The report talks about the shift in demands and emerging trends that are expected to drive the growth of the Sub-orbital Transportation and Space Tourism market. The rising demand for the Sub-orbital Transportation and Space Tourism market is expected to drive the demand for Sub-orbital Transportation and Space Tourism market, thereby bolstering the growth of the industry. Moreover, the report also studies the impact of the COVID-19 pandemic on the market.
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, according to latest analysis by Emergen Research. 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.
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.
- North America is expected to register a larger revenue growth rate in the sub-orbital transportation and space tourism market over the forecast period due to robust presence of major market players, including Blue Origin, LLC, Space Exploration Technologies Corp., and Virgin Galactic Holdings Inc., among others in developed countries in the region.
The latest research report entails an in-depth analysis of the current growth opportunities for various regions of the Sub-orbital Transportation and Space Tourism market, gauging their revenue share over the forecast timeline. Furthermore, the report analysis the year-on-year growth rate of these regions over the forecast duration. The leading market regions profiled in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Some major companies operating in the market include 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.
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
End-Use Outlook (Revenue, USD Million; 2018–2028)
- Aerospace & Defense
Key takeaways of the Global Sub-orbital Transportation and Space Tourism Market report:
- The report sheds light on the fundamental Sub-orbital Transportation and Space Tourism market drivers, restraints, opportunities, threats, and challenges.
- It elaborates on the new, promising arenas in the leading Sub-orbital Transportation and Space Tourism market regions.
- It examines the latest research & development projects and technological innovations taking place in the key regional segments.
- The research report reviews the regulatory framework for creating new opportunities in various regions of the Sub-orbital Transportation and Space Tourism market
- It focuses on the new revenue streams for the players in the emerging markets.
- Furthermore, the report offers vital details about the rising revenue shares and the sizes of the key product segments.
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