One of the latest trends that will gain traction in the space tourism market in the coming years is the decrease in the cost of space tourism.
Space tourism is space travel for recreational, leisure or business purposes. To date only orbital space tourism has taken place provided by the Russian Space Agency, although work continues developing sub-orbital space tourism vehicles by Blue Origin and Virgin Galactic.
In addition, SpaceX announced in 2017 that they are planning on sending two space tourists on a lunar free return trajectory in 2018 aboard their Dragon V2 spacecraft launched by the Falcon Heavy rocket.
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The cost of getting into space will decline rapidly if the next generation of space planes can reach the orbit. This will considerably reduce the cost of launching satellites or space exploration missions, making it an economically feasible option for a larger customer segment.
Additionally, the reduced cost can also enable vendors to launch multiple nanosatellites in the solar system.
The industry is expected to remain innovation-led, with frequent acquisitions and strategic alliances adopted as the key strategies by the players to increase their industry presence. Market stays in mature period with a clear concentration.
Meanwhile, optimize product mix and further develop value-added capabilities to maximize margins. Manufacturers can take advantage of this situation by reinforcing their production units and supply-chains to avoid any delay in production turn-around-times (TAT) and supply-lead-times.
Over the next five years, LPI(LP Information) projects that Space Tourism will register a 17.3% CAGR in terms of revenue, reach US$ 1270 million by 2023, from US$ 490 million in 2017.
This report presents a comprehensive overview, market shares and growth opportunities of Space Tourism market by product type, application, key companies and key regions.
Segmentation by product type:
Segmentation by application:
Report At: www.bigmarketresearch.com/2658419
We can also provide the customized separate regional or country-level reports, for the following regions:
Middle East & Africa
The report also presents the market competition landscape and a corresponding detailed analysis of the major players in the market. The key players covered in this report:
Space Island Group
Zero 2 Infinity
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