How large is the space tourism market, and what is its growth trajectory?
The space tourism market size has grown exponentially in recent years. It will grow from $0.80 billion in 2024 to $1.03 billion in 2025 at a compound annual growth rate (CAGR) of 28.8%. The growth in the historic period can be attributed to increased private sector investment, growing public interest in space travel, government support for space exploration, global media coverage and publicity, and rising disposable income.
The space tourism market size is expected to see exponential growth in the next few years. It will grow to $2.79 billion in 2029 at a compound annual growth rate (CAGR) of 28.4%. The growth in the forecast period can be attributed to increased availability of commercial orbital and suborbital flights, growing market competition, expansion of space experiences beyond travel, increased interest in sustainable space travel, and growing affordability for non-ultra-wealthy individuals. Major trends in the forecast period include high-altitude balloon systems, advanced spacecraft propulsion technologies, enhanced space safety systems, autonomous and AI-based navigation systems, and virtual and augmented reality (VR/AR) training.
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What are the key forces behind the space tourism market’s growth in recent years?
The increasing enthusiasm for adventure travel is expected to propel the growth of the space tourism market going forward. Adventure travel refers to exploring unique, thrilling, and often challenging destinations or activities that involve outdoor exploration or extreme sports. Adventure travel is increasing due to a growing demand for immersive, nature-centric experiences, heightened interest in wellness and sustainability, and the influence of social media showcasing unique outdoor activities. Space tourism expands the horizons of adventure travel by offering unparalleled experiences beyond Earth’s boundaries, inspiring innovation, and redefining the limits of exploration. For instance, in August 2024, according to Flight Centre Canada, a Canada-based travel agency, approximately 45% of younger Canadians intend to take at least one vacation this year, with an additional 11% planning to travel three times or more. In comparison, countries with more generous vacation entitlements, such as Australia (18%), New Zealand (18%), the UK (24%), and South Africa (28%), show a higher proportion of individuals planning multiple vacations annually. Moreover. In 2023, according to the Adventure Travel Trade Association, a US-based association, respondents served 4,243 travelers on average, a staggering 213% increase over 2021’s 1,355 travelers. Therefore, the increasing enthusiasm for adventure travel is driving the growth of the space tourism market.
What are the major segments of the space tourism market?
The space tourism market covered in this report is segmented –
1) By Type: Sub-Orbital Space Tourism, Orbital Space Tourism, Lunar Tourism, Inter-Planetary Tourism, Space Hotel Tourism
2) By Sales Channel: Launch Provider, Third Party Partnership, Online Travel Agency (OTAs)
3) By Tour Type: Individual Travel, Professional Groups
4) By Application: Commercial, Government
Subsegments:
1) By Sub-Orbital Space Tourism: Parabolic Flights, Edge of Space Flights, Microgravity Experience
2) By Orbital Space Tourism: Short-Duration Orbital Flights, Long-Duration Space Station Stays, Private Astronaut Missions
3) By Lunar Tourism: Lunar Flyby Tours, Lunar Surface Exploration, Lunar Habitat Stays
4) By Inter-Planetary Tourism: Mars Exploration Missions, Spacecraft Cruises to Asteroids, Deep Space Voyages
5) By Space Hotel Tourism: Space Station Hotels, Luxury Orbital Accommodations, Zero-Gravity Recreational Facilities
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Which companies dominate the space tourism market?
Major companies operating in the space tourism market are Space Exploration Technologies Corp., Blue Origin Enterprises L.P., Sierra Space Corporation, Rocket Lab USA Inc., Axiom Space Inc., Interstellar Technologies Inc., The Exploration Company, Space Perspective Inc., Astra Space Inc., Galactic Suite Limited, Elysium Space Inc., Space Adventures Inc., Virgin Galactic Holdings Inc., Zero 2 Infinity SL, Astrolab, Argo Space Corp., Orion Span Inc., HALO Space, IntStelForce Ltd., Orbit Boy Technology
How will industry trends affect the trajectory of the space tourism market?
Major companies operating in the space tourism market are developing innovative technologies, such as commercial spaceflight, to broaden access to space, enhance customer experiences, and drive the growth of the emerging space travel industry. Commercial spaceflight refers to space travel services offered by private companies for paying customers, including tourists, researchers, and cargo transportation. For instance, in June 2023, Virgin Galactic Holdings Inc., a US-based space tourism company, launched its 1st commercial spaceflight. The company achieved a significant milestone by conducting its first commercial spaceflight, known as Galactic 01. This mission carried three Italian Air Force pilots and a representative from the National Research Council of Italy, who conducted microgravity research during the flight. The Galactic 01 mission utilized Virgin Galactic’s SpaceShipTwo, VSS Unity, a suborbital spaceplane designed to carry passengers to the edge of space. The flight reached an altitude of over 50 miles (80 km) above the New Mexico desert, providing the crew with a brief experience of weightlessness and a view of Earth’s curvature.
What are the key regional dynamics of the space tourism market, and which region leads in market share?
North America was the largest region in the space tourism market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the space tourism market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Space Tourism Market Report 2025 Offer?
The space tourism market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Space tourism refers to the commercial activity of sending private individuals into space for recreational, leisure, or adventure purposes. Its purpose is to provide non-professional astronauts with the opportunity to experience space travel, including weightlessness and a view of Earth from orbit.
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