Summary

Space Travel or Tourism Market Research Report Information By Destination (Orbital Spaceflight, Sub-orbital Spaceflight, and Lunar Spaceflight), By Duration (Up to 8 Days, and More than 8 Days), By End-users (Billionaires & Ultra-High-Net-Worth Individual (UHNWI), and Adventure Seekers & Science Enthusiast), By End-users Gender (Men, and Women) And By Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) –Market Forecast Till 2032
Market Overview
In 2022, the space travel or tourism market was estimated at USD 186.3 million. The space travel or tourism market is expected to increase from USD 60.9 million in 2023 to USD 110.7 billion in 2024 and USD 3,743.4 million by 2032, with a compound annual growth rate (CAGR) of 55.3% throughout the forecast period (2024-2032).
Space travel, sometimes known as tourism, is the activity of traveling beyond the Earth's atmosphere for recreational, leisure, or business purposes. This burgeoning sector of the space industry allows citizens to experience spaceflight and observe the unusual conditions of space, such as microgravity, the Earth from afar, and the abyss beyond our planet's atmosphere. Space tourism can include suborbital and lunar spaceflights.
Space tourism is quickly spreading because of rising interest and technological advances. Market participants provide suborbital flights, which drives market expansion. However, regulatory difficulties and safety concerns remain. Rising affluence and enthusiasm in lunar exploration are driving market growth, with different experiences such as space treks and hotels on the horizon. Collaborations among industrial players encourage innovation and advancements in space observation technology. Regardless of developing economy problems, sustainable practices and international cooperation promote long-term market survival.

Market Segment insights
The space travel or tourism market is divided into three segments based on destination: orbital spaceflight, sub-orbital spaceflight, and lunar spaceflight.
The space travel or tourism market is divided into two segments based on duration: up to 8 days and more than 8 days.

Regional insights
The study covers North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The study covers five regions: North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. North America is expected to dominate the Space Travel or Tourism market in 2023, with Asia Pacific posting the fastest CAGR throughout the forecast period.
North America has the biggest market share in the Space Travel or Tourism industry, with 59.9% in 2023. The market was valued at USD 36.5 million in 2023 and is expected to reach USD 2,254.2 million in 2032, increasing at a CAGR of 55.0%.
Space tourism is gaining traction in Europe, with companies such as Space Adventures and Virgin Galactic eyeing the market. Virgin Galactic, for example, has formed partnerships with European spaceports to provide suborbital flights to tourists. However, legislative constraints, including as airspace laws and liability concerns, impede commercial spaceflight operations.
The UAE and Israel are spearheading the Middle East's contribution to global space cooperation, and the region is becoming more involved. The UAE's space project has achieved tremendous development since its start by the Mohammed Bin Rashid Space Centre (MBRSC) and the UAE Space Agency. Last year, the Arab world's first interplanetary mission, the Hope Mars Mission, was successfully launched. This nation is expected to have a human settlement on Mars by 2117, demonstrating its long-term commitment to space exploration.
Major Players
Space Adventure Limited, Blue Origin, SpaceX, Axiom Space, Inc., Virgin Galactic, SpaceVIP, Boeing, zero 2 Infinity S.L., Rocket Lab USA Inc., and Skyroot Aerospace Pvt. Ltd. are the leading participants in the space travel or tourism market.

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Table of Contents

TABLE OF CONTENTS
1 EXECUTIVE SUMMARY 15
1.1 MARKET ATTRACTIVENESS ANALYSIS 16
2 MARKET INTRODUCTION 18
2.1 DEFINITION 18
2.2 SCOPE OF THE STUDY 18
2.3 RESEARCH OBJECTIVE 18
2.4 MARKET STRUCTURE 19
3 RESEARCH METHODOLOGY 20
4 MARKET DYNAMICS 27
4.1 INTRODUCTION 27
4.2 DRIVERS 28
4.2.1 GROWING INTEREST IN SPACE EXPLORATION 28
4.2.2 SHIFTING PERCEPTION OF SPACE TRAVEL 28
4.2.3 THE ERA OF COMMERCIALIZATION OF GLOBAL SPACE TRAVEL 28
4.2.4 COLLABORATIVE EFFORTS FOR SPACE SUSTAINABILITY 29
4.2.5 DRIVERS IMPACT ANALYSIS 29
4.3 RESTRAINTS 30
4.3.1 HIGH COST OF SPACE TRAVEL 30
4.3.2 SAFETY CONCERNS ASSOCIATED WITH SPACE TRAVEL 30
4.4 OPPORTUNITY 31
4.4.1 INCREASE IN NUMBER OF WEALTHY INDIVIDUALS 31
4.4.2 RISING INTEREST FOR LUNAR SPACEFLIGHT 31
4.4.3 REVOLUTIONIZING THE SPACE TOURISM INDUSTRY 31
4.4.4 SUSTAINABLE SPACE TOURISM'S GLOBAL 31
4.5 CHALLENGES 32
4.5.1 REGULATORY CHALLENGES 32
4.5.2 SPACE TRAVEL IN ITS INFANCY IN EMERGING ECONOMIES 32
4.6 MARKET & TECHNOLOGY TRENDS 32
4.6.1 DEVELOPMENTS AND COLLABORATIVE STRATEGIES ADOPTED BY MARKET PLAYERS TO SUPPORT INDUSTRY GROWTH 32
4.6.2 ENHANCING SPACE TOURISM THROUGH ADVANCEMENTS IN SPACE OBSERVATION TECHNOLOGY 33
4.6.3 TECHNOLOGICAL ADVACEMENTS TO SUPPORT MARKET GROWTH 33
4.7 COVID IMPACT 33
4.7.1 IMPACT ON SPACE INDUSTRY 33
4.7.2 IMPACT ON SPACE TRAVEL OR TOURISM INDUSTRY 34
4.7.3 IMPACT ON SPACE TOURISM COMPANIES 34
4.7.4 MARKET RECOVERY ANALYSIS 34
4.7.5 YOY GROWTH 2020-2022 35
5 MARKET FACTOR ANALYSIS 36
5.1 VALUE CHAIN ANALYSIS 36
5.1.1 SPACECRAFT MANUFACTURERS 36
5.1.2 LAUNCH SERVICE PROVIDERS 36
5.1.3 SPACE TOURISM OPERATORS 37
5.1.4 SPACE TOURISM INFRASTRUCTURE 37
5.1.5 END-USERS 37
5.2 PORTER’S FIVE FORCES MODEL 38
5.2.1 THREAT OF NEW ENTRANTS 38
5.2.2 BARGAINING POWER OF SUPPLIERS 39
5.2.3 THREAT OF SUBSTITUTES 39
5.2.4 BARGAINING POWER OF BUYERS 39
5.2.5 INTENSITY OF RIVALRY 39
5.3 REGULATORY OUTLOOK 40
5.4 MARKET SWOT ANALYSIS 42
5.5 MARKET PESTEL ANALYSIS 42
5.5.1 POLITICAL 42
5.5.2 ECONOMIC 42
5.5.3 SOCIOLOGICAL 43
5.5.4 TECHNOLOGICAL 43
5.5.5 LEGAL 43
5.5.6 ENVIRONMENTAL 43
5.6 CASE STUDIES 44
5.6.1 EXPLORING THE POTENTIAL OF PARABOLIC FLIGHT INDUSTRY AMIDST CHALLENGES IN SPACE TOURISM 44
5.6.1.1 INTRODUCTION: 44
5.6.1.2 BACKGROUND: 44
5.6.1.3 MARKETING CASE STUDY: 44
5.6.1.4 CONCLUSION: 44
5.6.2 ELON MUSK AND SPACEX: ENTREPRENEURIAL EMANCIPATION IN THE NEWSPACE INDUSTRY 44
5.6.2.1 INTRODUCTION: 44
5.6.2.2 BACKGROUND: 44
5.6.2.3 CONCLUSION: 45
5.6.3 ITER AD ASTRA: A CASE STUDY IN SPACE SETTLEMENT 45
5.6.3.1 INTRODUCTION: 45
5.6.3.2 BACKGROUND: 45
5.6.3.3 CONCLUSION: 45
5.7 NUMBER OF BILLIONAIRES STATISTICS 46
6 GLOBAL SPACE TRAVEL OR TOURISM MARKET, BY DESTINATION (USD MILLION) (2019-2032) 47
6.1 OVERVIEW 47
6.2 ORBITAL SPACEFLIGHT 48
6.3 SUB-ORBITAL SPACEFLIGHT 48
6.4 LUNAR SPACEFLIGHT 48
7 GLOBAL SPACE TRAVEL OR TOURISM MARKET, BY DURATION (USD MILLION) (2019-2032) 50
7.1 INTRODUCTION 50
7.2 UP TO 8 DAYS 51
7.3 MORE THAN 8 DAYS 51
8 GLOBAL SPACE TRAVEL OR TOURISM MARKET, BY END-USERS (USD MILLION) (2019-2032) 52
8.1 INTRODUCTION 52
8.2 BILLIONAIRES & ULTRA-HIGH-NET-WORTH INDIVIDUAL (UHNWI) 53
8.3 ADVENTURE SEEKERS & SCIENCE ENTHUSIAST 53
9 GLOBAL SPACE TRAVEL OR TOURISM MARKET, BY END-USERS GENDER (USD MILLION) (2019-2032) 54
9.1 INTRODUCTION 54
9.2 MEN 55
9.3 WOMEN 55
10 GLOBAL SPACE TRAVEL OR TOURISM MARKET, BY REGION (USD MILLION) (2019-2032) 56
10.1 OVERVIEW 56
10.2 NORTH AMERICA 58
10.2.1 US 62
10.2.2 CANADA 63
10.2.3 MEXICO 64
10.3 EUROPE 66
10.3.1 GERMANY 71
10.3.2 UK 72
10.3.3 FRANCE 73
10.3.4 ITALY 75
10.3.5 SPAIN 76
10.3.6 REST OF EUROPE 77
10.4 ASIA-PACIFIC 79
10.4.1 CHINA 84
10.4.2 JAPAN 85
10.4.3 INDIA 86
10.4.4 SOUTH KOREA 87
10.4.5 AUSTRALIA 88
10.4.6 REST OF ASIA-PACIFIC 89
10.5 MIDDLE EAST & AFRICA 91
10.6 SOUTH AND CENTAL AMERICA 95
11 COMPETITVE LANDSCAPE 99
11.1 INTRODUCTION 99
11.2 COMPETITIVE BENCHMARKING 100
11.3 COMPANY MARKET SHARE ANALYSIS, 2023 101
11.4 KEY DEVELOPMENTS & GROWTH STRATEGIES 101
1.1.1 NEW PRODUCT DEVELOPMENT 101
1.1.2 MERGER AND ACQUISTION 102
1.1.3 CONTRACTS & AGREEMENTS 102
1.1.4 EXPANSIONS & INVESTMENTS 103
12 COMPANY PROFILES 105
12.1 SPACE ADVENTURE LIMITED 105
12.1.1 COMPANY OVERVIEW 105
12.1.2 FINANCIAL OVERVIEW 106
12.1.3 PRODUCTS OFFERED 106
12.1.4 KEY DEVELOPMENTS 107
12.1.5 SWOT ANALYSIS 107
12.1.6 KEY STRATEGIES 107
12.2 BLUE ORIGIN 109
12.2.1 COMPANY OVERVIEW 109
12.2.2 FINANCIAL OVERVIEW 110
12.2.3 PRODUCTS OFFERED 110
12.2.4 KEY DEVELOPMENTS 111
12.2.5 SWOT ANALYSIS 111
12.2.6 KEY STRATEGIES 112
12.3 SPACEX 113
12.3.1 COMPANY OVERVIEW 113
12.3.2 FINANCIAL OVERVIEW 114
12.3.3 PRODUCTS OFFERED 114
12.3.4 KEY DEVELOPMENTS 115
12.3.5 SWOT ANALYSIS 115
12.3.6 KEY STRATEGIES 115
12.4 AXIOM SPACE, INC. 117
12.4.1 COMPANY OVERVIEW 117
12.4.2 FINANCIAL OVERVIEW 118
12.4.3 PRODUCTS OFFERED 118
12.4.4 KEY DEVELOPMENTS 119
12.4.5 SWOT ANALYSIS 119
12.4.6 KEY STRATEGIES 120
12.5 VIRGIN GALACTIC 121
12.5.1 COMPANY OVERVIEW 121
12.5.2 FINANCIAL OVERVIEW 122
12.5.3 PRODUCTS OFFERED 122
12.5.4 KEY DEVELOPMENTS 123
12.5.5 SWOT ANALYSIS 123
12.5.6 KEY STRATEGIES 124
12.6 SPACEVIP 125
12.6.1 COMPANY OVERVIEW 125
12.6.2 FINANCIAL OVERVIEW 126
12.6.3 PRODUCTS OFFERED 126
12.6.4 KEY DEVELOPMENTS 127
12.6.5 SWOT ANALYSIS 127
12.6.6 KEY STRATEGIES 127
12.7 BOEING 128
12.7.1 COMPANY OVERVIEW 128
12.7.2 FINANCIAL OVERVIEW 129
12.7.3 PRODUCTS OFFERED 129
12.7.4 KEY DEVELOPMENTS 130
12.7.5 SWOT ANALYSIS 131
12.7.6 KEY STRATEGIES 131
12.8 ZERO 2 INFINITY S.L 132
12.8.1 COMPANY OVERVIEW 132
12.8.2 FINANCIAL OVERVIEW 133
12.8.3 PRODUCTS OFFERED 133
12.8.4 KEY DEVELOPMENTS 134
12.8.5 SWOT ANALYSIS 134
12.8.6 KEY STRATEGIES 134
12.9 ROCKET LAB USA INC. 135
12.9.1 COMPANY OVERVIEW 135
12.9.2 FINANCIAL OVERVIEW 136
12.9.3 PRODUCTS OFFERED 136
12.9.4 KEY DEVELOPMENTS 138
12.9.5 SWOT ANALYSIS 138
12.9.6 KEY STRATEGIES 139
12.10 SKYROOT AEROSPACE PVT. LTD. 140
12.10.1 COMPANY OVERVIEW 140
12.10.2 FINANCIAL OVERVIEW 141
12.10.3 PRODUCTS OFFERED 141
12.10.4 KEY DEVELOPMENTS 142
12.10.5 SWOT ANALYSIS 142
12.10.6 KEY STRATEGIES 142