Leisure Space Tourism Trends and Forecast
The future of the global leisure space tourism market looks promising with opportunities in the civilian and the rich markets. The global leisure space tourism market is expected to grow with a CAGR of 32.1% from 2024 to 2030. The major drivers for this market are increasing interest in space exploration and adventure tourism, rise of the luxury travel market, and growing preference for space travel and experience the thrill of weightlessness.
• Lucintel forecasts that suborbital is expected to witness the higher growth over the forecast period.
• Within this market, civilian is expected to witness the higher growth.
• North America is expected to witness highest growth over the forecast period.
United States: Companies like SpaceX, Blue Origin, and Virgin Galactic are leading initiatives in the leisure space tourism market. Recent announcements include successful test flights and upcoming commercial space tourism missions. Targets set by companies include offering suborbital flights to private individuals and research payloads. The U.S. government aims to support the commercial space industry through regulatory frameworks and infrastructure investments.
India: Indian companies like ISRO and Space Tourism Society India are exploring opportunities in the leisure space tourism market. Recent initiatives include feasibility studies and concept designs for suborbital and orbital space tourism missions. Targets set by companies include promoting space tourism as a new revenue stream and fostering international collaborations. The Indian government aims to support space tourism initiatives through policy reforms and investment incentives.
China: Chinese companies like China Aerospace Science and Technology Corporation (CASC) and China National Space Administration (CNSA) are investing in space tourism ventures. Recent announcements include plans to develop space hotels and lunar tourism missions. Targets set by companies include establishing China as a leader in space tourism and attracting foreign tourists. The Chinese government aims to promote space tourism as part of its broader space exploration strategy and economic development plans.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Leisure Space Tourism by Segment
The study includes a forecast for the global leisure space tourism by type, application, and region.
Leisure Space Tourism Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Suborbital
• Orbital
Leisure Space Tourism Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Civilian
• The Rich
• Others
Leisure Space Tourism Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Leisure Space Tourism Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies leisure space tourism companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the leisure space tourism companies profiled in this report include-
• Eads Astrium
• Virgin Galactic
• Armadillo Aerospace
• Excalibur Almaz
• Space Island
• Spacex
• Boeing
Recent Development in the Leisure Space Tourism Market
SpaceX: SpaceX, founded by Elon Musk, has been a major player in the leisure space tourism market with its ambitious plans for commercial space travel. The companyÄX%$%Xs initiative, known as SpaceX Crew Dragon, aims to offer orbital space tourism flights to private individuals. SpaceX successfully conducted the Inspiration4 mission in September 2021, sending a crew of civilian astronauts on a multi-day journey around the Earth aboard the Crew Dragon spacecraft. This milestone marked the first all-civilian mission to orbit and demonstrated SpaceXÄX%$%Xs capabilities in space tourism.
Blue Origin: Blue Origin, led by Amazon founder Jeff Bezos, is another prominent player in the leisure space tourism market. The companyÄX%$%Xs initiative, known as New Shepard, is designed to offer suborbital space tourism flights to paying customers. Blue Origin successfully completed several test flights of the New Shepard vehicle, including the historic NS-16 mission in July 2021, which carried Bezos himself along with other crew members. This achievement showcased Blue OriginÄX%$%Xs progress in developing safe and reliable space tourism technology.
Virgin Galactic: Virgin Galactic, founded by Sir Richard Branson, is at the forefront of the leisure space tourism market with its innovative spaceflight system. The companyÄX%$%Xs initiative, known as SpaceShipTwo, aims to provide suborbital space tourism experiences to customers. Virgin Galactic achieved a major milestone in July 2021 with the successful flight of its VSS Unity spacecraft carrying a crew of two pilots and four mission specialists. This marked the first fully crewed test flight of the SpaceShipTwo system and demonstrated Virgin GalacticÄX%$%Xs commitment to making space tourism a reality.
Space Adventures: Space Adventures is a space tourism company that has facilitated several private space missions in partnership with Roscosmos, the Russian space agency. The companyÄX%$%Xs initiative involves organizing space tourism experiences aboard Russian Soyuz spacecraft to the International Space Station (ISS). In October 2021, Space Adventures announced plans for a new space tourism mission called "SpaceX Axiom Space-1," which will fly private astronauts to the ISS aboard a SpaceX Crew Dragon spacecraft. This initiative expands Space AdventuresÄX%$%X portfolio of space tourism offerings and highlights the growing interest in private space travel experiences.
Features of the Global Leisure Space Tourism Market
Market Size Estimates: Leisure space tourism market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Leisure space tourism market size by type, application, and region in terms of value ($B).
Regional Analysis: Leisure space tourism market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the leisure space tourism market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the leisure space tourism market.
Análisis de la intensidad competitiva de la industria basada en el modelo de cinco fuerzas de Porter.
Preguntas frecuentes
Q1. What is the growth forecast for leisure space tourism market?
Answer: The global leisure space tourism market is expected to grow with a CAGR of 32.1% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the leisure space tourism market?
Answer: The major drivers for this market are increasing interest in space exploration and adventure tourism, rise of the luxury travel market, and growing preference for space travel and experience the thrill of weightlessness.
Q3. What are the major segments for leisure space tourism market?
Answer: The future of the leisure space tourism market looks promising with opportunities in the civilian and the rich markets.
Q4. Who are the key leisure space tourism market companies?
Answer: Some of the key leisure space tourism companies are as follows:
• Eads Astrium
• Virgin Galactic
• Armadillo Aerospace
• Excalibur Almaz
• Space Island
• Spacex
• Boeing
Q5. Which leisure space tourism market segment will be the largest in future?
Answer: Lucintel forecasts that suborbital is expected to witness the higher growth over the forecast period.
Q6. In leisure space tourism market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the leisure space tourism market by type (suborbital and orbital), application (civilian, the rich, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Leisure Space Tourism Market, Leisure Space Tourism Market Size, Leisure Space Tourism Market Growth, Leisure Space Tourism Market Analysis, Leisure Space Tourism Market Report, Leisure Space Tourism Market Share, Leisure Space Tourism Market Trends, Leisure Space Tourism Market Forecast, Leisure Space Tourism Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.