Growing Commercial Passenger Interest, Along with Government Funding and Demand, Drive Space Tourism & Travel Market Revenues Cambridge, MA- January 14th, 2022- 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.
It’s estimated by space consultancy Northern Sky Research that the market for space tourism will reach $10.4 billion by 2028. Beyond tourism, some companies are aiming to set up communications on the moon, there’s even the possibility of using it for resources and fuel.
According to Northern Sky Research, a company that specializes in space sector projections, Musk’s initiative to take famous people into space is a means to an end. “He will take sightseeing flights to develop his spaceships and create reliability, as well as make money from cargo,”
On Jul 11 and Jul 20, 2021 two major commercial space missions have been planned. The heads of major business houses namely, Virgin Group and Amazon would be going to outer space to demonstrate the credibility of their company’s spacecraft….The space industry consultancy Northern Sky Research expects the market only for suborbital tourism to be $2.8.
A year and a half ago, Virgin Galactic went public. Since then, the company has generated no “significant revenue”, nothing in the past two quarters, and has pushed the start of their commercial suborbital tourism service to 2022. Over on the orbital front, companies like Sierra Nevada, Boeing, and Blue Origin, are facing similar delays,.