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Space Travel/Tourism Market Research Report Information By Direct Supplier (Airlines, Hotel Companies, Train, Tour Operators, and Government Bodies), By Indirect Supplier (OTA (Online Travel Agency), Traditional Travel Agencies, TMCs (Travel Management Companies), Corporate Buyers, and Aggregators), By Age (Under 15, 16 to 25, 26 to 35, 36 to 45, 46 to 55, and Over 55), By Tourism Type (Stratospheric, Suborbital, Orbital, and Others), By Demographics (Male, Female, Kid), By Nationality (Domestic, and International), By Booking Channel (Offl


ID: MRFR/A&D/17362-HCR | 128 Pages | Author: Sejal Akre| June 2024

Global Space Travel/Tourism Market Overview

Space Travel/Tourism Market Size was valued at USD 0.71 Billion in 2022. The Space Travel/Tourism market industry is projected to grow from USD 1.00 Billion in 2023 to USD 15.5 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 40.80% during the forecast period (2023 - 2032). Growing public interest and curiosity about space, fueled by media coverage, documentaries, and high-profile space missions, contribute to the demand for space tourism are the key market drivers enhancing the market growth.


Space Travel Tourism Market Overview.jpg


 


Source Secondary Research, Primary Research, MRFR Database and Analyst Review


Space Travel/Tourism Market Trends


Growing public interest fueled by media coverage and high-profile space missions anticipated market growth.


Market CAGR for the technological advancements in area tour aren't handiest riding the industry forward but additionally influencing diverse sectors on Earth. SpaceX, underneath the leadership of Elon Musk, has been at the leading edge of growing reusable rocket era. This innovation has appreciably reduced the price of launching payloads into space, making space journey greater economically possible. According to data from SpaceX, the reuse of Falcon 9 rockets has brought about a value discount of about 60%, demonstrating the transformative effect of technological development at the economics of area tour. Moreover, traits in satellite tv for pc era, as exemplified through companies like OneWeb and SpaceX's Starlink mission, are improving connectivity, imparting high-velocity net get right of entry to to faraway areas and bridging the digital divide.


Additionally, the developing hobby in area journey and tourism is essentially pushed by way of good sized media insurance and high-profile space missions performed by organizations like Virgin Galactic and Blue Origin. Virgin Galactic's a success suborbital spaceflights, coupled with founder Richard Branson's excessive-profile participation, have captured worldwide interest. According to records from Nielsen, the media coverage surrounding Virgin Galactic's milestones led to a sizeable increase in public hobby in area tourism, reflected in rising tv viewership and on line engagement. The a success spaceflight of Blue Origin's New Shepard rocket with Jeff Bezos onboard generated comparable stages of media interest, contributing to a surge in public interest and exhilaration approximately area exploration.


Space tour and tourism are serving as catalysts for schooling and group of workers improvement, in particular in science, generation, engineering, and mathematics (STEM) fields. Organizations which includes NASA and private area corporations are actively concerned in academic outreach applications. NASA's STEM engagement projects have reached hundreds of thousands of students globally, fostering an interest in space-associated careers. According to the European Space Agency (ESA), the demand for professional professionals inside the space region is growing rapidly, with a projected shortage of qualified workers within the coming years. The space industry's emphasis on STEM training isn't best growing a pipeline of talent for the world however also contributing to a broader fashion of technological literacy and innovation throughout diverse industries. Thus, driving the Space Travel/Tourism market revenue.


Space Tourism Market Segment Insights


Space Travel/Tourism Direct Supplier Insights


The space travel/tourism market segmentation, based on Direct Supplier includes Airlines, Hotel Companies, Train, and Tour Operators. The tour operators segment dominated the market, accounting for double growth of market. Tour operators excel in curating and offering comprehensive space travel packages that encompass various elements of the journey, from pre-flight training to the actual spaceflight experience and post-flight activities.


Space Travel/Tourism Indirect Supplier Insights


The space travel/tourism market segmentation, based on Indirect Supplier, includes OTA (Online Travel Agency), Traditional Travel Agencies, TMCs (Travel Management Companies), Corporate Buyers, and Aggregators. The traditional travel agencies category generated the most income. The demand for space tourism necessitates the construction of spaceports, launch facilities, and related infrastructure. This leads to significant investments and economic activity in the regions where these facilities are located.


Space Travel/Tourism Age Insights


The space travel/tourism Industry segmentation, based on Age, includes Under 15, 16 to 25, 26 to 35, 36 to 45, 46 to 55, Over 55. The 36 to 45 are dominating segment the revenue generated from the sale of tickets and registration fees through online platforms. Space tourism hubs become new economic centers, attracting tourism-related businesses, hotels, restaurants, and other services.


Space Travel/Tourism Type Insights


The market space travel/tourism  segmentation, based on Tourism Type, includes Stratospheric, Suborbital, Orbital, and Others. The segment of suborbital is the dominant segment accounting for 44% market revenue. This is attributed to the current focus and developments in the space tourism industry. Suborbital tourism, which involves brief journeys beyond the Earth's atmosphere without entering orbit, is gaining prominence due to its relatively lower complexity and cost compared to orbital or interplanetary travel.


Figure 1: Space Travel/Tourism Market, by Tourism Type, 2022 & 2032 (USD Billion)


Space Travel/Tourism Market, by Tourism Type, 2022 & 2032


Source Secondary Research, Primary Research, MRFR Database and Analyst Review


Space Travel/Tourism Demographics Type Insights


The space travel/tourism market segmentation, based on Demographics, includes male, female, and kids. The male segment dominated the market, accounting for double growth of market. Increased investment in space tourism stimulates research and development, leading to breakthroughs in various scientific and engineering fields.


Space Travel/Tourism Nationality Insights


The space travel/tourism market segmentation, based on Nationality, includes Domestic, and International. The international segment dominated the market, accounting for double growth of market. The growth of the space industry encourages interest in science, technology, engineering, and mathematics (STEM) fields. Educational programs and initiatives related to space travel can help cultivate a skilled workforce for the future, driving innovation in multiple sectors.


Space Travel/Tourism Booking Channel Insights


The space travel/tourism market segmentation, based on Booking Channel, includes Offline Booking, and Online Booking. The online booking segment dominated the market, accounting for double growth of market. The increased accessibility to space opens up opportunities for satellite deployment, leading to advancements in telecommunications, Earth observation, and navigation services.


Space Travel/Tourism Tour Type Insights


The space travel/tourism Industry segmentation, based on Tour Type, includes Individual Travel, Professional Groups, and Group Travels. The professional groups segment dominated the market, accounting for double growth of market. Professional groups typically include organizations, research institutions, or companies that arrange space travel experiences for their employees, researchers, or stakeholders.


Space Travel/Tourism Regional Insights


By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Space Travel/Tourism market area will dominate this market, owing to an increase in the number of persons affected by technological advancements in the event portfolio. In addition, increased investment in enterprise research and development would accelerate the growth of the North American Space Travel/Tourism market.


Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 2: SPACE TRAVEL/TOURISM MARKET SHARE BY REGION 2022 (USD Billion)


SPACE TRAVEL/TOURISM MARKET SHARE BY REGION 2022


Source Secondary Research, Primary Research, MRFR Database and Analyst Review


Europe Space Travel/Tourism market accounts for the second-largest market share due to the space-based technologies and services, and education and workforce development. Further, the German Space Tourism market held the largest market share, and the UK Space Travel/Tourism market was the fastest growing market in the European region


The Asia-Pacific Space Travel/Tourism Market is expected to grow at the fastest CAGR from 2023 to 2032. This is leading to increased accessibility to space opens up opportunities for satellite deployment, leading to advancements in telecommunications, Earth observation, and navigation services. Moreover, China’s Space Travel/Tourism market held the largest market share, and the Indian Space Travel/Tourism market was the fastest growing market in the Asia-Pacific region.


Space Travel/Tourism Key Market Players & Competitive Insights


Leading market players are investing heavily in research and development in order to expand their service lines, which will help the Space Travel/Tourism market, grow even more. The space travel/tourism market is a fast-paced and competitive industry that includes everything from space events with trade shows and conferences, with important market developments and the landscape of rivalry greatly relies on the kind and scope of events, and also the region in which they occur. To expand and survive in a more competitive and rising market climate, Space Travel/Tourism industry must offer business meetings, conventions, and various other kinds of incidents constitute a part of the space travel/tourism market.


Each of these markets has its own set of characteristics and competitors in the space tourism industry to benefit clients and increase the market sector. In recent years, the space travel/tourism industry has offered some of the most significant advantages to events. Major players in the space travel/tourism market, including Blue Origin, Virgin Galactic, Space X, Airbus Group SE, Boeing, ZERO-G, Airbus Group SE, Axiom Space, Bigelow Aerospace, Orion Span, Space Adventures, Space Perspective, World View Enterprises, Zero2Infinity, and others, are attempting to increase market demand by investing in research and development operations.


Blue Origin, founded by using Jeff Bezos in 2000, is a private aerospace producer and spaceflight services agency situated in Kent, Washington. The organization is devoted to growing technologies that allow non-public area travel and exploration. Blue Origin's challenge is to build a future in which hundreds of thousands of human beings can stay and paintings in area, fostering a sustainable and thriving space economy. The business enterprise is known for its emphasis on reusable rocket technology, verified via the New Shepard suborbital rocket and tablet gadget. Blue Origin envisions a future where access to area is ordinary, imparting opportunities for scientific studies, business endeavors, and space tourism. With a focal point on innovation, protection, and long-term sustainability, Blue Origin continues to make widespread strides in advancing area exploration and contributing to the wider development of the space enterprise.


Virgin Galactic, led via entrepreneur Sir Richard Branson, is a pioneering space tourism commercial employer organization that goals to make suborbital spaceflight available to non-public human beings. Founded in 2004, Virgin Galactic is part of the wider Virgin Group and is set up in Mojave, California. The enterprise organisation's flagship spaceplane, VSS Unity, is designed to preserve paying passengers on an adventure to the threshold of area, presenting a couple of minutes of weightlessness and breathtaking perspectives of Earth. Virgin Galactic has been at the main edge of the commercial place race, with a willpower to safety and innovation. Beyond vicinity tourism, the commercial enterprise company is actively exploring possibilities for factor-to-aspect space journey and satellite release services. Virgin Galactic represents a powerful and transformative imaginative and prescient for the destiny of space exploration, driven via the usage of the belief that everyone need to have the opportunity to revel in area.


Key Companies in the Space Travel/Tourism market include



  • Blue Origin

  • Virgin Galactic

  • Space X

  • Airbus Group SE

  • Boeing

  • ZERO-G

  • Airbus Group SE

  • Axiom Space

  • Bigelow Aerospace

  • Orion Span

  • Space Adventures

  • Space Perspective

  • World View Enterprises

  • Zero2Infinity

  • Other


Space Travel/Tourism Industry Developments


For Instance, In 2023 Virgin Galactic launched two 2 million-year-old fossils of human ancestors into space on a tourist flight.


For Instance, In 2023 Vast's announcement, SpaceX will be launching the world's first commercial space station, Vast Haven-1. Two human spaceflight missions will shortly follow it to the space station. Haven-1 is set to become a fully functional space station that will be connected as a module to the larger Vast space station currently being developed and will operate independently.


Space Travel Market Segmentation


Space Travel/Tourism Direct Supplier Outlook



  • Airlines

  • Hotel Companies

  • Train

  • Tour Operators

  • Government Bodies


Space Travel/Tourism Indirect Supplier Outlook



  • OTA (Online Travel Agency)

  • Traditional Travel Agencies

  • TMCs (Travel Management Companies)

  • Corporate Buyers

  • Aggregators


Space Travel/Tourism Age Outlook



  • Under 15

  • 16 to 25

  • 26 to 35

  • 36 to 45

  • 46 to 55

  • Over 55


Space Travel/Tourism Tourism Type Outlook



  • Stratospheric

  • Suborbital

  • Orbital

  • Others


Space Travel Demographics Outlook



  • Male

  • Female

  • Kid


Space Travel/Tourism Nationality Outlook



  • Domestic

  • International


Space Travel/Tourism Booking Channel Outlook



  • Offline Booking

  • Online Booking


Space Travel/Tourism Tour Type Outlook



  • Individual Travel

  • Professional Groups

  • Group Travels


Space Travel/Tourism Regional Outlook



  • North America

    • US

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • Latin America



Report Attribute/Metric Details
Market Size 2022 USD 0.71 Billion
Market Size 2023 USD 1.00 Billion
Market Size 2032 USD 2421.5426 Billion
Compound Annual Growth Rate (CAGR) 40.80% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Direct Supplier, Indirect Supplier, Age, Tourism Type, Demographics, Nationality, Booking Channel, Tour Type, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Blue Origin, Virgin Galactic, Space X, Airbus Group SE, Boeing, ZERO-G, Airbus Group SE, Axiom Space, Bigelow Aerospace, Orion Span, Space Adventures, Space Perspective, World View Enterprises, Zero2Infinity
Key Market Opportunities The growth of the space industry encourages interest in science, technology, engineering, and mathematics (STEM) fields.
Key Market Dynamics The demand for space tourism necessitates the construction of spaceports, launch facilities, and related infrastructure.


Frequently Asked Questions (FAQ) :

The Space Travel/Tourism market size was valued at USD 0.71 Billion in 2022.

The market is projected to grow at a CAGR of 40.80% during the forecast period, 2023-2032.

North America had the largest share in the market

The key players in the market are Blue Origin, Virgin Galactic, Space X, Airbus Group SE, Boeing, ZERO-G, Airbus Group SE, Axiom Space, Bigelow Aerospace, Orion Span, Space Adventures, Space Perspective, World View Enterprises, Zero2Infinity

The tour operators category dominated the market in 2022.

The traditional travel agencies had the largest share in the market.

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