Sub-orbital Transportation and Space Tourism Market Applications, Overview, Size, Growth, Trends, Demand, Forecast 2028

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Rising focus on space exploration and private initiatives to facilitate space transportation and high altitude balloon launches for tourism are key factors market revenue growth

The global sub-orbital transportation and space tourism market size reached USD 423.7 million in 2020 and is expected to register a revenue CAGR of 16.8%, during the forecast period.

Some of the major factors driving global sub-orbital transportation and space tourism market revenue growth include increased focus on space explorations and private initiatives to facilitate space transportation. Increasing focus on launching high-altitude balloons for space tourism, as well as astronomy among a number of enthusiasts is expected to propel revenue growth of the global sub-orbital transportation and space tourism market between 2021 and 2028.

High-altitude balloons sent into the stratosphere could achieve a nominal height of 30 kilometers and are often loaded with hydrogen and helium. Balloons are categorized depending on desired use such as research balloons and weather balloons. Research balloons are used for a wide range of purposes, including Earth observation, monitoring, and communications. Weather balloons are being used for forecasts, disaster alerts, and other related applications. 

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Emergen Research has recently published a detailed report on the global Sub-orbital Transportation and Space Tourism Market formulated through extensive primary and secondary research. The report offers in-depth knowledge and analysis of the Sub-orbital Transportation and Space Tourism Market through verified and validated data curated to offer accurate insights. The report also offers a region wise and country wise analysis of the Sub-orbital Transportation and Space Tourism Market and contains a detailed analysis of the key elements influencing the growth of the market in the region. The research study also contains historical, current, and forecast estimations for each sector, segment, sub-segment, and regions.

Some players analyzed in the report are:

Near Space Corporation, Blue Origin, LLC, Exos Aerospace Systems Technologies, Inc., Aerostar International, Inc., Space Exploration Technologies Corp. (SpaceX), UP Aerospace, Inc., PD AeroSpace, LTD., Space Perspective Inc., Zero 2 Infinity SL, and Virgin Galactic Holdings Inc.

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Key Highlights from the Report

Sub-orbital reusable vehicles segment is expected to expand at a substantially rapid revenue CAGR during the forecast period due to increasing demand for such vehicles for sub-orbital transportation and space tourism.

Rocket-powered vehicles are known as sub-orbital reusable vehicles. Launching profiles of such vehicles vary from vertical takeoff and landings and horizontal launched wings vehicles.

Cargo delivery segment is expected to register a significantly steady revenue growth rate over the forecast period as it is considered the primary goal of space transportation.

Emergen Research has segmented global sub-orbital transportation and space tourism on the basis of vehicle, application, end-use, and region:

Vehicle Outlook (Revenue, USD Million; 2018–2028)

High-Altitude Balloons

Sub-Orbital Reusable Vehicles

Parabolic Flights

Application Outlook (Revenue, USD Million; 2018–2028)

Space Tourism

Cargo Delivery

Satellite Deployment

Remote Sensing Earth Observation

Others

End-Use Outlook (Revenue, USD Million; 2018–2028)

Government

Aerospace Defense

Commercial

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Detailed Regional Analysis covers:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Valuable Market Insights:

The report highlights the latest trends observed in the consumption pattern of each regional segment.

Extensive market segmentation included in the report helps better understand the revenue and estimated growth of the individual regions.

The report throws light on the historical and current market scenarios and provides a concise year-on-year growth rate of the global Sub-orbital Transportation and Space Tourism market.

The report further entails the current market trends, technological advancements, revenue growth, and other aspects affecting market growth.

Questions addressed in the report:

What is the estimated market growth rate throughout the forecast period?

Which end-use industry is expected to witness the highest demand for Sub-orbital Transportation and Space Tourism in the near future?

What is the regulatory framework governing the application of Sub-orbital Transportation and Space Tourism in the food industry?

Which manufacturing processes are utilized for the production of Sub-orbital Transportation and Space Tourism?

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