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PUBLISHER: Grand View Research | PRODUCT CODE: 1529678
PUBLISHER: Grand View Research | PRODUCT CODE: 1529678
Space Tourism Market Size, Share & Trends Analysis Report By Type (Orbital, Sub-orbital), By End Use (Government, Commercial), By Region (North America, Europe, APAC, Latin America, MEA), And Segment Forecasts, 2024 - 2030
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Space Tourism Market Growth & Trends:
The global space tourism market size is expected to reach USD 10.09 billion by 2030, according to a new report by Grand View Research, Inc. It is anticipated to grow at a CAGR of 44.8% from 2024 to 2030.
Space tourism is defined as human space travel for recreational, leisure, or business purposes. High-net-worth individuals' growing appetite for transformative experiences is driving demand, with some willing to pay premium prices for the novelty of space travel. Concurrently, private companies like SpaceX, Blue Origin, and Virgin Galactic are significantly investing in R&D, propelling advancements in reusable rockets, spacecraft design, and life support systems, which are gradually reducing costs and enhancing safety. These technological breakthroughs are attracting more players to the market, fostering competition and innovation. In addition, strategic partnerships between aerospace firms, luxury brands, and governments are emerging, creating a supportive ecosystem for space tourism infrastructure, including plans for orbital hotels and lunar excursions.
Space tourism is anticipated to democratize access to space research, enabling individuals to engage more actively in space science. With the high costs associated with space exploration, these flights will provide a more affordable avenue for conducting research. In addition, space tourism is expected to drive innovation and the development of new technologies. Many technological advancements have stemmed from space exploration, with inventions such as running shoes, bulletproof vests, and foam mattresses being byproducts of lunar visits.
Space tourism is bifurcated into suborbital and orbital tourism. Suborbital flights cater to clients seeking a brief but intense exposure to the space environment. These journeys involve reaching the fringes of Earth's atmosphere without entering orbit, with total flight durations generally spanning from a few minutes to approximately two hours. This segment targets customers who prioritize the novelty of experiencing microgravity and viewing Earth from high altitude over extended time in space.
In contrast, the orbital segment offers a more immersive space travel product. Clients in this category remain in Earth's orbit for significantly longer durations, typically ranging from several days to weeks. This extended timeframe allows for a comprehensive experience, potentially including activities such as scientific experiments, extended Earth observation, or stays in orbital habitats. The orbital segment appeals to clients who seek a more profound engagement with the space environment and are willing to invest more time and resources in this comprehensive experience.
Space tourism raises environmental concerns due to the environmental impact of rocket launches. Rocket engines burn fuel, emitting black carbon (soot particles) and harmful gases into the upper atmosphere, leading to ozone depletion. However, some space companies, like Blue Origin's New Shepard, use liquid hydrogen-fueled engines that produce water vapor instead of carbon emissions. Despite this, the potential popularity of space tourism poses a significant environmental threat, as increased rocket launches will result in higher carbon footprints. For example, Virgin Galactic plans to launch 400 flights annually, contributing to the release of black carbon. The cumulative impact of 1,000 space tourism flights could lead to a one-degree Celsius increase in the temperature of Antarctica.
Space Tourism Market Report Highlights:
- The suborbital segment is expected to dominate the market and expand at a CAGR of 44.4% from 2023 to 2030. This growth is driven by lower ticket prices compared to orbital flights, shorter training requirements, and a rapidly expanding fleet of suborbital vehicles from companies like Virgin Galactic and Blue Origin, making it the more accessible entry point for space tourists.
- The commercial segment is projected to grow at the fastest CAGR over the forecast period. This high CAGR in the commercial space tourism sector is fueled by aggressive private investment, technological advancements reducing launch costs, and a growing ecosystem of companies offering not just flights but also ancillary services like space hotels and in-orbit experiences.
- Market analysis indicates that the U.S., followed by Russia, Japan, and China, will be the primary source market for space tourism. Industry players will focus their promotional efforts on the U.S. due to its high concentration of affluent consumers and potential for significant market impact.
- In June 2024, Virgin Galactic completed its 12th mission to date, 'Galactic 07,' with one researcher and three private astronauts aboard. The flight served as the seventh research mission. With a focus on advancing space exploration, the mission carried out experiments and demonstrated the company's capabilities, furthering its vision of commercial human spaceflight.
Product Code: GVR-4-68039-955-3
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Scope and Assumptions
- 1.3. List of Data Sources
- 1.4. List of Abbreviations
Chapter 2. Executive Summary
- 2.1. Market Insights
- 2.2. Market Snapshot
- 2.3. Segmental Insights
- 2.4. Space Tourism Market Revenue Estimates, 2017 - 2030
Chapter 3. Market Variables, Trends, & Scope Outlook
- 3.1. Market Segmentation
- 3.2. Space Tourism Market Size & Growth Prospects
- 3.3. Space Tourism Market - Value Chain Analysis
- 3.4. Space Tourism Market Dynamics
- 3.4.1. Market Driver Analysis
- 3.4.1.1. Shifting preferences of the high net worth of income (HNWI) individuals toward spaceflights
- 3.4.1.2. Increased focus on space tourism-related research and development activities by government and private research organizations
- 3.4.1.3. Rising advancements in space tourism technology
- 3.4.2. Market Restraint Analysis
- 3.4.2.1. High cost associated with space tourism
- 3.4.2.2. Risks associated with radiation exposures and black carbon emissions
- 3.4.3. Market Opportunity Analysis
- 3.4.3.1. Increasing developments in spaceports
- 3.4.3.2. Emerging start-ups in suborbital transportation
- 3.4.1. Market Driver Analysis
- 3.5. Space Tourism Penetration & Growth Prospects Mapping
- 3.6. Space Tourism Market - Porter's Five Forces Analysis
- 3.6.1. Supplier power
- 3.6.2. Buyer power
- 3.6.3. Substitution threat
- 3.6.4. Threat from new entrant
- 3.6.5. Competitive rivalry
- 3.7. Space Tourism Market - PESTEL Analysis
- 3.7.1. Political landscape
- 3.7.2. Economic landscape
- 3.7.3. Social landscape
- 3.7.4. Technology landscape
- 3.7.5. Environmental landscape
- 3.7.6. Legal landscape
- 3.8. COVID-19 Impact Analysis
Chapter 4. Space Tourism Market Type Outlook
- 4.1. Space Tourism Market, By Type Analysis & Market Share, 2023 & 2030
- 4.2. Orbital
- 4.2.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
- 4.2.2. Market estimates and forecasts, By Region, 2017 - 2030 (USD Million)
- 4.3. Sub-orbital
- 4.3.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
- 4.3.2. Market estimates and forecasts, By Region, 2017 - 2030 (USD Million)
- 4.4. Others
- 4.4.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
- 4.4.2. Market estimates and forecasts, By Region, 2017 - 2030 (USD Million)
Chapter 5. Space Tourism Market End Use Outlook
- 5.1. Space Tourism Market, By End Use Analysis & Market Share, 2023 & 2030
- 5.2. Government
- 5.2.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
- 5.2.2. Market estimates and forecasts, By Region, 2017 - 2030 (USD Million)
- 5.3. Commercial
- 5.3.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
- 5.3.2. Market estimates and forecasts, By Region, 2017 - 2030 (USD Million)
- 5.4. Others
- 5.4.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
- 5.4.2. Market estimates and forecasts, By Region, 2017 - 2030 (USD Million)
Chapter 6. Space Tourism Market: Regional Estimates & Trend Analysis
- 6.1. Space Tourism Market Share by Region, 2023 & 2030
- 6.2. North America
- 6.2.1. Market estimates and forecasts, 2017 - 2030
- 6.2.2. Market estimates and forecasts, By Type, 2017 - 2030 (USD Million)
- 6.2.3. Market estimates and forecasts, By End Use, 2017 - 2030 (USD Million)
- 6.2.4. U.S.
- 6.2.4.1. Market estimates and forecasts, By Type, 2017 - 2030 (USD Million)
- 6.2.4.2. Market estimates and forecasts, By End Use, 2017 - 2030 (USD Million)
- 6.2.5. Canada
- 6.2.5.1. Market estimates and forecasts, By Type, 2017 - 2030 (USD Million)
- 6.2.5.2. Market estimates and forecasts, By End Use, 2017 - 2030 (USD Million)
- 6.3. Europe
- 6.3.1. Market estimates and forecasts, 2017 - 2030
- 6.3.2. Market estimates and forecasts, By Type, 2017 - 2030 (USD Million)
- 6.3.3. Market estimates and forecasts, By End Use, 2017 - 2030 (USD Million)
- 6.3.4. Germany
- 6.3.4.1. Market estimates and forecasts, By Type, 2017 - 2030 (USD Million)
- 6.3.4.2. Market estimates and forecasts, By End Use, 2017 - 2030 (USD Million)
- 6.3.5. UK
- 6.3.5.1. Market estimates and forecasts, By Type, 2017 - 2030 (USD Million)
- 6.3.5.2. Market estimates and forecasts, By End Use, 2017 - 2030 (USD Million)
- 6.3.6. Russia
- 6.3.6.1. Market estimates and forecasts, By Type, 2017 - 2030 (USD Million)
- 6.3.6.2. Market estimates and forecasts, By End Use, 2017 - 2030 (USD Million)
- 6.4. Asia-Pacific
- 6.4.1. Market estimates and forecasts, 2017 - 2030
- 6.4.2. Market estimates and forecasts, By Type, 2017 - 2030 (USD Million)
- 6.4.3. Market estimates and forecasts, By End Use, 2017 - 2030 (USD Million)
- 6.4.4. China
- 6.4.4.1. Market estimates and forecasts, By Type, 2017 - 2030 (USD Million)
- 6.4.4.2. Market estimates and forecasts, By End Use, 2017 - 2030 (USD Million)
- 6.4.5. Japan
- 6.4.5.1. Market estimates and forecasts, By Type, 2017 - 2030 (USD Million)
- 6.4.5.2. Market estimates and forecasts, By End Use, 2017 - 2030 (USD Million)
- 6.4.6. India
- 6.4.6.1. Market estimates and forecasts, By Type, 2017 - 2030 (USD Million)
- 6.4.6.2. Market estimates and forecasts, By End Use, 2017 - 2030 (USD Million)
- 6.5. Latin America
- 6.5.1. Market estimates and forecasts, 2017 - 2030
- 6.5.2. Market estimates and forecasts, By Type, 2017 - 2030 (USD Million)
- 6.5.3. Market estimates and forecasts, By End Use, 2017 - 2030 (USD Million)
- 6.5.4. Brazil
- 6.5.4.1. Market estimates and forecasts, By Type, 2017 - 2030 (USD Million)
- 6.5.4.2. Market estimates and forecasts, By End Use, 2017 - 2030 (USD Million)
- 6.6. Middle East & Africa
- 6.6.1. Market estimates and forecasts, 2017 - 2030
- 6.6.2. Market estimates and forecasts, By Type, 2017 - 2030 (USD Million)
- 6.6.3. Market estimates and forecasts, By End Use, 2017 - 2030 (USD Million)
Chapter 7. Competitive Landscape
- 7.1. Company Categorization
- 7.2. Company Market Share Analysis, 2023
- 7.3. Strategy Mapping
- 7.3.1. Mergers & Acquisition
- 7.3.2. Partnerships & Collaborations
- 7.3.3. New Product Launches
- 7.3.4. Research And Development
- 7.4. Key Companies
- 7.4.1. Airbus Group SE
- 7.4.1.1. Company overview
- 7.4.1.2. Financial performance
- 7.4.1.3. Type benchmarking
- 7.4.1.4. Strategic initiatives
- 7.4.2. Axiom Space, Inc.
- 7.4.2.1. Company overview
- 7.4.2.2. Financial performance
- 7.4.2.3. Type benchmarking
- 7.4.2.4. Strategic initiatives
- 7.4.3. Blue Origin
- 7.4.3.1. Company overview
- 7.4.3.2. Financial performance
- 7.4.3.3. Type benchmarking
- 7.4.3.4. Strategic initiatives
- 7.4.4. Boeing
- 7.4.4.1. Company overview
- 7.4.4.2. Financial performance
- 7.4.4.3. Type benchmarking
- 7.4.4.4. Strategic initiatives
- 7.4.5. Orion Span
- 7.4.5.1. Company overview
- 7.4.5.2. Financial performance
- 7.4.5.3. Type benchmarking
- 7.4.5.4. Strategic initiatives
- 7.4.6. Space Adventures
- 7.4.6.1. Company overview
- 7.4.6.2. Financial performance
- 7.4.6.3. Type benchmarking
- 7.4.6.4. Strategic initiatives
- 7.4.7. SpaceX
- 7.4.7.1. Company overview
- 7.4.7.2. Financial performance
- 7.4.7.3. Type benchmarking
- 7.4.7.4. Strategic initiatives
- 7.4.8. Virgin Galactic
- 7.4.8.1. Company overview
- 7.4.8.2. Financial performance
- 7.4.8.3. Type benchmarking
- 7.4.8.4. Strategic initiatives
- 7.4.9. Zero2Infinity
- 7.4.9.1. Company overview
- 7.4.9.2. Financial performance
- 7.4.9.3. Type benchmarking
- 7.4.9.4. Strategic initiatives
- 7.4.10. ZERO-G
- 7.4.10.1. Company overview
- 7.4.10.2. Financial performance
- 7.4.10.3. Type benchmarking
- 7.4.10.4. Strategic initiatives
- 7.4.1. Airbus Group SE
Product Code: GVR-4-68039-955-3
List of Tables
- Table 1 Global space tourism market, 2017 - 2030 (USD Million)
- Table 2 Global market estimates and forecasts by region, 2017 - 2030 (USD Million)
- Table 3 Global market estimates and forecasts by type, 2017 - 2030 (USD Million)
- Table 4 Global market estimates and forecasts by end-use, 2017 - 2030 (USD Million)
- Table 5 Global orbital space tourism market by region, 2017 - 2030 (USD Million)
- Table 6 Global suborbital space tourism market by region, 2017 - 2030 (USD Million)
- Table 7 Global government space tourism market by region, 2017 - 2030 (USD Million)
- Table 8 Global commercial space tourism market by region, 2017 - 2030 (USD Million)
- Table 9 North America space tourism market by type, 2017 - 2030 (USD Million)
- Table 10 North America space tourism market by end-use, 2017 - 2030 (USD Million)
- Table 11 U.S. space tourism market by type, 2017 - 2030 (USD Million)
- Table 12 U.S. space tourism market by end-use, 2017 - 2030 (USD Million)
- Table 13 Canada space tourism market by type, 2017 - 2030 (USD Million)
- Table 14 Canada space tourism market by end-use, 2017 - 2030 (USD Million)
- Table 15 Europe space tourism market by type, 2017 - 2030 (USD Million)
- Table 16 Europe space tourism market by end-use, 2017 - 2030 (USD Million)
- Table 17 Germany space tourism market by type, 2017 - 2030 (USD Million)
- Table 18 Germany space tourism market by end-use, 2017 - 2030 (USD Million)
- Table 19 UK space tourism market by type, 2017 - 2030 (USD Million)
- Table 20 UK space tourism market by end-use, 2017 - 2030 (USD Million)
- Table 21 Russia space tourism market by end-use, 2018 - 2031 (USD Million)
- Table 22 Russia space tourism market by end-use, 2019 - 2032 (USD Million)
- Table 23 Asia-Pacific space tourism market by type, 2017 - 2030 (USD Million)
- Table 24 Asia-Pacific space tourism market by end-use, 2017 - 2030 (USD Million)
- Table 25 China space tourism market by type, 2017 - 2030 (USD Million)
- Table 26 China space tourism market by end-use, 2017 - 2030 (USD Million)
- Table 27 India space tourism market by type, 2017 - 2030 (USD Million)
- Table 28 India space tourism market by end-use, 2017 - 2030 (USD Million)
- Table 29 Japan space tourism market by type, 2017 - 2030 (USD Million)
- Table 30 Japan space tourism market by end-use, 2017 - 2030 (USD Million)
- Table 31 Latin America space tourism market by type, 2017 - 2030 (USD Million)
- Table 32 Latin America space tourism market by end-use, 2017 - 2030 (USD Million)
- Table 33 Brazil space tourism market by type, 2017 - 2030 (USD Million)
- Table 34 Brazil space tourism market by end-use, 2017 - 2030 (USD Million)
- Table 35 Middle East and Africa space tourism market by type, 2017 - 2030 (USD Million)
- Table 36 Middle East and Africa space tourism market by end-use, 2017 - 2030 (USD Million)
- Table 37 Key companies striking partnerships & collaborations
- Table 38 Key companies launching new products
List of Figures
- Fig. 1 Space Tourism Market Segmentation
- Fig. 2 Information Procurement
- Fig. 3 Data Analysis Models
- Fig. 4 Market Formulation And Validation
- Fig. 5 Data Validating & Publishing
- Fig. 6 Market Snapshot
- Fig. 7 Segment Snapshot, By Type And End Use
- Fig. 8 Competitive Landscape Snapshot
- Fig. 9 Space Tourism Market Value, 2017-2030 (USD Million)
- Fig. 10 Space Tourism Market - Industry Value Chain Analysis
- Fig. 11 Space Tourism Market - Market Trends
- Fig. 12 Space Tourism Market: Porter's Analysis
- Fig. 13 Space Tourism Market: Pestel Analysis
- Fig. 14 Space Tourism Market, By Type: Key Takeaways
- Fig. 15 Space Tourism Market, By Type: Market Share, 2023 & 2030
- Fig. 16 Space Tourism Market Estimates & Forecasts, By Orbital, 2017 - 2030 (USD Million)
- Fig. 17 Space Tourism Market Estimates & Forecasts, By Sub-Orbital, 2017 - 2030 (USD Million)
- Fig. 18 Space Tourism Market Estimates & Forecasts, By Others, 2017 - 2030 (USD Million)
- Fig. 19 Space Tourism Market, By End Use: Key Takeaways
- Fig. 20 Space Tourism Market, By End Use: Market Share, 2023 & 2030
- Fig. 21 Space Tourism Market Estimates & Forecasts, By Government, 2017 - 2030 (USD Million)
- Fig. 22 Space Tourism Market Estimates & Forecasts, By Commercial, 2017 - 2030 (USD Million)
- Fig. 23 Space Tourism Market Estimates & Forecasts, By Others, 2017 - 2030 (USD Million)
- Fig. 24 Global Space Tourism Market Revenue, By Region, 2023 & 2030 (USD Million)
- Fig. 25 North America Space Tourism Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- Fig. 26 U.S. Space Tourism Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- Fig. 27 Canada Space Tourism Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- Fig. 28 Europe Space Tourism Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- Fig. 29 UK Space Tourism Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- Fig. 30 Germany Space Tourism Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- Fig. 31 Russia Space Tourism Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- Fig. 32 Asia Pacific Space Tourism Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- Fig. 33 China Space Tourism Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- Fig. 34 India Space Tourism Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- Fig. 35 Japan Space Tourism Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- Fig. 36 Latin America Space Tourism Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- Fig. 37 Brazil Space Tourism Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- Fig. 38 Middle East & Africa Space Tourism Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- Fig. 39 Key Company Categorization
- Fig. 40 Space Tourism Market - Key Company Market Share Analysis, 2023
- Fig. 41 Strategic Framework
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