Space Tourism Market Expected to reach $1640 Mn, with a CAGR of 16.3% during 2018-2025

Los Angeles United States - October 5, 2018 /MarketersMEDIA/ —

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. 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.

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.

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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


Market segment by Regions/Countries, this report covers

United States

Europe

China

Japan

Southeast Asia

India

Central & South America

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Release ID: 418220