Sep 26, 2020
1  Likes 0 Comments
About this Deal
There’s an emerging industry thought to be only science fiction not too long ago that’s close to becoming a reality: space tourism.
And a handful of companies – including one publicly traded name – are competing neck and neck to be leaders in the emerging market.
But what space tourism entails, and how much it costs per person, varies greatly depending on a company’s technological capabilities. For example, both Virgin Galactic and SpaceX expect to fly private paying passengers to space next year. But, while passengers flying with both companies would go to space by the Federal Aviation Administration’s definition, a Virgin Galactic passenger spends about 0.04% as much time in space as on a SpaceX trip, while a ride with Elon Musk’s company is expected to cost roughly 200 times as much.
Whether a passenger reaches suborbital and orbital space is the major difference in the destinations of the human spaceflight offerings in development. Because of that difference, there are notable distinctions in the cost, experience and even risk of what it means to be a space tourist.
UBS in a report last year estimated that space tourism, with both suborbital and orbital together, has a potential market value of $3 billion by 2030. More recently, space industry consultancy Northern Sky Research broke out its expectations for suborbital versus orbital tourism. By 2028, NSR expects suborbital will be a $2.8 billion market, with $10.4 billion in total revenue over the next decade, while orbital will be a $610 million market, with $3.6 billion in total revenue over the next decade.
Here’s how the small but growing market breaks down, and which companies are involved in each area.