NSR: Space Tourism & Travel Market to Generate $7.9 B, Projecting to Fly 41,000 Passengers by 2030
Suborbital, Orbital Tourism, and Parabolic Flights to Experience Demand as Supply Situation Progresses in 2021
Cambridge, MA – NSR’s Space Tourism & Travel Markets, 2nd Edition report released today forecasts global cumulative revenues of $7.9 B generated by 2030. The market is driven by suborbital tourism, which will accelerate once Virgin Galactic and Blue Origin launches take place in late 2021. While the high-visibility orbital space tourism market, where movie stars and wealthy individuals are paying over $55 million dollars for a ride, will rake in the highest tally cumulatively; a more low-key role – the parabolic flight tourism market – will offer zero-G rides to aficionados who dream of going to space, but do not have the money to pay.
“The Space Tourism & Travel Market continues, despite COVID-19 delays and decades of development,” states Dallas Kasaboski, NSR Senior Analyst and report co-author. ‘Confidence in the technology has grown, especially after SpaceX’s Commercial Crew launches this year, but it will take some time for the market to truly begin to takeoff.”
Virgin Galactic and Blue Origin lead the sub-orbital market and all eyes will be on them to help make a firm statement that this market is “for real”. But when commercial rockets launched crewed missions to the ISS this year, indications pointed to orbital flight potentially taking the lead. The bright side is, that with such high demand, the sky will soon no longer be the limit for space tourism, and this is true across all types of space tourism services.
“Demand exists, but experience is key”, says Hameed Mohamed Manoharan, Analyst and co-author of the report. “No one has flown passengers frequently enough to make passengers feel that it is a safe and reliable ‘tourist’ destination. Once the supply part of the market offers frequent launches, demand will grow further,” he added.
At the moment, only launcher and plane-based models are ready to take off in 2021 for suborbital tourism. Balloon-based launches need to improve TRL as they plan to commence operations by 2023. Parabolic flights, in existent for decades now, have another role to play. It is more accessible, and flights are drastically cheaper and affordable. The reality, however, is that no more than a handful of players offer these services and even if 0-G flights offer value for money, it has not been advertised or directed enough towards key markets that would help raise the revenues.
A common phrase notes: Intensity intensifies, and it can best describe Space Tourism and Travel in the years ahead. As operations begin soon, it will certainly have its share of headlines as it grows into a sustainable and viable space market.
About the Report
NSR’s Space Tourism and Travel Markets, 2nd Edition (STT2) report delivers a clear-cut definitive analysis of the industry’s rapidly growing market. STT2 is the only report covering suborbital, orbital through to parabolic flights, via aircrafts, spaceplanes, balloons, and rocket, to point-to-point travel. This NSR report evaluates and forecasts this market categorized by supply types, vehicle, and services. STT2 also leverages NSR’s extensive and in-depth space and satellite industry knowledge to quantify and forecasts addressable market demand, launch supply, flights, passenger capacity, revenues and ticket pricing. The report incorporates and presents both the market history and recent context to better frame the pace of growth and likely uptake of the industry.
For additional information on this report, including a full table of contents, list of exhibits and executive summary, please visit www.nsr.com or call NSR at 617-674-7743.
Companies and Organizations Mentioned in the Report:
Air Zero G, Aurora Aerospace, Axiom Space, Blue Origin, Boeing, Country of Space Tourism, CosmoCourse, EOS-X Space, Incredible Adventures, NASA, Nancy Vermeulen Space Training Academy, Nanoracks, Roscosmos, Sierra Nevada Corporation, Space Adventures, SpaceX, Space Perspective, Virgin Galactic, PD Aerospace, RSC Energia, Vegitel, World View, XCOR, Zero2Infinity, and Zero G Corporation.
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