nsr.com or call NSR at 617-674-7743.
Companies and organizations mentioned in the report:
Air Zero G, Aurora Aerospace, Axiom Space, Blue Origin, Boeing, Land of Space Tourism, CosmoCourse, EOS-X Space, Incredible Adventures, NASA, Nancy Vermeulen Space Training Academy, Nanoracks, Roscosmos, Sierra Nevada Corporation, Space Adventures, SpaceX , Space Perspective, Virgin Galactic, PD Aerospace, RSC Energia, Vegitel, World View, XCOR, Zero2Infinity and Zero G Corporation.
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