SPACE TOURISM

A STATISTA DOSSIERPLUS ON SPACE TOURISM

Table of contents

01 What is space tourism? 03 Market and outlook

▪ Types of space tourism ▪ The price of space tourism
▪ Evolution of space tourism ▪ Current market figures
▪ Safety and regulations ▪ Market outlook

02 Space tourism companies

▪ The new space race
▪ Key players
▪ Public perception

2
From national to commercial: The evolution of space tourism
Executive summary

Human space exploration first began during the Cold War between the The commercialization of space tourism means that, in theory, anyone
United States and the Soviet Union in the mid-20th century. This can travel to space. Although, in reality, this is not quite the case yet.
competition between nations to achieve superior spaceflight capability The market is still young and in a developmental stage. Current costs for
became known as the space race. space tourists are extortionately high. Therefore, present-day
consumers are predominantly high-net-worth individuals.
In the following years, space research and the exploration of space was
dominated by government organizations. The two biggest players – and The hope for the market is that this will change in the future, making
fierce competitors – were NASA and Roscosmos, the federal space space travel as simple and affordable as air travel is today. However,
agencies of the United States and Russia, respectively. estimates for when this will be the case vary, with some saying it will
take decades, while others say it could happen in just ten years.
These days, the space travel landscape looks a little different. While
government organizations remain an integral part of the process, In 2021, investment bank UBS raised its growth forecast for the space
commercial space tourism companies founded in the early 2000s have tourism industry, saying the market will be worth four billion U.S. dollars
reignited the idea of space exploration and recaptured the public’s by 2030 – up from an initial expectation of three billion U.S. dollars in its
imagination. These companies are taking risks and creating new 2019 report. This readjustment underlines the rising confidence in the
opportunities that push the boundaries of what is possible. Here are industry.
three of the most well-known companies:
However, as it stands, the space tourism market is largely aspirational.
▪ Elon Musk’s SpaceX The fascination with space exploration has attracted investment and
public interest, but whether this market will blast off remains to be
▪ Richard Branson’s Virgin Galactic
seen.
▪ Jeff Bezos’ Blue Origin

3
 “ To confine our attention to terrestrial matters
would be to limit the human spirit.

―
„
Stephen Hawking
(Theoretical physicist, cosmologist, and author)

4
01 What is space tourism?
▪ Types of space tourism
▪ Evolution of space tourism
▪ Safety and regulations
What exactly is space tourism?

Space tourism is still in its early days. While the first recorded civilian When thinking about commercial spaceflight, the destination may seem
spaceflight was back in the 1980s, civilian trips to the cosmos have been obvious: space. However, there are actually a few different types of
few and far between and are far outnumbered by missions involving space trips that travelers can take. This chapter covers the basics of
professional astronauts. As it stands, space tourism as a product still space tourism, exploring all forms of spaceflight, key events in the
needs refining. history of space tourism, the safety of the developing industry, and the
level of interest among consumers.
The simple definition of space tourism is human spaceflight for
recreational purposes. This process is currently extremely expensive
and time-consuming. As a result, travelers are required to pay
exorbitant prices to take a trip to space. Here are some of the estimated
costs travelers will pay per seat to travel to space (more details can be
found on page 23):

▪ SpaceX: 50 million U.S. dollars

▪ Virgin Galactic: 450,000 U.S. dollars

6
The different types of space tourism

SPACE

ATMOSPHERE

Orbital space tourism Suborbital space tourism Lunar space tourism Mars space tourism Space hotels could
consists of a spaceflight in consists of a spaceflight in consists of trips to the consists of trips to be found floating in
which a spacecraft is placed which a spacecraft reaches moon. This could include Mars. This type of space or on the
on a trajectory where it outer space, but its flyby in a circumlunar tourism is not surface of a moon
could remain in space for at trajectory intersects the trajectory, lunar orbit, or possible yet but is an or planet. This is not
least one orbit. atmosphere or surface of lunar landing. This type of aim for the future. possible yet, but
the gravitating body from tourism remains largely plans are underway.
which it was launched so aspirational.
that it will not complete one
orbital revolution or reach
escape velocity.

7
Space tourism: Important events so far

The operation between Space In the decade that followed, not

NASA established the Space Flight Tragically, the Challenger exploded Adventures and Roscosmos was much happened in the way of space
Participant Program in the 1980s, shortly after takeoff on January 28, 1986, halted in 2010 due to an increase in tourism. However, in 2021, after
providing regular opportunities killing McAuliffe and the other astronauts the ISS’s crew size, meaning there was years of development – and even
for private citizens to fly on space on board. After this incident, NASA no longer enough space for tourists some serious accidents – private
shuttle missions. decided to put the Teacher in Space aboard Russian Soyuz spacecrafts. companies SpaceX, Virgin Galactic,
Project on hold and no longer wanted to This left a vacuum in the space and Blue Origin all launched their
include civilians on missions. tourism market. first tourist flights to space (more
on this can be found on page 19).

1980s 1984 1986 2000s 2001 2010 2021

The first flight opportunity provided under The first official space tourist was American
this new initiative was NASA’s Teacher in multimillionaire Dennis Tito. In collaboration
Space Project, announced in 1984. Teacher with space tourism company Space Adventures,
Christa McAuliffe was selected as NASA’s first Tito joined the Roscosmos Soyuz TM-32
spaceflight participant, traveling aboard the The partnership between Space Adventures mission, which launched and docked with the
space shuttle Challenger. and Roscosmos took seven tourists on eight ISS on April 28, 2001. Tito spent seven days, 22
trips to the International Space Station (ISS) hours, and four minutes in space and orbited
between 2001 and 2009. This collaboration the Earth 128 times. He paid an estimated 20
highlights the evolution of space tourism million U.S. dollars for this trip.
during the 2000s. The Russian federal space
agency Roscosmos provided the crew and
the spacecraft, while the American space
tourism company Space Adventures
coordinated the trips.

8
How much do the public really care about going to space?

Would you travel to space if money were Would you travel to the moon if money Americans are cautious about space travel
not an issue? were not an issue?
While there are definitely those who have the
desire to travel to space, does this reflect the
majority of the public?

When looking at two different surveys,

Americans erred on the side of caution when
it came to space travel. When asked if they
would travel to outer space if money were
No not a problem, just over half said they would
not. This was even more the case when it
Yes No 61%
came to lunar travel, where 61 percent of
49% 51%
Yes respondents said they would not travel to the
37% moon, even if money were not an issue.
Some of this reticence likely comes from the
potential risks attached to space travel (read
more about this topic on page 11).
2%

No answer

1) Note(s): United States; September 14 to 21, 2021; 2,050 respondents; 18 years and older 2) Note(s): United States; December 14 to 20, 2021; 2,602 respondents; 18 years and older
9 Source(s): Qualtrics; ValuePenguin; ID 1293150 Source(s): Axios; Momentive; SurveyMonkey; ID 1295080
Women are less interested in space travel than men

If money were not an issue, would you want to go to the moon If money were not an issue, would you ever want to
as a tourist? travel to space?

Yes No

29%

45% 44% 44%

54% 56% 56%

68%

1) Note(s): United States; December 14 to 20, 2021; 2,602 respondents; 18 years and older 2) Note(s): United States; September 14 to 21, 2021; 2,050 respondents; 18 years and older
10 Source(s): Axios; Momentive; SurveyMonkey; ID 1295105 Source(s): Qualtrics; ValuePenguin; ID 1293155
Space: The most dangerous holiday destination?

Space tourism is a developing industry that depends on new As a result of these risks, space tourists will not only have to be able to
technologies, which means it is still navigating health and safety fund their trips but also be extensively medically evaluated and trained
protocols. In comparison to commercial aviation flights, commercial before participating. In addition, spaceflights can also be dangerous
spaceflights have the potential to be far more dangerous. A 2021 NASA due to unforeseen technical issues.
study highlighted the main negative effects on the human body that
can be caused by spaceflight, as shown in the table below.

Issues Risks

Radiation Degenerative diseases, radiation sickness, cancer, changes in the central nervous system

Isolation Behavioral changes, sleep problems, fatigue, a decline in mood

Distance from Earth Ineffective medications, food storage challenges, lack of medical care, equipment failure

Gravity Reduced muscle mass, bone loss, fluid shifts, changes in sensorimotor skills

Environment Altered immune system, celestial dust exposure, temperature changes, exposure to contaminants

Note(s): As of February 23, 2022

11 Source(s): NASA
Fatalities resulting from spaceflights
Above the Kármán line
Fatalities Nationality Incident Mission Date
Georgy Dobrovolsky
Viktor Patsayev Soviet Union Decompression in space Soyuz 11 June 30, 1971
Vladislav Volkov

Below the Kármán line

Fatalities Nationality Incident Mission Date
Vladimir Komarov Soviet Union Parachute failure Soyuz 1 April 24, 1967
Michael J. Adams United States Control failure X-15 Flight 3-65-97 November 15, 1967

Gregory Jarvis
Christa McAuliffe
Ronald McNair
Launch booster failure, vehicle disintegration during launch –
Ellison Onizuka United States STS-51-L January 28, 1986
space shuttle Challenger disaster
Judith Resnik
Michael J. Smith
Dick Scobee

Rick D. Husband
William C. McCool
Michael P. Anderson
David M. Brown United States Vehicle disintegration on re-entry – space
STS-107 February 1, 2003
Kalpana Chawla shuttle Columbia disaster
Laurel Clark

Ilan Ramon Israel

Note(s): As of March 2022; the Kármán line is an attempt to define a boundary between Earth’s atmosphere and outer space; the Kármán line was defined by the Fédération Aéronautique
12 Internationale (FAI); the FAI defines the Kármán line as space beginning 100 kilometers (54 nautical miles; 62 miles; 330,000 feet) above Earth’s mean sea level
Space tourism’s lack of regulations: Innovative or dangerous?
A closer look at the regulations in place for space tourism

When speaking of the dangers of space tourism, it is also important to The FAA continues:
look at the regulations and legislations that govern this industry. This
▪ “Federal law requires an informed consent framework, so flight crew
page focuses on the regulations in the United States as that is where
and spaceflight participants are fully aware of the risks and hazards
the three leading commercial space tourism companies – SpaceX, Virgin
involved in human spaceflight launch and reentry operations.”
Galactic, and Blue Origin – are based (more information on these
companies will come in the next chapter). The FAA also states the limitations of its regulatory oversight:
Currently, the Federal Aviation Administration (FAA) is responsible for ▪ “Congress has limited the FAA’s authority in specific ways. Under
the regulatory oversight of the commercial human spaceflight industry. federal law, the FAA is prohibited from regulating the safety of
The FAA describes its role as follows: individuals on board. This legislative ‘moratorium,’ originally
established in 2004, and extended three times by Congress, expires
▪ “The FAA’s safety oversight responsibilities are designed to protect
in October 2023.”
the safety of the public on the ground and others using the National
Airspace System. Congress has both given and restricted the FAA’s Representatives from the space tourism industry lobbied hard against
authority. The FAA issues commercial space licenses, verifies launch early regulations, arguing they would stifle innovation. This led Congress
or reentry vehicles meant to carry humans operate as intended and to impose a moratorium on the FAA regulating the commercial human
provides regulation of flight crew qualifications and training. The FAA spaceflight industry until October 1, 2023.
also performs safety inspections and safely integrates commercial
space operations into the National Airspace System.”

Note(s): As of February 16, 2022

13 Source(s): Federal Aviation Administration (FAA)
02 Space tourism companies
▪ The new space race
▪ Key players
▪ Public perception
The new space race
A billionaire’s playground?

In recent times, space tourism has been dominated by billionaires. The However, these private companies have faced criticism as some think
most well-known are Elon Musk (SpaceX), Jeff Bezos (Blue Origin), and that they are founded by billionaires for billionaires. Elon Musk
Richard Branson (Virgin Galactic), all of whom founded space companies defended his SpaceX company, saying it is necessary for “establishing
with the intention of commercializing and furthering space exploration. security for life itself and having an exciting future and inspiring kids
This includes projects such as space tourism, mining for resources in about the future.”
outer space, and even the colonization of Mars.
Musk also acknowledged another concern of the public, that money
Nowadays, civilian space travel is a more collaborative process. While should go toward problems on Earth, not in space. “I completely agree
these new commercial companies may seem at the forefront of space that the vast majority of resources should be dedicated to solving
tourism and have renewed the public’s interest in space travel, problems on Earth,” he said, but “maybe half a percent” should be
government organizations are still an important piece of the puzzle. dedicated to space.

NASA’s Commercial Crew Program, announced in 2019, aimed to offer As it stands, many remain uncertain as to whether commercial space
“safe, reliable, and cost-effective human transportation to and from the travel is an admirable pursuit or just “rich boys and their toys,” as put to
International Space Station from the United States through a [Link] by Eric Berger, author and senior space editor at technology
partnership with American private industry.” publication Ars Technica.

Currently, NASA is partnered with SpaceX’s Crew Dragon spacecraft and

Boeing’s Starliner spacecraft. Meanwhile, Roscosmos and Space
Adventures have partnered once again to send tourists to space.

Source(s): CNBC; NASA; [Link]

15
Space tourism: A holiday created by billionaires for billionaires?

Should space travel be accessible to Should billionaires spend money on Space tourism is still too inaccessible
everyone, not just those who can afford it? space travel?
Space travel used to be strongly associated
with government organizations like NASA,
Yes, it's their money and they
No, they should spend this can decide how to use it but these days it is hard to deny the
money on something else industry’s link with the super-wealthy.
When surveyed in September 2021, a
majority of U.S. adults said that space
travel should be accessible to everyone,
not just those who can afford its high
No prices.
40% 41%
While the American public felt space travel
should be more accessible, a similar share
60% 59%
of respondents stated that billionaires
Yes should be able to spend money on space
travel as it is their money, and they can
decide how to use it. Ultimately, Americans
appear more concerned about the high
price of space travel than the billionaires
that are funding it.

Note(s): United States; September 14 to 21, 2021; 2,050 respondents; 18 years and older
16 Source(s): Qualtrics; ValuePenguin; ID 1293293; ID 1293294
Identifying the leading space tourism companies

Who are the key players in the space tourism market?

Blue Origin It is not difficult to find the key players in the space
Space Perspective Space Adventures tourism industry. However, what is difficult is compiling a
definitive ranking based on the companies’ financial
success. Here are some of the reasons for this:

▪ The industry is in a developmental stage, with

SpaceX Zero 2 Infinity
technologies and processes still in need of refinement.
As such, few companies currently provide a readily
available, consistent product, and some are even yet
to launch a product.
NASTAR Boeing
▪ Companies specialize in multiple areas of the space
economy; therefore, it is hard to identify the most
Virgin Galactic successful when it comes to space tourism alone.
Axiom Space
▪ Companies also specialize in different areas of the
space tourism industry, e.g., spaceflight and training.
Zero-G Orion Span ▪ Unreleased financial reports make exact financial
figures hard to find.

Source(s): Space Tourism Guide

17
Space tourism companies provide many different services
The services provided by selected space tourism companies in 2022

Space Tourism Service Providers in 2022

Companies collaborate to make space
tourism possible
Private
Astronaut When many think of space tourism
Mission
Market Segment Organization Launch Training Spaceport companies, they think of those that
Recruitment
and specialize in spaceflights and launches.
Management
However, there are a few others to bear in
Blue Origin     mind, which are shown in the table to the
Virgin Galactic   
left. These include those that provide
Suborbital training, spaceports, and private
NASTAR  recruitment of teams to participate in
Zero-G  trips to space.
SpaceX    The success of the space tourism industry
Axiom Space   depends not only on collaborations
between commercial companies and
Space Adventures 
Orbital government agencies but also on the
NASTAR  private companies working alongside each
Zero-G  other.

NOLS 

Source(s): New Space Economy

18
Three, two, one … blast off!
2021 was a breakthrough year for space tourism companies going to space

SpaceX operated Inspiration4, a three-day-long human

Virgin Galactic was the first to fly on July 11, 2021, taking spaceflight mission funded by billionaire Jared Isaacman.
billionaire owner Richard Branson on a 90-minute suborbital Launched on September 16, 2021, it was the first human
flight to an altitude of 85 kilometers aboard space plane spaceflight to orbit Earth with only private citizens on board.
SpaceShipTwo. However, there has been debate about whether Isaacman – alongside Hayley Arceneaux, Chris Sembroski, and
this trip counts as the definition of space varies by region. Sian Proctor – circled the Earth for three days. The mission raised
According to the U.S. government, space begins at just over 80 money for St. Jude Children’s Research Hospital and increased
kilometers up. Meanwhile, the Kármán line, which is the interest in human spaceflight and exploration.
internationally recognized border of space, is 100 kilometers up.

2021 July 11 July 20 September 16 October 12

The next company to complete a trip to space was Blue Origin Another trip was taken by Blue Origin’s New Shepard on
on July 20, 2021, which similarly took owner Jeff Bezos aboard October 12, 2021. On board was, again, Jeff Bezos, his
the flight. The company’s New Shepard rocket took a brother Mark Bezos, and “Star Trek” actor William Shatner.
suborbital flight past the Kármán line. At 107 kilometers, the Joining them was 18-year-old Oliver Daemen, who secured a
flight may have been higher than Virgin Galactic’s, but it only seat in an auction, making him Blue Origin’s first paying
lasted 11 minutes. customer. Initially, this seat was won by Justin Sun for 28
million U.S. dollars, but he decided to take a future flight
instead. The proceeds of the auction went to Bezos’ space-
focused nonprofit foundation, Club for the Future.

19
SpaceX proves to be a fan favorite in the new space race
U.S. public opinion on which space companies are leading the private sector’s push into space in 2021

SpaceX Blue Origin Virgin Galactic Boeing Other No answer Which company is the public backing?
100%
While Blue Origin achieved two spaceflights
in 2021, SpaceX was the company that the
90%
American public believed to be leading the
80% private sector’s push into space. SpaceX held
a majority across all generations, but the
70% share decreased with age.
Share of respondents

60% Gen Z held the most belief in SpaceX, with 75

percent of this age group believing the
50% company was leading the so-called new
space race. This opinion was perhaps due to
40%
the heavy social media presence of its
30% founder, Elon Musk. If Gen Z respondents
were basing this decision purely on the level
20% of funding SpaceX has received, they might
be right (more about investment in space
10%
companies will come in the next chapter).
0%
Gen Z: Millennials: Gen X: Baby boomers: Silent generation:
24 and younger 25 to 40 41 to 56 57 to 75 76 and older

Note(s): United States; December 14 to 20, 2021; 2,602 respondents; 18 years and older
20 Source(s): Axios; Momentive; SurveyMonkey; ID 1295151
03 Market and outlook
▪ The price of space tourism
▪ Current market figures
▪ Market outlook
Space tourism is still in its innovation stage
What does the space tourism market look like right now?

The space tourism market is still in its early stages, and whether it can In order to turn space tourism into a product for the masses, the prices
generate enough turnover to make a profit remains to be seen. will need to go down. For example, airplane flights were once a luxury
but are now accessible to many. The alternative is to make the product
As it stands, it is a luxury market. The price of a seat is the main barrier
more appealing to those who can afford its luxury cost.
to customer adoption, with only ultra-high-net-worth individuals being
able to afford the costs. However, just because these consumers can This chapter will give further details on the prices, investment, revenue,
afford it does not necessarily mean they want to take part. and the outlook of space tourism.

What could encourage and discourage people from traveling to space?

Pros: Cons:
▪ To experience adventure ▪ Physical and mental health risks
▪ To experience something unique ▪ Significant personal time commitment due to training
▪ To see the Earth from space ▪ Uncomfortable experience (travel sickness, confined quarters, etc.)
▪ Contributing to technological development ▪ Better products may be available in the future, so why not wait?
▪ Its exclusive nature makes it a status symbol ▪ Negative impact on the environment

22
Prices to travel to space remain out of this world
Space tourism is a luxury market

Why is space tourism so

Price per passenger in
Company Experience Date expensive?
U.S. dollars

Here are some of the reasons:

Suborbital spaceflight on SpaceShipTwo. Available
Virgin Price per seat: Available now ▪ High production costs.
now, Virgin Galactic has given an exact price, unlike
Galactic $450,000 (as of July 2022)
other companies.
▪ Specialist training is required for
space tourists.
Second suborbital spaceflight taken by Blue Origin’s
Auction price of seat: ▪ The limited number of vehicle
Blue Origin New Shepard. The seat was bought at auction;
$28,000,000
October 12, 2021
therefore, the price was not set by Blue Origin. seats means the costs are divided
among fewer people. Using
commercial air travel as an
Inspiration4 mission, orbital spaceflight. This is the
Estimated price per seat: September 16 to
example, airlines can seat many
SpaceX estimated average cost per person of the three-day
$50,000,000 18, 2021 more passengers, so the fare per
mission paid for by billionaire Jared Isaacman.
passenger is lower.

Axiom Axiom Mission 1 (Ax-1) was the planned mission to

Space the International Space Station in a SpaceX Crew Price per seat:
April 8, 2022
& Dragon spacecraft, operated by SpaceX on behalf $55,000,000
SpaceX of Axiom Space.

23
SpaceX has received the most external funding so far
External funding received by SpaceX, Blue Origin, and Virgin Galactic

Space tourism companies have received

Company Funding in U.S. dollars As of Investor count impressive levels of investment

In 2021, venture capitalists invested a total of

17.1 billion U.S. dollars into space companies,
SpaceX $6.874 billion December 4, 2021 29 up from 9.1 billion U.S. dollars the previous
year. This shows that the space economy is an
appealing prospect for investors. A breakdown
of the areas of the space economy that
investors have put their money into between
2012 and 2021 can be found on the following
Blue Origin $561.7 million October 3, 2019 3 page.

Space tourism companies also benefit from

investment. As of December 2021, SpaceX had
received the most external funding and
attracted the most investors compared with
competitors Blue Origin and Virgin Galactic.
Virgin Galactic $1.41 billion October 25, 2019 4
The company had raised approximately 6.9
billion U.S. dollars from 29 investors.

Note(s): Worldwide
24 Source(s): CB Information Services Inc.
Most popular types of space companies among investors
Distribution of equity investments in space companies between 2012 and 2021

Investment in billion U.S. dollars What do these different companies specialize in?

Venture capital firm Space Capital divides investments in

the space economy into three technology categories:
Applications 197
Applications: A collective term for all hardware and
software systems that leverage space-based
infrastructure and distribution to perform specialized
tasks for an end market.
Infrastructure 48
Distribution: A collective term for all hardware and
software systems that support the access and
distribution of space-based infrastructure and
application development.
Distribution 8
Infrastructure: A collective term for all hardware and
software systems that constitute essential components
of space-based infrastructure. This includes satellite
production and launch capabilities, instrumentation,
Total 253 components as well as on-orbit operations. If any of
these systems and services were to be interrupted for a
significant period of time, the space-based infrastructure
may be impaired.

Note(s): Worldwide; 2012 to 2021; figures are rounded

25 Source(s): Space Capital; ID 1297242
Reusable vehicles hold the largest share of the suborbital market
Global suborbital space tourism market size in 2021 and a forecast for 2031, by vehicle type

Market size in million U.S. dollars Reusability is the key to success

Total 396.6 2021 In 2021, the size of the suborbital space
2031 tourism market reached 44.5 million U.S.
dollars and was forecast to hit nearly
293.9 400 million U.S. dollars by 2031.

58.9 The largest share of this market was held

by reusable suborbital vehicles. One of
the key principles of many commercial
43.8 space tourism companies is to reuse
44.5 Suborbital reusable vehicles:
Commercially developed reusable rockets, improving resource efficiency
36.7
7.8 space vehicles that may carry and thus lowering costs in the long term.
humans or cargo. They can reach
the Kármán line.
Kármán line
(100 kilometers)
High-altitude balloons:
Parabolic aircraft: Crewed or uncrewed balloons – usually filled with
A type of fixed-wing aircraft that provides brief near- helium or hydrogen – that are released into the
weightless environments. These can be used to train stratosphere, generally attaining an altitude
astronauts, conduct research, and for the public to between 18 and 37 km (11 and 23 miles) above
experience zero gravity. These do not reach the Kármán line. sea level. These do not reach the Kármán line.

Note(s): Worldwide; 2021

26 Source(s): BIS Research; ID 1292569
 A fluctuating forecast for orbital space tourism revenue
Forecast revenue of the orbital space travel and tourism market worldwide from 2021 to 2030

700 Current orbital space tourism projects

605 Between 2021 and 2030, revenue

600 generated by the orbital space tourism
555
market is forecast to fluctuate, peaking at
Forecast revenue in million U.S. dollars

515
500 605 million U.S. dollars in 2029.
500 475 470
460 455
As mentioned previously, Space
400 Adventures has been working with
400 385
Roscosmos since the early 2000s,
achieving successful orbital space
tourism trips. Other orbital space tourism
300
projects include a partnership between
SpaceX and Axiom Space and a
200 collaboration between NASA and Boeing.

100

0
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030

Note(s): Worldwide; 2021

27 Source(s): Northern Sky Research; Statista estimates; ID 1239530
Space tourism growth is higher than initially expected
The next decade will see space tourism account for five percent of the space economy

Space tourism presents exciting opportunity

Back in 2019, investment bank UBS published a

Size of the space > 900 billion U.S. report containing ten-year forecasts for the size
economy in 2030: dollars of the space economy (around 800 billion U.S.
dollars) and the space tourism industry (three
billion U.S. dollars). UBS revised the projections
with an even more optimistic outlook in 2021,
declaring that the space tourism industry is “an
Space tourism’s share opportunity that continues to evolve and grow”
Approximately
% of the space economy 5%
despite some setbacks caused by the COVID-19
pandemic. UBS provided the following reasons
in 2030: for the industry’s projected growth:

▪ An influx of capital

More ambitious plans than in 2019

Size of the space ▪
4 billion U.S.
tourism industry in ▪ Technical progress since 2019
dollars
2030: ▪ High-profile space tourism trips operated by
the largest private space tourism companies

Note(s): Worldwide; as of July 2021

28 Source(s): UBS
Will space tourism ever take off?
Conclusion

Space tourism has many things working in its favor, from its billionaire scorn for being an elitist pastime. On the other hand, space tourism
backers to humanity’s inherent fascination with the mystery that is could advance to the point where it is available to the masses, in which
space. However, it still has a way to go before it becomes a well- case it might be met with widespread disapproval due to its potential
established market. environmental impact.

Right now, space tourism companies are in a stage of innovation, with While the road – or rather the flight path – ahead may not be so simple,
limited regulations allowing for greater creative freedom. There are it seems that space tourism’s galactic journey has only just begun.
many ideas being developed and tested, such as reusable rockets, more
environmentally friendly fuels, the exploration of Mars, and more.

Regardless of how space tourism evolves, time will tell whether the
market is able to advance technologically and generate enough
consumer interest in order to become sustainable.

With space tourism’s development, there will be numerous challenges,

depending on how this market grows. It could remain a luxury market,
catering to high-net-worth individuals and possibly facing the public’s

29
Glossary
International Space Station (ISS) Mars space tourism Spaceflight participant
A modular space station in low Earth orbit. It Tourism to Mars. This type of tourism is not The term used by NASA, Roscosmos, and the
is a multinational collaborative project possible yet but is an aim for the future. Federal Aviation Administration (FAA) for
involving five participating space agencies: people who travel into space but are not
NASA (United States), Roscosmos (Russia), National Aeronautics and Space professional astronauts.
JAXA (Japan), ESA (Europe), and CSA (Canada). Administration (NASA)
An independent agency of the U.S. federal Suborbital space tourism
Kármán line government responsible for the civilian space A spaceflight in which the spacecraft reaches
An attempt to define a boundary between program, as well as aeronautics and space outer space, but its trajectory intersects the
Earth’s atmosphere and outer space, the research. atmosphere or surface of the gravitating
Kármán line was defined by the Fédération body from which it was launched so that it
Aéronautique Internationale (FAI). The FAI Orbital space tourism will not complete one orbital revolution or
defines the Kármán line as space beginning A spaceflight in which a spacecraft is placed reach escape velocity.
100 kilometers (54 nautical miles; 62 miles; on a trajectory where it could remain in
330,000 feet) above Earth’s mean sea level. space for at least one orbit. Terrestrial space tourism
Earth-based space tourism. This includes
Lunar space tourism Roscosmos activities such as stargazing, space museums,
Tourism to the moon. This could include A state corporation of the Russian Federation observatories, and even trips to see auroras.
flyby in a circumlunar trajectory, lunar orbit, responsible for spaceflights, cosmonautics
or lunar landing. This type of tourism programs, and aerospace research.
remains largely aspirational.

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Sources
Axios Qualtrics

BIS Research Scientific American

CB Information Services Inc. Space Capital

CNBC Space Tourism Guide

Federal Aviation Administration (FAA) [Link]

Forbes SurveyMonkey

Momentive Union Bank of Switzerland (UBS)

National Aeronautics and Space Administration (NASA) ValuePenguin

New Space Economy World Finance

Northern Sky Research

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Recommendations
DossierPlus Dossiers
Climate change in the Anthropocene Aircraft MRO market worldwide

Low-cost carriers in Europe European aerospace industry

Luxury travel and tourism amid the pandemic Space industry worldwide

Luxury travel and tourism in Europe amid the pandemic Tourism worldwide

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SOPHIE LOCK
Senior researcher
Sophie Lock is a Statista research expert for the travel,
tourism, hospitality, and recreation industries.

E-MAIL [Link]@[Link]

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