Space tourism market is estimated to grow by USD 6.96 billion from 2022 to 2027, growing at a CAGR of 14.1%.
The space tourism market is concentrated owing to the presence of many global and regional companies.
A few prominent companies that offer space tourism market are Airbus Group SE, Axiom Space Inc., Bigelow Aerospace LLC, Blue Origin Enterprises LP, Excalibur Almaz Ltd., PD AeroSpace Ltd., Sierra Space Corp., Space Adventures Inc., Space Exploration Technologies Corp., Space Perspective, The Boeing Co., Virgin Galactic Holdings Inc., World View Enterprises Inc., Zero 2 Infinity SL, and Zero Gravity Corp. The report provides a full list of key companies, their strategies, and the latest developments.
Company Offering:
- Airbus Group SE.: The company offers space tourism services such as earth observation, telecom satellites, human spaceflights, and others.
- Axiom Space Inc.: The company offers space tourism services such as private astronaut space travel programs by training the participants at space agency facilities.
- Bigelow Aerospace LLC: The company offers space tourism services such as a space habitat module, and the B330 which is a next-generation inflatable space habitat.
- Blue Origin Enterprises LP: The company offers space tourism services such as spacecraft for space tourism under the name, New Shepard.
- For details on companies and their offerings
By Geography, the market is classified as North America, Europe, Asia, and Rest of World (ROW). North America will have the largest share of the market. North America will account for 52% of the global space tourism market growth during the forecast period.
The evolution of space tourism concepts is expected to drive the development of space tourism technology in North America since most major space tourism stakeholders, such as SpaceX, are based in this region.
The company is aggressively advancing its space-related technologies in collaboration with various other regional and intercontinental space industry stakeholders. Therefore, it can be concluded that enduring investments in orbital space tourism technologies will also nurture the development of technologies related to space tourism in North America, which, in turn, will drive the growth of the regional market during the forecast period.
Since the beginning of 2021, there has been a rise in space research activities, which has propelled the demand for space tourism in the region. Thus, the regional space tourism market is expected to grow during the forecast period.
