The global space tourism market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. Space tourism is emerging type of tourism. In this type, passengers are allowed to travel in the space through space flights. There are many market players available in the market those are offering this opportunity.
Increasing investment for research and development from key players in the global market is a key factor driving growth of the global space tourism market. In addition, many countries are focusing on development of better space vehicles with advanced safety features and high turn-around capacity so they can launch multiple trips within short period of time. Also, some countries are focusing on development of space hotels, which is expected to result in growth of space tourism in the near future. For instance, the US based The Gateway Foundation is working on development of space hotel and is expected to open or operational in the year 2025.
In addition, growing support from various space research agencies and organizations is another factor propelling growth of the target market. For instance, UK space agency and NASA have active participation in space tourism program. Furthermore, space organizations of some other countries are also participating in development and growth of space tourism.
Increasing focus on development of new space flights among the key players is a major trend witnessed in the global market. In addition, many key players are focusing on fund raising activity is another key trend observed in the target market and is expected to fuel growth of the global market in the near future. Key players need to do technological advancement and development of infrastructure for the launch of space tours, for which they are focusing to increase their fund.
For detailed understanding of market dynamics, the global market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America region is expected to hold significant revenue share in the global space tourism market followed by Europe. This is owing to presence of commercial space governing organizations, increasing adoption of advance space technology, presence of major space tourism companies, and highest number of billionaires in countries in the region. Moreover, increased support from government agency NASA for commercializing visit to International Space Station (ISS) is another factor boosting growth of the North America’s space tourism market.
Scope of the Report:
Report Feature Details
Base Year: 2018
Projection Period: 2019-2029
Market Details: Total revenue and forecast, CAGR, Market value, share, and Y-o-Y growth by segment and region
Segment Covered: Type and Application
Region Covered: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Report Coverage: Market growth driving factors, challenges & pitfalls, opportunities, trends, key players analysis, and region analysis
Global Space Tourism Market, By Type:
Global Space Tourism Market, By Application:
Key Players Covered:
Key players operating in the market includes, Space Adventures, Inc., EUROPEAN SPACE AGENCY, Virgin Galactic LLC, Excalibur Almaz, SpaceX, Boeing Co., BLUE ORIGIN, Orion Span, Bigelow Aerospace, Zero 2 Infinity, PD AeroSpace, Ltd, and World View Enterprises, Inc.
Key features of the study:
Foresight Market Research provides detailed analysis on global market in our report- Global Space Tourism Market by type, application, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global space tourism market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, ongoing trends, market expansion, and marketing tactics used overall the globe.
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