Global Space Tourism Market Size to Hit USD 3622.5 Mn, with a CAGR of 36.4% | The Rapid Advancement of Technology to Drive the Market | Vantage Market Research

Pune, INDIA


WASHINGTON, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Space Tourism Market finds that the increasing R&D (Research & Development)activities by the government and private research centers, the growing number of adventure travelers worldwide, and the technological advancements in the Space Tourism Market are anticipated to augment the growth of the Global Space Tourism Market during the forecast period. The Global Market revenue was valued at USD 562.5 Million in 2021.

The Global Space Tourism Market size is forecast to reach USD 3622.5 Million by 2028 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 36.4% during the forecast period; states Vantage Market Research, in a report, titled “Space Tourism Market Size, Share & Trends Analysis Report by Space Tourism Types (Orbital, Sub-Orbital, Other Space Tourism Types), by End Users (Government, Commercial, Other End Users), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.

Get Sample Copy of This Report: https://www.vantagemarketresearch.com/space-tourism-market-1834/request-sample

Key Industry Findings & Insights from the report:  

  • The global Space Tourism Market was valued USD 562.5 Million in 2021 and is all set to surpass USD 3622.5 Million by 2028, exhibiting a CAGR of 36.4% during the forecast period 2022-2028.           
  • In terms of revenue, the application segment held the largest revenue share of in 2021 and is estimated to maintain its dominance for the forecast period.
  • In terms of revenue, the product segment held the second largest market share of in 2021 and is estimated to grow rapidly during the forecast period.
  • The growth can be attributed to rapid urbanization, technological advancement, an increase in investment by developing countries.
  • North America captured the lion share in 2021 and is projected to retain its position over the forecast period. This can be attributed to the existence of a significant number of Space Tourism industry companies and the high adoption rate owing to government measures that stimulate this industry in this region. The growth is primarily due to the increasing collaborations.

List of Prominent Players in Space Tourism Market:

  • Airbus Group SE
  • Axiom Space
  • Blue Origin
  • Boeing
  • Orion Span
  • Space Adventures
  • SpaceX
  • Virgin Galactic
  • Zero2Infinity
  • ZERO-G

Market Dynamics:

Driver:

Increase in Technological Advancements in the Space Tourism Market to Drive the Market Growth

Space Tourism Market lets travelers travel in and across the Earth’s orbit for leisure, recreation, or significant business purposes. In addition, it will probably make travel accessible to the lay and the non-astronaut populace during the forecast period. Furthermore, the technological innovations and the users’ preference for space adventures are intensifying at a remarkable growth pace in the future. Therefore, the growth in the Global Space Tourism Market can be attributable to the surge in technological advancements. Moreover, the High Net Worth of Income individuals toward spaceflight and the growth in the inclination of adventure travelers are propelling the growth of the Space Tourism Market. Besides, the augmented focus on research and development activities by government and private research organizations are other vital aspects expected to drive market expansion.

The market is strengthening, with vital players dominating and capturing a significant market share. These market players are also planning on R&D to build orbital and suborbital vehicles to travel to space during the forecast period. Also, these players have been investing a considerable number, which will observe rapid growth in the future.

Purchase This Premium Report (Price 4500 USD for a single-user license) at @ https://www.vantagemarketresearch.com/buy-now/space-tourism-market-1834/0

COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various industries worldwide, and the Global Space Tourism Market is no exception. Governments across the world implemented several measures like strict lockdown to ensure social distancing norms to restrict the swift spread of the pandemic. The Space Tourism Market suffered as the manufacturing units worldwide were forced to shut down during the initial stages of the pandemic. Small and medium-scale companies, which are the backbone technology providers to the Space Tourism Market industry were directly affected due to the epidemic. Furthermore, the rollout for the Space Tourism Market industry too is taken into consideration as the aftereffects of the pandemic are gradually coming down since the beginning of 2022.

The situation is seen to improve in the second half of 2022 as more supplies resume normal. Vantage Market Research, while performing the analysis study for the Global Space Tourism Market has considered the impact of COVID-19 on the Space Tourism Market globally and the subsidiaries for the Space Tourism Market industry. In addition, the demand and supply chain is considered while estimating the current and forecast market size for the Global Space Tourism Market industry for all the regions and countries based on the following data points:

1. Impact Assessment of COVID-19 Pandemic

a. North America

b. Europe

c. Asia Pacific

d. Latin America

e. Middle East & Africa

2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021

3. Key Strategies Undertaken by Companies to Tackle COVID-19

4. Long-Term Dynamics

5. Short-Term Dynamics

The report on Space Tourism Market highlights:

  • Assessment of the market
  • Premium Insights
  • Competitive Landscape
  • COVID Impact Analysis
  • Historic Data, Estimates, and Forecast
  • Company Profiles

Schedule a FREE Consultation Call with Our Analysts to Find Solutions for Your Business at @ https://www.vantagemarketresearch.com/space-tourism-market-1834/contact-analyst

Regional Analysis:

North America Dominated the Global Space Tourism Market

North America is leading the Global Space Tourism Market and is expected to continue the same during the forecast period. The region’s development is due to the well-established infrastructure, which has allowed the rapid adoption of current technologies and the presence of most billionaires. Moreover, the U.S. Space Tourism Market contributes a major market share in this region. Also, the region is equipped with a highly developed infrastructure with a wide-ranging research and development base, which will propel the market growth during the forecast period.

Recent Developments:

May 2020: US-based SpaceX sent two people into orbit, reusing the Falcon 9 rocket that had delivered the crew into orbit. This is an amazing technological breakthrough for the company, as rocket reuse results in significant cost savings for space exploration.

Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on "Space Tourism Market Size, Share & Trends Analysis Report by Space Tourism Types (Orbital, Sub-Orbital, Other Space Tourism Types), by End Users (Government, Commercial, Other End Users), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".

Key Questions Answered in The Report:

  • Which region will show the fastest and highest growth in the near future?
  • Which are the top five players and their weakness and strength of the Market?
  • What will be the future innovation in the upcoming six years?
  • Which application and product will lead the largest share of the Market?
  • What are the growth drivers, restraints and challenges of the industry?
  • What will be the CAGR and size of the Space Tourism Market for the base year and forecast period?                  

This market titled “Space Tourism Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

ParameterDetails
Market Size Provided for Years2016-2028
Base Year2021
Historic Years2016-2020
Forecast Years2022-2028
Segments Covered
  • Space Tourism Types
    • Orbital
    • Sub-Orbital
    • Other Space Tourism Types
  • End Users
    • Government
    • Commercial
    • Other End Users
  • Region
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa
Region & Counties Covered
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • U.K
    • France
    • Germany
    • Italy
    • Spain
    • Rest Of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South East Asia
    • Rest Of Asia Pacific
  • Latin America
    • Brazil
    • Argentina
    • Rest Of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest Of Middle East & Africa
Companies Covered
  • Airbus Group SE
  • Axiom Space
  • Blue Origin
  • Boeing
  • Orion Span
  • Space Adventures
  • SpaceX
  • Virgin Galactic
  • Zero2Infinity
  • ZERO-G
Report CoverageMarket growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Customization of the Report:

The report can be customized as per client needs or requirements. For any queries, you can contact us on sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.

Browse More Related Report:

  • Electric Vehicle Market Size, Share & Trends Analysis Report by Vehicle Type (Passenger Vehicles, Heavy Commercial Vehicles, Two-Wheelers, E-Scooters & Bikes), by Propulsion Type (Hybrid Vehicles, Battery Electric Vehicles, Fuel Cell Electric Vehicles), by Power Output (Less than 100 kW, 100 kW to 250 kW, More than 250 kW), by End Use (Private Use, Commercial Use, Industrial Use), by Charging Standard (Guobiao standards (GB/T), CHArge de MOve (CHAdeMO), Combined Charging System (CCS), Tesla Supercharger), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028).
  • Car Rental Market Size, Share & Trends Analysis Report by Application (Leisure, Commercial), by Rental Category (On Airport, Off Airport), by Car Type (Luxury Cars, Executive Cars, Economical Cars, Sports Utility Vehicles (SUVs), Multi Utility Vehicles (MUVs)), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028).
  • Third Party Logistics Market Size, Share & Trends Analysis Report by Service (Dedicated Contract Carriage (DCC)/Freight Forwarding, Domestic Transportation Management (DTM), International Transportation Management (ITM), Warehousing & Distribution (W&D), Value Added Logistics Services (VALS), by Transport (Roadways, Railways, Waterways, Airways), by End-Use (Manufacturing, Retail, Healthcare, Automotive), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028).
  • Curved Glass Panel Market Size, Share & Trends Analysis Report by Product Type (Single-Glazed, Double-Glazed, Other Product Types), by Applications (Architectural, Traffic, Industry, Other Applications), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028).

About Vantage Market Research:

We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies. The company provides high quality data and market research reports. The company serves various enterprises and clients in a wide variety of industries. The company offers detailed reports on multiple industries including Chemical Materials and Energy, Food and Beverages, Healthcare Technology, etc. The company’s experienced team of Analysts, Researchers, and Consultants use proprietary data sources and numerous statistical tools and techniques to gather and analyse information.

Follow Us on LinkedIn: https://www.linkedin.com/company/vantage-market-research/

Follow Us on Twitter: https://twitter.com/vantagemarketr

Follow Us on Facebook: https://www.facebook.com/vantagemarketresearch

Contact us

Eric Kunz

6218 Georgia Avenue NW Ste 1 - 564

Washington DC 20011-5125

United States Tel: +1 202 380 9727

Email: sales@vantagemarketresearch.com

Website: https://www.vantagemarketresearch.com/

Latest Vantage Market Research Press Releases @https://www.vantagemarketresearch.com/insight/press-releases

Latest Vantage Market Research Blog @ https://www.vantagemarketresearch.com/insight/blogs

Blog: