Flying over 57,500 Passengers toward Space by 2031 - Orbital Travel Captures Majority of $20.3 Billion Space Travel Revenue
CAMBRIDGE, Mass., Jan. 05, 2022 (GLOBE NEWSWIRE) -- NSR’s newly released Space Tourism & Travel Markets, 3rd Edition (STT3) report sees over 57,500 passengers heading to ‘space’ through the decade, generating $20.3 Billion cumulative revenues. NSR’s STT3 finds the rapid growth seen in the Space Tourism & Travel Markets driven by a growing commercial passenger interest, along with government funding and demand.
As the most stable and lucrative segment through 2031, Orbital Travel is set to capture 66% of total revenue opportunity. Orbital Travel has strong government support with initiatives such as the Commercial Crew program and commercial company led Space Station development. High ticket prices, coupled with very strong demand, results in a fast-growing market, even amongst delays.
“Orbital Travel continues to advance, shaped by government market support, though it will take some time for other markets to reach their stride,” notes report Co-author Dallas Kasaboski. “Delays and missed milestones are common and will continue given the high-costs and risks of developing human flight capabilities, yet across the field, opportunities are on the rise.”
With increasing interest in Parabolic flights as a training ground for other segments, such as suborbital & orbital, this market will fly most passengers through the decade. Such multi-vertical collaborations now build the foundations for emerging markets, diversifying revenue opportunity towards future gains.
With missions already in development, interest is mounting in the nascent Beyond Earth market, seeing significant longer-term revenue opportunity with early engagement driving progress.
“The emerging Beyond Earth segment has already received substantial investment to take people to the Moon and back,” states report Co-author Hussain Bokhari. “While likely to be developed with government Astronauts in mind and shaped by trends in that sector, commercial opportunities will be significant.”
With each market milestone successfully achieved, commercial and government interest grows. Space Tourism & Travel Markets will move quickly with diverse opportunities for engagement and development. The sector is definitely “one to watch”.
About the Report
NSR’s Space Tourism & Travel Markets, 3rd Edition (STT3) is the industry-leading assessment of these rapidly developing global markets. Taking a grounded and bottoms-up approach, the report forecasts the number of vehicles, flights, passengers served, serviceable demand, and market revenues generated within the Suborbital, Orbital, Parabolic flights, and Beyond Earth segments. STT3 details the competitive landscape in each market segment, providing a critical status report on the entire industry, and the key players involved.
For additional information on this report, including a full table of contents, list of exhibits and executive summary, please visit www.nsr.com or call NSR at +1-617-674-7743.
Companies, Organizations, and Investors Mentioned in NSR’s STT3
AFRL, Airbus, AirZero G, Arizona State University, ASI, Aurora Aerospace, Axiom Space, Beijing Lingkong Tianxing Technology Co., Blue Origin, The Boeing Company, Canadian Space Agency, Cessna, CNES, CNSA, CosmoCourse, Country of Space Tourism, Credit Suisse, DARPA, DLR, Dynetics, EOS-X Space, Energia Rocket and Space Corporation, European Space Agency, Fuji Heavy Industries, Genesis Engineering, Hermeus, Incredible Adventures, Indian Space Research Organization (ISRO), iSpace, JAXA, Kanematsu Corporation, Lockheed Martin, MBRSC, Nanoracks, NASA, NASTAR, National Geographic, Northrop Grumman Corp., Novespace, NV Space Training Academy, Orbital Assembly Corp, Orbite Inc., PD Aerospace, Reaction Engines, Redwire Space, Rock Mountain Capital, Rocket Lab, Rockwell, Roscosmos, Sierra Space, Space Command, Saber Astronautics, Space Adventures, SpaceX, Space Perspective, Star City Tours, Turkish Space Agency, UK Space Agency, Vegitel, Virgin Galactic, Voyager Space Holdings, World View, Xcor, Zero2Infinity, and ZeroG.
NSR is the leading global market research and consulting firm focused on the satellite and space sectors, NSR’s global team, unparalleled coverage and anticipation of trends with a high degree of confidence and precision than the competition is the cornerstone of all NSR offerings. First to market coverage and a transparent, dependable approach sets NSR apart as the key provider of critical insight to the satellite and space industries.
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