The space tourism and travel market has received significant attention in the media since last year’s groundbreaking suborbital flights from Virgin Galactic and Blue Origin. While the space tourism industry received criticism for polluting the atmosphere and being an exclusive club, other missions such as SpaceX Inspiration-4 were praised with more enthusiasm around the world.
Everyone loves a good selfie. Especially from unique and exotic locations. Even Robots are getting ‘in on the fun’ most recently with NASA’s James Web Space Telescope sending back its own version of a ‘selfie’ – “strictly for engineering and alignment purposes” naturally. As Space Tourism continues to increase, the amount of data traffic ‘strictly.
A study from analysts at Northern Sky Research (NSR) suggests that by 2031 some 57,500 passengers will be taking a trip into space. The value of this space tourism and orbital travel will capture the majority of an overall cumulative $20.3 billion in related revenues. The numbers come from NSR’s Space Tourism & Travel Markets,.
As the most stable and lucrative segment through 2031, Orbital Travel is set to capture 66% of total revenue opportunity. Orbital Travel has strong government support with initiatives such as the Commercial Crew program and commercial company led Space Station development. High ticket prices, coupled with very strong demand, results in a fast-growing market, even amongst delays.
NSR’s newly released Space Tourism & Travel Markets, 3rd Edition (STT3) report sees over 57,500 passengers heading to ‘space’ through the decade, generating $20.3 Billion cumulative revenues. NSR’s STT3 finds the rapid growth seen in the Space Tourism & Travel Markets driven by a growing commercial passenger interest, along with government funding and demand. As the most stable and lucrative.