The worldwide space tourism industry is expected to reach US$ 678.3 million in 2023, according to Future industry Insights (FMI). Space tourism is expected to see growth in sales between 2023 and 2033 at a 38.6% CAGR. By 2033, the total market valuation is expected to reach US$ 13,239.5 million.
Space tourism industry is a growing market with innovations and technological advancements. Several prominent companies such as SpaceX are introducing reusable rocket technology. This is making the space flights accessible and more affordable for humans.
With the launch of commercial suborbital travels, there is going to be a subsequent change in the experiences that these travels will offer in the future. There are speculations however, that high net income people or private researchers will get direct access to space tourism in the upcoming future but it brings certain limitations when it comes to ordinary citizens.
These suborbital trips and spaceflights will bring growth opportunities for space tourism. They will also aid in scientific research purpose. Besides this they will allow travel enthusiast to get new fascinating space experience.
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Rising popularity of space tourism across emerging countries will bring new opportunities. Reduction in prices due to integration of novel space technologies will boosts sales.
However, there could be a severe environmental impact of space tourism. Hence, proper solution needs to be implemented to avoid trouble in the future. Space tourism also presents itself with another challenge which is the affordability. It is still presented as luxury due to its cost.
New initiatives are being taken to ensure that there is a complete benefit of space tourism in the commercial market.
Key Takeaways for Space Tourism Market Report:
- The market for space tourism is forecast to reach a valuation of US$ 13,239.5 million by 2033.
- Global space tourism revenue is set to rise at 6% CAGR between 2023 and 2033.
- Online booking channel is likely to hold around 65% during the assessment period.
- By age group, 16 to 25 category will reflect a CAGR of 9% through 2033.
- By demographic, male segment generates most of the revenues in space tourism market.
- The United States space tourism market will exhibit marvellous growth through 2033.
- The space tourism industry in India is set to generate lucrative revenues.
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Key Players:
- Blue Origin
- Virgin Galactic
- Space X
- Airbus Group SE
- Boeing
- ZERO-G
- Airbus Group SE
- Axiom Space
- Bigelow Aerospace
- Orion Span
- Space Adventures
- Space Perspective
- World View Enterprises
- Zero2Infinity
Space Tourism Market by Category
By Direct Suppliers:
- Airlines
- Hotel Companies
- Train
- Tour Operators
- Government Bodies
By Indirect Suppliers:
- OTA (Online Travel Agency)
- Traditional Travel Agencies
- TMC’s (Travel Management Companies)
- Corporate Buyers
- Aggregators
By Number of Bookings:
By Age:
- Under 15
- 16-25
- 26-35
- 36-45
- 46-55
- Over 55
By Tourism Type:
- Stratospheric
- Suborbital
- Orbital
- Others
By Demographic:
- Male
- Female
- Kid
By Nationality:
- Domestic
- International
By Booking Channel:
- Offline Booking
- Online Booking
By Tour Type:
- Individual Travel
- Professional Groups
- Group Travels
By Country:
- USA
- Canada
- Brazil
- Mexico
- Germany
- United Kingdom
- France
- Spain
- Russia
- India
- China
- Japan
- Malaysia
- Singapore
- Australia
- United Arab Emirates
- KSA
- Italy
- Europe
- Rest of the World
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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Website: https://www.futuremarketinsights.com
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