Global Sub-Orbital Transportation and Space Tourism Market to Reach $2.58 Billion by 2031
Space transportation has garnered significant interest from several space industry players in the past few years. In the past, most space transportation has been focused on cargo supply missions to the International Space Station (ISS) and launch services, but currently, this focus has shifted to in-space transportation, planetary explorations, crewed missions, sub-orbital transportation, and space tourism. Several companies, including SpaceX, Blue Origin, and Virgin Galactic, have been focusing on developing platforms such as rocket-powered sub-orbital vehicles that will enable the industry to carry out sub-orbital transportation and space tourism.
The global sub-orbital transportation and space tourism market is witnessing numerous emerging players such as PD AeroSpace, LTD, Equatorial Space Systems, i-Space, OneSpace, Space Perspective, and Suborbitality s.r.o., which are all highly focused on developing sub-orbital transportation and space tourism platforms. These companies’ offerings include high-altitude balloons and reusable sub-orbital spacecraft. Along with these commercial companies, national space agencies such as the National Aeronautics and Space Administration (NASA) and European Space Agency (ESA) are also working along with these emerging commercial space entities.
There are several factors that are contributing to the significant growth of the global sub-orbital transportation and space tourism market. Some of these factors include focused efforts to enable space transportation, emerging start-ups in sub-orbital transportation, and rise in development of low-cost launching sites. The global sub-orbital transportation and space tourism market has the potential to become a disruptive industry trend in the upcoming decades.
According to the latest report by CRI Report, titled ‘Global Sub-Orbital Transportation and Space Tourism Market – Analysis and Forecast (2021-2031)’, the global sub-orbital transportation and space tourism market is estimated to reach $2.58 billion in 2031 from $428.8 million in 2020, at a growth rate of 17.15% during the forecast period.
Companies Mentioned in the Report:
• Blue Origin
• Equatorial Space Systems Pte Ltd.
• exos Aerospace Systems & Technologies, inc.
• Near Space Corp.
• Orbspace
• PD AeroSpace, LTD
• Raven Aerostar
• SpaceX
• Swedish Space Corporation
• Space Perspective
• UP Aerospace Inc.
• Virgin Galactic
• World View Enterprises
• Zero Gravity Corporation
• Zero 2 Infinity S.L
Key Questions Answered in this Report:
• What are the underlying structures resulting in the emerging trends within the sub-orbital transportation and space tourism market?
• What are the potential opportunities in the market for new OEMs and other players to enter?
• What are the driving factors attributing to the growth of the sub-orbital transportation and space tourism market, and what are the challenging factors?
• Which application and end user are expected to lead the sub-orbital transportation and space tourism market by 2031?
• What was the market value of the regions in the sub-orbital transportation and space tourism market in 2020, and how is the market estimated to grow during the forecast period 2021-2031?
• What is the investment scenario in the sub-orbital transportation and space tourism market?
• How is the industry expected to evolve during the forecast period 2021-2031?
• What are the key developmental strategies that are implemented by the key players to sustain the competitive market?