New York, June 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Parabolic Flight Tourism Global Market Report 2023" - https://www.reportlinker.com/p06464231/?utm_source=GNW
Inc., Virgin Galactic, SpaceX, Blue Origin and Orion Span.
The global parabolic flight tourism market is expected to grow from $18.83 billion in 2022 to $25.42 billion in 2023 at a compound annual growth rate (CAGR) of 34.94%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The parabolic flight tourism market is expected to reach $86.70 billion in 2027 at a CAGR of 35.90%.
The parabolic flight tourism market includes revenues earned by entities by providing services such as reproducing gravity-free conditions and performing short-duration scientific and technological experiments.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Parabolic flight tourism refers to the practice of traveling through flights that can replicate microgravity and are extremely helpful for brief scientific and technological examinations in lower gravity. Parabolic flights are used to corroborate space equipment and coach astronauts before spaceflight, as these flights are the unique way to assess microgravity with humans beyond prolonged astronaut training and flights to the International Space Station.
North America was the largest region in the parabolic flight tourism market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of parabolic flight tourism include suborbital parabolic flights and orbital parabolic flights.Orbital parabolic flights are flights that mandatorily need to maintain a velocity or speed to continue their presence around a planet.
They are used in applications such as scientific research and exploration, leisure, and other applications in end-use industries including government and commercial.
The increasing popularity of space-related tourism activities is expected to propel the growth of the parabolic flight tourism market going forward.Space-related tourism is a business activity connected to the cosmos that includes traveling to space as a tourist, looking at a rocket launch, stargazing, or going to a destination that is space-centric.
The increasing popularity of space-related tourism activities would spike parabolic flight tourism as these are safe mediums for space-related tourism.Also, these parabolic flights are cost-effective for people to experience space tourism and for scientists to perform many scientific investigations.
So, the increasing popularity of space-related tourism activities will propel the market. For instance, in July 2022, according to Space Foundation, a US-based non-profit organization for providing information on space exploration, most of the money made by the space industry was in the commercial sector, which saw a 6.4% increase in earnings. More than $224 billion came from space companies’ sales of goods and services, and nearly $138 billion was spent on building out the infrastructure and providing support for these businesses. Therefore, the Increasing popularity of space-related tourism activities is driving the parabolic flight tourism market.
Technological advancements are a key trend gaining popularity in the parabolic flight tourism market going forward.Major companies operating in the parabolic flight tourism market are focused on developing new technological solutions to strengthen their position.
For instance, in June 2022, Zero-G, an American company which operates weightless flights, announced plans to introduce a new business line involving offering in-flight studio recording for musicians. For this, Zero-G need to alter the flight suitably, company plans to cover the plane in a new material that stimulates a superior sound and heat protection.
In September 2022, 0-G Launch, a US-based provider of microgravity parabolic flights partnered with SpaceLand Africa Ltd, a Mauritius-based governmental weightless R&D agency. Through their collaboration, the companies hoped to launch the first-ever, high-quality zero-gravity parabolic flights from Switzerland, Italy, and Mauritius to serve the STEM user groups and tourists on their respective continents.
The countries covered in the parabolic flight tourism market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The parabolic flight tourism market research report is one of a series of new reports that provides parabolic flight tourism optical components market statistics, including parabolic flight tourism optical components industry global market size, regional shares, competitors with a parabolic flight tourism optical components market share, detailed parabolic flight tourism optical components market segments, market trends and opportunities, and any further data you may need to thrive in the parabolic flight tourism optical components industry. This parabolic flight tourism optical components market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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