Space Tourism Market is Expected to Reach a Value of CAGR of 16.3% during 2018-2025

November 05, 2018: This report focuses on the global Space Tourism status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Space Tourism development in United States, Europe and China.

Space tourism is space travel for recreational, leisure or business purposes. To date only orbital space tourism has taken place provided by the Russian Space Agency, although work continues developing sub-orbital space tourism vehicles by Blue Origin and Virgin Galactic. In addition, SpaceX announced in 2017 that they are planning on sending two space tourists on a lunar free return trajectory in 2018 aboard their Dragon V2 spacecraft launched by the Falcon Heavy rocket.

One of the latest trends that will gain traction in the space tourism market in the coming years is the decrease in the cost of space tourism. The cost of getting into space will decline rapidly if the next generation of space planes can reach the orbit.

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This will considerably reduce the cost of launching satellites or space exploration missions, making it an economically feasible option for a larger customer segment. Additionally, the reduced cost can also enable vendors to launch multiple nanosatellites in the solar system.

The industry is expected to remain innovation-led, with frequent acquisitions and strategic alliances adopted as the key strategies by the players to increase their industry presence. Market stays in mature period with a clear concentration. Meanwhile, optimize product mix and further develop value-added capabilities to maximize margins. Manufacturers can take advantage of this situation by reinforcing their production units and supply-chains to avoid any delay in production turn-around-times (TAT) and supply-lead-times.

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In 2017, the global Space Tourism market size was 490 million US$ and it is expected to reach 1640 million US$ by the end of 2025, with a CAGR of 16.3% during 2018-2025.

The key players covered in this study

·         Space Adventures

·         EADS Astrium

·         Virgin Galactic

·         Armadillo Aerospace

·         Excalibur Almaz

·         Space Island Group

·         SpaceX

·         Boeing

·         Zero 2 Infinity

Market segment by Type, the product can be split into

·         Suborbital

·         Orbital

Market segment by Application, split into

·         Civilians

·         The Rich

The study objectives of this report are:

·         To analyze global Space Tourism status, future forecast, growth opportunity, key market and key players.

·         To present the Space Tourism development in United States, Europe and China.

·         To strategically profile the key players and comprehensively analyze their development plan and strategies.

·         To define, describe and forecast the market by product type, market and key regions.

In this study, the years considered to estimate the market size of Space Tourism are as follows:

·         History Year: 2013-2017

·         Base Year: 2017

·         Estimated Year: 2018

·         Forecast Year 2018 to 2025

For the data information by region, company, type and application, 2017 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.

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