Outlook on the Sub-Orbital Transportation and Space Tourism Global Market to 2031 - Featuring Blue Origin, SpaceX and Virgin Galactic Among Others
DUBLIN, July 14, 2021 /PRNewswire/ -- The "Sub-Orbital Transportation and Space Tourism Market - A Global and Regional Analysis: Focus on End User, Application, Flight Vehicle Type, System, and Country - Analysis and Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global sub-orbital transportation and space tourism market is estimated to reach $2.58 billion in 2031, at a compound annual growth rate (CAGR) of 17.15% during the forecast period 2021-2031. The major driving factor for the market's robustness will be focused efforts to enable space transportation, emerging start-ups in sub-orbital transportation, and increasing developments in low-cost launching sites.
Space transportation has garnered significant interest from several space industry players in the past few years. In the past, most space transportation has been focused on cargo supply missions to the International Space Station (ISS) and launch services, but currently, this focus has shifted to in-space transportation, planetary explorations, crewed missions, sub-orbital transportation, and space tourism. Several companies, including SpaceX, Blue Origin, and Virgin Galactic, have been focusing on developing platforms such as rocket-powered sub-orbital vehicles that will enable the industry to carry out sub-orbital transportation and space tourism.
Market Segmentation
- End User: Commercial, Military, Government
- Application: Cargo Delivery, Earth Observation/Remote Sensing, Space Tourism, Satellite Deployment, and Others
- Flight Vehicle Type: Sub-Orbital Reusable Vehicles, High-Altitude Balloons, and Parabolic Aircraft
- System: Sub-orbital Reusable Vehicles and High-altitude Balloons
Regional Segmentation
- North America: U.S. and Canada
- Europe: U.K., France, Germany, and Rest-of-Europe
- Asia-Pacific: China, Japan, Singapore, and Rest-of-Asia-Pacific
- Rest-of-the-World
Market Growth Drivers
- Focused Efforts to Enable Space Transportation
- Emerging Start-Ups in Sub-Orbital Transportation
Market Challenges
- Delay in Space Tourism Flights
Market Opportunities
- Increasing Developments in Spaceports
Key Companies Profiled
Blue Origin, Equatorial Space Systems Pte Ltd., EXOS Aerospace Systems & Technologies, Inc., Near Space Corp., Orbspace, PD AeroSpace, LTD, Raven Aerostar, SpaceX, Swedish Space Corporation, Space Perspective, UP Aerospace Inc., Virgin Galactic, World View Enterprises, Zero Gravity Corporation, Zero 2 Infinity S.L
Key Questions Answered in the Report
- What are the underlying structures resulting in the emerging trends within the sub-orbital transportation and space tourism market?
- What are the potential opportunities in the market for new OEMs and other players to enter?
- What are the driving factors attributing to the growth of the sub-orbital transportation and space tourism market, and what are the challenging factors?
- Which application and end user are expected to lead the sub-orbital transportation and space tourism market by 2031?
- What was the market value of the regions in the sub-orbital transportation and space tourism market in 2020, and how is the market estimated to grow during the forecast period 2021-2031?
- What is the investment scenario in the sub-orbital transportation and space tourism market?
- How is the industry expected to evolve during the forecast period 2021-2031?
- What are the key developmental strategies that are implemented by the key players to sustain the competitive market?
Sub-Orbital Transportation and Space Tourism Market
Currently, the space industry is focusing on developing technologies, platforms as well as spaceports that will enable space transportation. Sub-orbital flights, including space tourism, have gathered significant interest from the space sector as well as individuals who want to travel to space. Several companies such as Virgin Galactic, Blue Origin, Space Adventures, PD AeroSpace, LTD, Space Perspective, and Zero Gravity Corporation are focusing on developing platforms that will enable space tourism. The current challenge is to make space trips cheaper and thus more accessible to the public.
One of the major technologies that the industry is focusing on is the reusability of space systems such as suborbital or orbital reusable vehicles. The reusable systems allow the companies to reduce costs as well as operate the system for several missions. The developments of the players in the market showcase that this market has the potential to have immense growth in the upcoming years.
Market Segmentation
Sub-Orbital Transportation and Space Tourism Market by Vehicle Types
The sub-orbital transportation and space tourism market has been segmented based on various flight vehicle types, including sub-orbital reusable vehicle, high-altitude balloon, and parabolic aircraft. The sub-orbital reusable vehicles segment is expected to lead the sub-orbital transportation and space tourism market. The growth of this segment is attributed to the growing number of emerging companies involved in developing such reusable vehicles that will carry out sub-orbital transportation.
Sub-Orbital Transportation and Space Tourism Market by End User
The sub-orbital transportation and space tourism market has been segmented based on end users, including commercial, military, and government. The government end-user segment is anticipated to dominate the sub-orbital transportation and space tourism market. The factors contributing to this growth are the increasing number of partnerships and contracts that government agencies are forming with commercial players for several sub-orbital transportation applications.
Sub-Orbital Transportation and Space Tourism Market by Region
The sub-orbital transportation and space tourism market has been segmented based on region, including North America, Europe, Asia-Pacific, and Rest-of-the-World. North America is expected to dominate the global sub-orbital transportation and space tourism market during the forecast period. The number of growing successful demonstrations and test flights carried out by key players in this market has created an opportunity not only for them but also for other players who want to enter the market. Apart from this, these successful demonstrations have proven the viability of these systems and may push these companies to commercialize their product offerings. Additionally, several spaceports, such as the West Texas Launch Site and Spaceport America launch site, which support sub-orbital spaceflights, are also expected to boost the sub-orbital transportation and space tourism operations, which in turn will drive the market growth.
Key Topics Covered:
1 Markets
1.1 Industry Outlook
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Focused Efforts to Enable Space Transportation
1.2.1.2 Emerging Start-Ups in Sub-Orbital Transportation
1.2.2 Business Challenges
1.2.2.1 Delay in Space Tourism Flights
1.2.3 Business Strategies
1.2.3.1 New Product Launch
1.2.3.2 Market Developments
1.2.4 Corporate Strategies
1.2.4.1 Contracts, Agreements, Partnerships, Collaborations, and Mergers
1.2.4.2 Other Developments
1.2.5 Business Opportunities
1.2.5.1 Increasing Developments in Spaceports
2 Application
2.1 Demand Analysis of Sub-Orbital Transportation and Space Tourism (by End User)
2.1.1 Commercial
2.1.2 Military
2.1.3 Government
2.2 Demand Analysis of Sub-Orbital Transportation and Space Tourism (by Application)
2.2.1 Cargo Delivery
2.2.2 Earth Observation/Remote Sensing
2.2.3 Space Tourism
2.2.4 Satellite Deployment
2.2.5 Other Applications
3 Products
3.1 Demand Analysis of Sub-Orbital Transportation and Space Tourism Market (by Flight Vehicle Type)
3.1.1 Sub-Orbital Reusable Vehicles (SRVs)
3.1.2 High-Altitude Balloons
3.1.3 Parabolic Aircraft
3.2 Demand Analysis of Sub-Orbital Transportation and Space Tourism Market (by System)
3.2.1 Sub-Orbital Reusable Vehicles (by System)
3.2.1.1 Propulsion System
3.2.1.2 Avionics
3.2.1.2.1 Guidance and Navigation System
3.2.1.2.2 Command and Data Handling System
3.2.1.2.3 Telemetry System
3.2.1.3 Power System
3.2.2 High-Altitude Balloons (HAB) (by System)
3.2.2.1 Communication and Navigation System
3.2.2.2 On-Board Data Handling System
3.2.2.3 Thermal System
3.2.2.4 Payloads
4 Regions
5 Competitive Benchmarking & Company Profiles
6 Research Methodology
For more information about this report visit https://www.researchandmarkets.com/r/7nt153
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