The global space tourism market refers to the commercial industry that involves providing space travel experiences to private individuals or tourists, typically for recreational, leisure, or adventure purposes. It encompasses a range of activities, including suborbital and orbital spaceflights, lunar or deep space missions, and other related space-based adventures that allow paying customers to travel beyond Earth's atmosphere and experience space firsthand. This market involves various stakeholders, such as space tourism companies, space agencies, spacecraft manufacturers, travel agencies, and related service providers, all working together to facilitate the growing demand for space tourism experiences.
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Data Bridge Market Research analyzes that the Global Space Tourism Market is expected to grow at a CAGR of 40.2% in the forecast period of 2023 to 2030 and is expected to reach USD 9,311.95 million by 2030. The sub-orbital space tourism segment is projected to propel the market growth as they are widely used and less complicated compared to others.
Key Findings of the Study
Technological Advancement in Space Tourism
Technological advancements in space tourism are revolutionizing the global space tourism market, propelling it into a new era of accessibility and potential growth. Innovations in spacecraft design and engineering have significantly enhanced safety, efficiency, and overall passenger experience. Reusable rockets and spacecraft have lowered the cost of launching and transportation, making space travel more economical and appealing to a broader demographic. Advanced life support systems, improved habitats, and sophisticated onboard medical facilities have bolstered the confidence of potential space tourists in the safety and comfort of their space journey.
Moreover, advancements in virtual reality and immersive technologies allow for realistic pre-flight training, giving tourists a glimpse into what to expect during their space adventure. This enhances their preparedness and excitement for the trip. In addition, cutting-edge communication and internet capabilities onboard spacecraft enable tourists to share their space experiences in real time, fostering a sense of community and generating enthusiasm among aspiring space travelers worldwide.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Year
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2021 (Customizable 2015-2020)
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Quantitative Units
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Revenue in USD Million
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Segments Covered
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Type (Sub-Orbital Space Tourism, Orbital Space Tourism, Lunar Tourism, Inter-Planetary Tourism, and Space Hotel Tourism), End User (Government, Commercial, and Others), HNW Communities (20M to 40M, 40M to 60M, and More than above Ranges), and Sales Channel (Launch Provider, Third Party Partnership, and OTAs)
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Countries Covered
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U.S., Canada, Mexico, France, Spain, U.K., Netherlands, Denmark, Sweden, Russia, Switzerland, Poland, and Rest of Europe, China, Japan, Thailand, India, Vietnam, South Korea, Australia, Singapore, Malaysia, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, U.A.E., Saudi Arabia, South Africa, Kuwait, and Rest of Middle East and Africa
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Market Players Covered
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Boeing (U.S.), SPACEX (U.S.), BLUE ORIGIN (U.S.), Lockheed Martin Corporation (U.S.), and fireflyspace (U.S.) among others
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Segment Analysis
The global space tourism market is segmented into four notable segments based on type, end-user, HNW communities, and sales channel.
- Based on type, the market is segmented into sub-orbital space tourism, orbital space tourism, lunar tourism, interplanetary tourism, and space hotel tourism.
In 2023, the sub-orbital space tourism segment of the type segment is expected to dominate the global space tourism market
In 2023, the sub-orbital space tourism segment is expected to dominate the market with a market share of 32.40% due to ease of operations and less complicated tourism in space science.
- Based on end user, the market is segmented into government, commercial, and others.
In 2023, the government segment of the end user segment is expected to dominate the global space tourism market
In 2023, the government segment is expected to dominate the market with a market share of 46.24% due to the increasing awareness of space programs and collaborative initiatives with government bodies.
- Based on HNW communities, the market is segmented into 20m to 40m, 40m to 60m, and more than the above ranges. In 2023, the 20m to 40m segment is expected to dominate the market with a market share of 53.74% due to the greater preference for space tourism in this range.
- Based on sales channel, the market is segmented into launch provider, third party partnership, and OTAs. In 2023, the launch provider segment is expected to dominate the market with a market share of 49.26% due to direct communication with clients.
Major Players
Data Bridge Market Research analyzes Boeing (U.S.), SPACEX (U.S.), BLUE ORIGIN (U.S.), Lockheed Martin Corporation (U.S.), and fireflyspace (U.S.) as the major players in the global space tourism market.
Market Development
- In September 2023, according to Firefly Aerospace, Inc., L3Harris Technologies and Firefly Aerospace, Inc. have inked a multi-launch agreement for three dedicated launches on Firefly's Alpha vehicle in 2026. The arrangement strengthens Firefly's position as the industry's top provider of small-lift launch services as it increases Alpha vehicle manufacturing to meet the expanding demands of both government and commercial clients.
- In June 2023, Virgin Galactic commercial spaceflight service launch was announced. The "Galactic -01" flight window, the first commercial space mission, was scheduled for June 27 to June 30. The second mission was then scheduled for early August.
- In May 2023, Vast announced that SpaceX will launch Vast Haven-1, which is anticipated to be the first commercial space station in the world, along with two manned spaceflight flights to the station. Not earlier than August 2025, it is planned to launch into low-Earth orbit on a Falcon 9 rocket. A larger Vast space station that is now being developed will eventually be attached as a module to the independent, fully functional Haven-1 space station. On the path to making humanity multi-planetary, this new relationship between Vast and SpaceX will continue to foster and accelerate greater accessibility to space and more options for exploration.
- In February 2023, Blue Origin's New Glenn received the contract for the Escape and Plasma Acceleration and Dynamics Explorers (ESCAPADE) by NASA's Launch Services Programme (LSP). ESCAPADE, a dual spacecraft project to study Mars' magnetosphere is a component of NASA's Small Innovative Missions for Planetary Exploration (SIMPLEx) program. The NASA VADR launch services Indefinite Delivery Indefinite Quantity (IDIQ) contract with a five-year performance period was on-ramped to Blue Origin on January 26, 2022.
- In February 2020, Space Adventures, Inc. and SpaceX signed an agreement for Space Adventures, Inc. to fly private passengers on the first Crew Dragon free-flyer mission, building on the success of Crew Dragon's first demonstration mission to the International Space Station in March 2019 and the most recent successful test of the spacecraft's launch escape system. Up to four people will have the chance to do this, setting a new record for private citizen spaceflight's highest altitude, and witnessing Earth in a way that hasn't been possible since the Gemini program.
Regional Analysis
Geographically, the countries covered in the global space tourism market report are the U.S., Canada, Mexico, France, Spain, U.K., Netherlands, Denmark, Sweden, Russia, Switzerland, Poland, and Rest of Europe, China, Japan, Thailand, India, Vietnam, South Korea, Australia, Singapore, Malaysia, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, U.A.E., Saudi Arabia, South Africa, Kuwait, and Rest of Middle East and Africa.
As per Data Bridge Market Research analysis:
North America is the dominant region in the global space tourism market
North America is expected to dominate the market owing to the higher level of investments by U.S. manufacturers and service providers and the increasing advancement in space science in the U.S. North America will continue to dominate the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period.
Asia-Pacific is estimated to be the fastest-growing region in the global space tourism market during the forecast period of 2023 to 2030
Asia-Pacific is expected to grow during the forecast period due to the growing interest and motivation for space tourism in emerging economies in this region.
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