Jul 14, 2021   SOURCE: BusinessWire

Worldwide Sub-Orbital Transportation and Space Tourism Industry to 2031 - Increasing Developments in Spaceports Presents Opportunities - ResearchAndMarkets.com

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

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 Dynamics

Growth Drivers

  • Focused Efforts to Enable Space Transportation
  • Emerging Start-Ups in Sub-Orbital Transportation

Challenges

  • Delay in Space Tourism Flights

Opportunities

  • Increasing Developments in Spaceports

Companies Mentioned

  • Blue Origin
  • Equatorial Space Systems Pte Ltd.
  • EXOS Aerospace Systems & Technologies, inc.
  • Near Space Corp.
  • Orbspace
  • PD AeroSpace, LTD
  • Raven Aerostar
  • Space Perspective
  • SpaceX
  • Swedish Space Corporation
  • UP Aerospace Inc.
  • Virgin Galactic
  • World View Enterprises
  • Zero 2 Infinity S.L
  • Zero Gravity Corporation

For more information about this report visit https://www.researchandmarkets.com/r/62gn8w