As challenging as 2020 was, one part of our industry progressed and grabbed the media limelight, even into the early part of 2021: space tourism. Several tests, funding rounds and SpaceX’s commercial launch of a NASA crew kept the dream of space tourism alive. Through hardships and long development time, demand for space tourism remains.
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.
More recently, space industry consultancy Northern Sky Research broke out its expectations for suborbital versus orbital tourism. By 2028, NSR expects suborbital will be a $2.8 billion market, with $10.4 billion in total revenue over the next decade, while orbital will be a $610 million market, with $3.6 billion in total revenue over the next decade.
Date: April 1, 2020
Time: 10AM EDT
Space Tourism is one of the most ambitious and exciting opportunities in the satellite and space sector. However, it is also one of the most challenging. For over two decades, numerous commercial entities have been developing the infrastructure, technology, and policy, which would enable space travel and tourism, yet there remains no commercial opportunity today.
As technology development accelerates at an ever-increasing speed, reaching new milestones that will arguably lead to putting commercial tourists in space this year, governments across the world are considering strategic long-term plans to establish a lasting human presence off-Earth