Global sub-orbital transport and space tourism market to reach $ 2.58 billion by 2031, BIS research study
FREMONT, California, July 6, 2021 / PRNewswire / – The global suborbital transport and space tourism market is should reach $ 2.58 billion by 2031, reveals the premium Market Intelligence study from BIS Research. The study also points out that the market is expected to experience a CAGR of 17.15% during the period 2021-2031.
A sub-orbital space flight can be called when the trajectory of a spacecraft touches the surface of the gravitational body from which it is launched, which is at an altitude greater than 100 km above sea level. Sub-orbital transport not only includes the use of spacecraft for microgravity experiments, satellite deployments or the delivery of goods, but also encompasses space tourism. Space tourism has been one of the priority areas of the space industry, especially for commercial space entities.
USP of Market Intelligence Report
- A section dedicated to investment scenarios
- Coverage of current and emerging space ports, as well as the number of suborbital launches
- Cross-segmentation of Air Vehicle Types and End User Based on Application
- Qualitative analysis of the potential use of airports
The detailed study is a compilation of 155 market data tables and 42 figures spread over 206 pages and an in-depth table of contents on Sub-orbital transport and space tourism market
Analysts’ perspective on the market
According to Nilopal Ojha, Senior Analyst, BIS Research, âWith the increasing innovations and technological developments in space transportation and the growing public interest in viewing space and experiencing weightlessness, the transportation market is expected to Suborbital and space tourism will develop considerably during the forecast period. “
Key companies operating in the market
Major companies operating in the market include Blue Origin, Dassault Aviation, exos Aerospace, i-Space, Near Space Corporation, Orbspace, PD AeroSpace, LTD, Raven Aerostar, SHIPinSPACE LTD, SpaceX, Stratodynamics, Swedish Space Corporation, UP Aerospace, Virgin Galactic, World View, Zero Gravity Corporation, and Zero 2 Infinity. Other emerging players in the market include Suborbitality sro, OneSpace, Equatorial Space Systems, Black Sky Aerospace and Space Perspective.
The companies featured in the report were selected after going through in-depth interviews with experts and including company details such as product portfolio, annual revenue, market penetration, research and development initiatives, and presence. national and international in the space industry.
See the BIS Research report: Sub-orbital transport and space tourism market
Market segmentation of the sub-orbital transport and space tourism market
- Types of flight vehicles: The sub-orbital transport and space tourism market has been segmented on the basis of various types of flight vehicles including reusable sub-orbital vehicles, high altitude balloons, and parabolic planes. The sub-orbital reusable vehicle segment is expected to dominate the sub-orbital transport and space tourism market. The growth of this segment is attributed to the growing number of emerging companies involved in the development of these reusable vehicles that will perform suborbital transport.
- Final user: The suborbital transportation and space tourism market has been segmented on the basis of end users: commercial, military and government. The government end-user segment is expected to dominate the sub-orbital transport and space tourism market. Factors contributing to this growth are the growing number of partnerships and contracts that government agencies are entering into with commercial players for several suborbital transportation applications.
- Region: The suborbital transport and space tourism market has been segmented on the basis of region: North America, Europe, Asia Pacific, and Rest-of-the-world. North America is expected to dominate the global suborbital transportation and space tourism market during the forecast period. The increasing number of successful demonstrations and test flights performed by the major players in this market has created an opportunity not only for them but also for other players who want to enter the market. Apart from that, these successful demonstrations have proven the viability of these systems and could push these companies to market their product offerings. In addition, several space ports, such as the West Texas launch site and the Spaceport America launch site, which support sub-orbital spaceflight, are also expected to boost sub-orbital transport and space tourism operations. , which in turn will drive the growth of the market.
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How can business intelligence in the suborbital transport and space tourism market add value to your organization’s decision-making process?
Product / innovation strategy: The product section will help the reader to understand the different types of air vehicles used for suborbital transport and space tourism. It will also help readers understand the market potential of different platforms globally. The players operating in this market are developing innovative offers and focusing heavily on testing as well as demonstrating the capabilities of their platform. In addition, the study also examines the investment scenario as well as emerging space ports that will enable sub-orbital transport and space tourism.
Growth / Marketing Strategy: Players operating in the global suborbital transport and space tourism market are engaged in several strategies, including strategic partnerships, contracts and business expansion. The growth / marketing strategies will help the readers to understand the revenue generating strategies adopted by the players operating in the global suborbital transport and space tourism market.
Competitive strategy: The players analyzed and profiled in the study are original equipment manufacturers (OEMs) or platform manufacturers. These companies capture maximum share of the global suborbital transport and space tourism market. Additionally, a detailed benchmarking analysis of the competition of players operating in the global Sub-orbital transport and space tourism market has been performed, which will help the reader to understand the performance of players against each other, presenting a clear market landscape. In addition to this, comprehensive competitive strategies such as partnerships, agreements, and collaborations will help the reader understand the untapped pockets of revenue in the market.
Key questions addressed in the report
- What are the underlying structures driving the emerging trends in the suborbital transportation and space tourism market?
- What are the potential opportunities in the market for new OEMs and other players?
- What are the driving factors driving the growth of the sub-orbital transport and space tourism market, and what are the challenging factors?
- Which application and which end user is expected to dominate the suborbital transport and space tourism market by 2031?
- What was the market value of the regions in the sub-orbital transport and space tourism market in 2020, and how is the market expected to grow during the forecast period 2021-2031?
- What is the investment scenario in the sub-orbital transport and space tourism market?
- How is the industry expected to evolve over the forecast period 2021-2031?
- What are the main development strategies implemented by the main players to support the competitive market?
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