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Space Tourism – An Analysis of Space Tourism’s Place in the Space Economy, Patents, Key Players, Space Hotels, Main Source Markets, Challenges and Opportunities

2021 marked a significant year for space tourism as new entrants announced their arrival. Within the same month, Richard Branson’s Virgin Galactic and Jeff Bezos’s Blue Origin successfully completed suborbital flights, with both billionaires being participants on these voyages to boost trust among potential customers. A few months later, Elon Musk’s SpaceX launched its all-civilian Inspiration4 mission. Its Dragon craft would orbit Earth for three days before splashing down in the ocean.

2021 was a memorable milestone for the sector as the space race heated up. 2022 looks set to be another busy year for space tourism as Axiom Space joins the competition with its first scheduled flight planned for early this year. The space tourism case study looks at the fledgling space tourism sector. It discusses space tourism’s place in the space economy, patents being published by space tourism companies, the key players, planned space hotels, and the main source markets that companies should be targeting. Finally, the case study considers the challenges and opportunities in this highly innovative sector.

What are the market dynamics in the space tourism market?

The space economy has previously been restricted to satellites and their sub-systems but the willingness of high-net-worth individuals and progressive companies to explore beyond Earth has allowed tourism to enter this fledgling economy. The future space economy will consist of satellites, space debris, space mining, space exploration, space tourism, and space infrastructure manufacturing. Also, high-profile commercial flights have led some to dub the current phase of the space economy the “billionaire space race.” The launch of Richard Branson and Jeff Bezos on their respective Virgin Galactic and Blue Origin missions highlighted the potential for space tourism. However, the scrapping of Space Adventures’ Crew Dragon mission demonstrated that price, timing, and the experience currently offered needs to be constantly evaluated.

Although space tourism will be restricted to the few, new actors can be expected to enter the market offering lower-cost alternatives. Space Perspective’s stratospheric ballooning offering is one such example. Until leading companies such as SpaceX, Virgin Galactic and Blue Origin can scale their technology to make it accessible to non-millionaires, these companies will have a minute target market of roughly one percent of the global population.

Which are the main source markets for space tourism?

The US, China, Japan, the UK, India, Germany, Canada, France, Hong Kong, and Australia are the main source markets for space tourism.

The US will be the most important source market for space tourism companies. All players in the space tourism sector needs to be targeting the US source market when promoting their expeditions and hotels, as campaigns are likely to have the biggest impact when aimed at this market.

China and Japan have the second and third highest number of high-net and ultra-high-net-worth individuals, making these source markets viable options for space tourism companies. The wealthiest citizens of Japan may have an appetite for space travel, as already seen in 2021. Japanese billionaire Yusaku Maezawa returned to Earth after a 12-day journey to the ISS in December 2021, which marked the end of a practice run for his planned trip around the moon with SpaceX in 2023.

Space tourism market, by source markets

Space tourism market, by source markets

To know more about source markets, download a free sample

What are the latest patents in the space tourism market?

The two of the latest patents in the space tourism market are near-space operation systems and pod for space or near-space flights

Near-space operation systems

This invention provides a system for high altitude and near-space operations. More particularly, this invention relates to providing a system enabling safe manned and unmanned operations at extremely high altitudes (above about 70,000 feet), which in theory would enable stratospheric visits using lighter-than-air vehicles. There is increasing interest in technologies enabling high altitude and near space access for tourism, research, education and other scientific and commercial pursuits. As the introduction of the airplane, the computer, and the internet proved, making new regions of our planet accessible can bring about revolutionary scientific, social, and economic advances.

Pod for space or near-space flights

A pod for flights to and/or from space or near-space, including a pressurized body for hosting passengers, the pressurized body having a substantially ring-like shape provided around a central axis and having a central opening, wherein the pressurized body includes one or more windows. There is a need to develop spacecraft or space vessels that have the potential to make space tourism more affordable. There is also a need to make space tourism more comfortable and a more enjoyable experience. And there is also a need to make space tourism less contaminating.

Which are the key players in the space tourism market?

World View, Space Perspective, Virgin Galactic, Blue Origin, Axiom Space, Zero 2 Infinity, Boeing, and Orbital Assembly Corporation are the key players in the space tourism market.

Space tourism market, by key players

Space tourism market, by key players

To know more about key players, download a free sample

Market report scope

Main source markets The US, China, Japan, the UK, India, Germany, Canada, France, Hong Kong, and Australia
Latest patents Near-space operation systems and Pod for space or near-space flights
Key players World View, Space Perspective, Virgin Galactic, Blue Origin, Axiom Space, Zero 2 Infinity, Boeing, and Orbital Assembly Corporation

Reasons to Buy

  • Gain an understanding of the space tourism sector.
  • Recognise the range of different companies that will be battling for market share.
  • Gain an understanding of the opportunities and challenges in space tourism.

Key Players

World View

Space Perspective

Virgin Galactic

Blue Origin

Axiom Space

Zero 2 Infinity

Boeing

Orbital Assembly Corporation

Table of Contents

Table of Contents

Overview

Main findings

Space tourism’s place in the space economy

Patents

Key players with pricing below $500,000

Key players with pricing above $50 million

Space hotels

Main source markets

Challenges for space tourism

Opportunities for space tourism

Appendix

Frequently Asked Questions

The US, China, Japan, the UK, India, Germany, Canada, France, Hong Kong, and Australia are the main source markets in the space tourism market.

 

 

The two of the latest patents in the space tourism market are near-space operation systems and pod for space or near-space flights.

World View, Space Perspective, Virgin Galactic, Blue Origin, Axiom Space, Zero 2 Infinity, Boeing, and Orbital Assembly Corporation are the key players in the space tourism market.

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