Space Tourism Market Size - By Altitude (Orbital, Sub-orbital), By End User (Government, Commercial) & Forecast, 2024

Description

Space tourism market size is anticipated to grow at over 36.5% CAGR between 2024 and 2032 driven by rapid advancements in space travel technology and the increasing involvement of private companies.

With space agencies and private enterprises making significant strides in developing reusable rocket systems and spacecraft, the cost of space travel is gradually decreasing, making it more accessible to a broader audience. The entry of companies like SpaceX, Blue Origin, and Virgin Galactic into the market has also spurred competition and investments, further accelerating the development of space tourism infrastructure and services. For instance, in June 2024, Virgin Galactic selected paying passengers to the edge of space, marking a significant milestone as the space industry continues to expand and diversify.

As space tourism has become a reality, it is appealing to those eager to explore beyond Earth, driven by the allure of experiencing weightlessness and viewing Earth from space. Marketing efforts and media coverage of early space tourism missions for generating excitement and public interest is further adding to the market growth.

The overall industry is segmented into altitude, end user, and region.

Based on altitude, the space tourism market from the orbital segment is poised to grow between 2024 and 2032 backed by its immersive and prestigious experience compared to suborbital flights. Orbital space tourism involves traveling to space and orbiting Earth for providing passengers with extended periods of weightlessness and breathtaking views from space.

Based on end user, the space tourism market size from the government segment is set to witness significant CAGR from 2024 to 2032. This is driven by the hefty investments in space infrastructure for fostering public-private partnerships and supporting R&D activities in space technologies. Governments are also providing funding and regulatory frameworks to facilitate the growth of commercial space ventures, creating a more favorable environment for space tourism companies.

Asia Pacific space tourism industry is expected to accrue notable expansion from 2024 to 2032. This is attributed to rapid economic growth and increasing affluence, which have expanded the consumer base for luxury and experiential travel. As rising incomes are creating the demand for unique experiences, affluent individuals in the region are increasingly interested in space tourism. The significant investments in space technology from both governments and private enterprises, leading to advancements in space travel infrastructure and reducing the cost of access will stimulate the regional market growth.

Product Code: 10007

Chapter 1 Methodology & Scope

1.1 Market scope & definition
1.2 Research design
- 1.2.1 Research approach
- 1.2.2 Data collection methods
1.3 Base estimates & calculations
- 1.3.1 Base year calculation
- 1.3.2 Key trends for market estimation
1.4 Forecast model
1.5 Primary research and validation
- 1.5.1 Primary sources
1.6 Data mining sources

Chapter 2 Executive Summary

2.1 Industry 360° synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Supplier landscape
- 3.2.1 Spacecraft manufacturers
- 3.2.2 Launch service providers
- 3.2.3 Technology provider
- 3.2.4 End user
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news & initiatives
3.7 Regulatory landscape
3.8 Impact forces
- 3.8.1 Growth drivers
  - 3.8.1.1 Technological advancements in aerospace innovation and efficiency
  - 3.8.1.2 Rising demand from affluent individuals seeking unique experiences
  - 3.8.1.3 Supportive government policies and partnerships
  - 3.8.1.4 Private sector investments fostering competition and innovation
- 3.8.2 Industry pitfalls & challenges
  - 3.8.2.1 High costs inhibit widespread accessibility
  - 3.8.2.2 Limited infrastructure for space tourism operations
3.9 Growth potential analysis
3.10 Porter's analysis
- 3.10.1 Supplier power
- 3.10.2 Buyer power
- 3.10.3 Threat of new entrants
- 3.10.4 Threat of substitutes
- 3.10.5 Industry rivalry
3.11 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates & Forecast, By Altitude 2021 - 2032 ($Mn, Number of Visitors)

5.1 Key trends
5.2 Orbital
5.3 Sub-orbital
5.4 Others

Chapter 6 Market Estimates & Forecast, By End User, 2021 - 2032 ($Mn, Number of Visitors)

6.1 Key trends
6.2 Government
- 6.2.1 Orbital
- 6.2.2 Sub-orbital
- 6.2.3 Others
6.3 Commercial
- 6.3.1 Orbital
- 6.3.2 Sub-orbital
- 6.3.3 Others
6.4 Others
- 6.4.1 Orbital
- 6.4.2 Sub-orbital
- 6.4.3 Others

Chapter 7 Market Estimates & Forecast, By Region, 2021 - 2032 ($Mn, Number of Visitors)

7.1 Key trends
7.2 North America
- 7.2.1 U.S.
- 7.2.2 Canada
7.3 Europe
- 7.3.1 UK
- 7.3.2 Germany
- 7.3.3 France
- 7.3.4 Italy
- 7.3.5 Spain
- 7.3.6 Russia
- 7.3.7 Rest of Europe
7.4 Asia Pacific
- 7.4.1 China
- 7.4.2 India
- 7.4.3 Japan
- 7.4.4 South Korea
- 7.4.5 Australia
- 7.4.6 Singapore
- 7.4.7 Rest of Asia Pacific
7.5 Latin America
- 7.5.1 Brazil
- 7.5.2 Mexico
- 7.5.3 Argentina
- 7.5.4 Rest of Latin America
7.6 MEA
- 7.6.1 UAE
- 7.6.2 South Africa
- 7.6.3 Saudi Arabia
- 7.6.4 Rest of MEA

Chapter 8 Company Profiles

8.1 Airbus
8.2 Astroscale Holdings Inc.
8.3 Axiom Space, Inc.
8.4 Bigelow Aerospace
8.5 Blue Origin Enterprises, L.P.
8.6 Elysium Space
8.7 Excalibur Almaz
8.8 Isar Aerospace
8.9 Orion Span
8.10 Rocket Lab USA, Inc.
8.11 Space Adventures, Inc.
8.12 Space Island Group
8.13 Space Perspective
8.14 SpaceX
8.15 The Boeing Company
8.16 Virgin Galactic Holdings, Inc.
8.17 World View Enterprises, Inc.
8.18 Zero 2 Infinity
8.19 Zero Gravity Corporation

Space Tourism Market Size - By Altitude (Orbital, Sub-orbital), By End User (Government, Commercial) & Forecast, 2024 - 2032