The Parabolic Flight Tourism by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Parabolic Flight Tourism, The parabolic flight tourism market size has grown exponentially in recent years. It will grow from $25.34 billion in 2023 to $34.21 billion in 2024 at a compound annual growth rate (CAGR) of 35.0%. The growth in the historic period can be attributed to research and development, aerospace industry growth, early adopter enthusiasm, tourist demand for novel experiences, rising disposable income.
The parabolic flight tourism market size is expected to see exponential growth in the next few years. It will grow to $117.83 billion in 2028 at a compound annual growth rate (CAGR) of 36.2%. The growth in the forecast period can be attributed to commercial space industry growth, evolving regulations, space exploration ambitions, sustainability initiatives, market competition and diversification. Major trends in the forecast period include diverse consumer demographics, customized experiences, environmental sustainability, unique destination packages, medical and wellness focus.
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.
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The parabolic flight tourism market covered in this report is segmented –
1) By Type: Suborbital Parabolic Flight, Orbital Parabolic Flight
2) By Application: Scientific Research And Exploration, Leisure, Other Applications
3) By End-Use: Government, Commercial
Top Major Players:
- Zero Gravity Corporation
- Novespace
- MiGFlug GmbH
- Beings Systems
- Space Adventures
North America was the largest region in the parabolic flight tourism market in 2023.
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.
The parabolic flight tourism market report table of contents includes:
1. Executive Summary
2. Parabolic Flight Tourism Market Characteristics
3. Global Parabolic Flight Tourism Market Trends And Strategies
4. Parabolic Flight Tourism Market – Macro Economic Scenario
5. Global Parabolic Flight Tourism Market Size and Growth
…….
26. Parabolic Flight Tourism Market Competitive Benchmarking
27. Global Parabolic Flight Tourism Market Competitive Dashboard
28. Key Mergers and Acquisitions Parabolic Flight Tourism Market
29. Parabolic Flight Tourism Market Future Outlook and Potential Analysis
30. Appendix
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