Suborbital Space Tourism Trends and Forecast
The future of the global suborbital space tourism market looks promising with opportunities in the civilian and the rich markets. The global suborbital space tourism market is expected to reach an estimated $0.4 billion by 2030 with a CAGR of 22.5% from 2024 to 2030. The major drivers for this market are increasing interest in space exploration and adventure tourism experiences and rising development of reusable launch vehicles.
• Lucintel forecasts that rocket-powered spaceplane is expected to witness the higher growth over the forecast period.
• Within this market, the rich is expected to witness the higher growth.
• North America is expected to witness highest growth over the forecast period.
United States: Companies like Blue Origin and Virgin Galactic are leading initiatives in the suborbital space tourism market. Blue OriginÄX%$%Xs New Shepard spacecraft aims to offer suborbital space tourism flights, with recent announcements including successful crewed test flights and upcoming commercial operations. Virgin GalacticÄX%$%Xs SpaceShipTwo vehicle is also undergoing testing for suborbital space tourism missions, with recent developments including successful test flights and preparations for commercial service. Targets set by companies include launching regular suborbital tourism flights and expanding market reach. The U.S. government supports the commercial space industry through regulatory frameworks and infrastructure investments, aiming to promote innovation and economic growth in the space tourism sector.
India: Indian companies like ISRO and private players are exploring opportunities in the suborbital space tourism market. Recent initiatives include feasibility studies and concept designs for suborbital space tourism vehicles. Targets set by companies include offering affordable and accessible space tourism experiences to Indian citizens and international tourists. The Indian government aims to support space tourism initiatives through policy reforms and investment incentives, aiming to promote India as a space tourism destination and boost the countryÄX%$%Xs space industry.
China: Chinese companies like China Aerospace Science and Technology Corporation (CASC) are investing in suborbital space tourism ventures. Recent announcements include plans to develop suborbital space tourism vehicles and launch commercial operations. Targets set by companies include establishing China as a leading player in the global space tourism market and attracting domestic and international tourists. The Chinese government supports the development of the commercial space industry through funding programs and regulatory support, aiming to foster innovation and competitiveness in the space tourism sector.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Suborbital Space Tourism by Segment
The study includes a forecast for the global suborbital space tourism by type, application, and region.
Suborbital Space Tourism Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Rocket-Powered Spaceplane
• Rocket
Suborbital Space Tourism Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Civilian
• The Rich
• Others
Suborbital 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 Suborbital 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 suborbital space tourism companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the suborbital space tourism companies profiled in this report include-
• Company 1
• Company 2
• Company 3
• Company 4
• Company 5
Recent Development in the Suborbital Space Tourism Market
Blue Origin: Blue Origin, founded by Jeff Bezos, has been a significant player in the suborbital space tourism market. The companyÄX%$%Xs initiative, known as New Shepard, aims to offer suborbital space tourism flights to paying customers. Recent developments include the successful launch and landing of the New Shepard rocket and crew capsule during multiple test flights. Blue OriginÄX%$%Xs focus on safety and reliability has been evident in its meticulous approach to testing and vehicle design, laying the groundwork for future commercial space tourism operations.
Virgin Galactic: Virgin Galactic, founded by Sir Richard Branson, is another prominent company in the suborbital space tourism market. The companyÄX%$%Xs initiative, known as SpaceShipTwo, aims to provide suborbital space tourism experiences to customers. Recent developments include successful test flights of the SpaceShipTwo vehicle, including crewed flights with pilots and passengers onboard. Virgin GalacticÄX%$%Xs commitment to delivering a unique and exhilarating space tourism experience has garnered attention from potential customers and investors alike.
SpaceX: SpaceX, led by Elon Musk, is primarily known for its achievements in orbital spaceflight, but the company has also expressed interest in suborbital space tourism. SpaceXÄX%$%Xs initiative, known as Crew Dragon, aims to offer commercial space tourism flights to private individuals. Recent developments include the successful launch and return of the Inspiration4 mission, which sent a crew of civilian astronauts on a multi-day journey around the Earth aboard the Crew Dragon spacecraft. SpaceXÄX%$%Xs entry into the space tourism market could potentially disrupt the industry with its proven track record in spaceflight innovation.
Space Adventures: Space Adventures is a space tourism company that has facilitated several private space missions in partnership with Russian space agency Roscosmos. The companyÄX%$%Xs initiative involves organizing space tourism experiences aboard Russian Soyuz spacecraft to the International Space Station (ISS). Recent developments include plans for new space tourism missions, such as the SpaceX Axiom Space-1 mission, which will fly private astronauts to the ISS aboard a SpaceX Crew Dragon spacecraft. Space AdventuresÄX%$%X commitment to expanding access to space for private individuals highlights the growing interest in space tourism beyond suborbital flights.
Features of the Global Suborbital Space Tourism Market
Market Size Estimates: Suborbital space tourism market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Suborbital space tourism market size by type, application, and region in terms of value ($B).
Regional Analysis: Suborbital 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 suborbital space tourism market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the suborbital 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 suborbital space tourism market size?
Answer: The global suborbital space tourism market is expected to reach an estimated $0.4 billion by 2030.
Q2. What is the growth forecast for suborbital space tourism market?
Answer: The global suborbital space tourism market is expected to grow with a CAGR of 22.5% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the suborbital space tourism market?
Answer: The major drivers for this market are increasing interest in space exploration and adventure tourism experiences and rising development of reusable launch vehicles.
Q4. What are the major segments for suborbital space tourism market?
Answer: The future of the suborbital space tourism market looks promising with opportunities in the civilian and the rich markets.
Q5. Who are the key suborbital space tourism market companies?
Answer: Some of the key suborbital space tourism companies are as follows:
• Company 1
• Company 2
• Company 3
• Company 4
• Company 5
Q6. Which suborbital space tourism market segment will be the largest in future?
Answer: Lucintel forecasts that rocket-powered spaceplane is expected to witness the higher growth over the forecast period.
Q7. In suborbital 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.
Q8. 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 suborbital space tourism market by type (rocket-powered spaceplane and rocket), 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?
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