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.
Last year, NASA awarded Blue Origin, Nanoracks, and Northrop Grumman $416 million in contracts toward the study of designs of commercially-operated space stations. With the ISS currently planned for retirement by 2031, and following the growing commercialization of LEO, its government owners are looking at potential replacements. Space tourism is publicized as the next commercial.
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 more than 57,500 passengers heading to space through the decade, generating $20.3 Billion cumulative revenues. 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.
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.