Global Space Tourism Market By Type (Suborbital, Orbital), By End-User ((Common People, Upper Rich People, HNWI, UNHWI), By Region And Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends And Forecast 2019-2028 (Includes Business Impact of COVID-19)

                                          
Trusted Business Insights has published a comprehensive market research report on, “Global Space Tourism Market by Type (Suborbital, Orbital), By 
End-Use
r (Common People, Upper Rich People, HNWI, UNHWI), and by Region – Global Forecast to 2028.”, which offers a holistic view of the global Space Tourism market through systematic segmentation that covers every aspect of the target market.
The global Space Tourism market is projected to be US$ 435.1 Mn in 2018 to reach US$ 1,566.5 Mn by 2028 at a CAGR of 13.7%.
Space tourism, as the term suggests, relates to the travel for recreational and leisure purpose into space. This type of travel encompasses orbital, suborbital and lunar space tourism. Earlier, it was only rigorously trained astronauts that made space missions outside of the Earth’s surface, however, now with a strong evolution of technology, non-qualified people are also able to travel beyond Earth into space. Several companies have pioneered space tourism, including SpaceX, Virgin Galactic, Blue Origin, and others.

Robust technological transformation in the field of space travel, including the development of maximum superior rockets and spacecraft, allowing space tourists to travel into space is one of the major factor expected to provide strong growth to the global space tourism market. Increasing R&D investments by several governments and non-government players towards the development of space exploration programs in major countries including the US, Russia, China, India, etc. in another key factor likely fuel growth of the target market.

Global Space Tourism Market Revenue (US$ Mn), 2018–2028
Moreover, Virgin Galactic and Blue Origin are said to charge approximately between US$ 200,000 – 300,000 for a single ticket, which is comparatively expensive. The high cost of space travel is one of the key factor challenging the growth of the global space tourism market. Nonetheless, with several companies entering this niche market, the price of space tourism is likely to come down in the coming years.

Global Space Tourism Market by Type, 2018

On the basis of region, the market is segmented into North America, Europe, APAC, South America and MEA. Global space tourism market is expected to grow steadily over the forecast period. Major factors affecting the market positively include increasing enthusiasm related to space travel amongst adventure travellers, the evolution of technology regarding space aircraft, lower requirement for training, and others. However, the high cost of investment and risk associated with space tourism are factors likely to restrain the growth of the market. In terms of geography, North America dominates a majority share of the global space tourism market, owing to the presence of several key players in the region.

The research report on the global Space Tourism market includes profiles of some of major companies such as Airbus SE, The Boeing Company, Space Exploration Technologies Corp., Virgin Galactic, LLC, Blue Origin, LLC, Bigelow Aerospace, LLC, Space Adventures, Ltd., Zero 2 Infinity , Orion Span, Inc., Exos Aerospace Systems & Technologies, Space Island Group


Key Market Segments:

Type of SpaceFlight

 	
Suborbital
 	
Orbital

Type of Passengers

 	
Common People
 	
Upper Rich People
 	
HNI (High Net Worth Individual)
 	
UHNWI (Ultra High Net Worth Individual)

Key Market Players included in the report:

 	
Airbus SE
 	
The Boeing Company
 	
Space Exploration Technologies Corp.
 	
Virgin Galactic, LLC
 	
Blue Origin, LLC
 	
Bigelow Aerospace, LLC
 	
Space Adventures Ltd.
 	
Zero 2 Infinity
 	
Orion Span Inc.
 	
Exos Aerospace Systems & Technologies
 	
Space Island Group