Sub-Orbital Space Tourism Market Industry Manufacturers
Space transportation has garnered significant interest from several space industry players in the past few years. In the past, most space transportation has been focused on cargo supply missions to the International Space Station (ISS) and launch services, but currently, this focus has shifted to in-space transportation, planetary explorations, crewed missions, sub-orbital transportation, and space tourism. Several companies, including SpaceX, Blue Origin, and Virgin Galactic, have been focusing on developing platforms such as rocket-powered sub-orbital vehicles that will enable the industry to carry out sub-orbital space tourism.
Read Report Overview: Sub-Orbital Space Tourism Market
Space transportation technologies are very complex, with some systems requiring long development cycles of up to a decade. Hence, the European Space Agency (ESA) is looking for long-term trends and potential advancements that cater to the future programs currently under preparation. The developments and operations of sub-orbital transportation service have to take into consideration the total infrastructure, which includes the vehicles, ground support systems, flight support systems, and an international regulatory environment, which outlines the processes and governs their developments and operations to ensure to meet the requirements of general public’s demands. Advancement in technologies is critical to further enable space transportation. Technologies such as reusable launch vehicle systems, on-orbit transportation and servicing technologies, and upcoming space stations and habitats have the potential to further next-gen space-based transportation.
Government Segment to Lead the Sub-Orbital Space Tourism Market
The government space agencies, worldwide, are continuously working on developing efficient and cost-effective satellites in order to meet their own demand for varied applications. The government segment is expected to lead the market during the forecast period from 2021 to 2031. The factors contributing to this growth are the increasing number of partnerships and contracts that government agencies are forming with commercial players for several sub-orbital transportation applications.
Sub-Orbital Reusable Vehicles Segment to Lead the Sub-Orbital Space Tourism Market
Sub-orbital reusable vehicles (SRVs) have been gaining attention for their benefits and establishing a new spaceflight industry. Comparatively, SRVs would be less expensive to develop and operate than orbital RLVs. A number of SRVs have the capability to carry humans, with current designs for one to six passengers, in addition to one or two crew members in some cases. The sub-orbital reusable vehicles segment is expected to lead the market during the forecast period from 2021 to 2031. One of the factors contributing to this growth is the growing number of emerging companies involved in developing such reusable vehicles that will carry out sub-orbital space tourism.
North America to Dominate the Sub-Orbital Space Tourism Market
North America is expected to dominate the global sub-orbital space tourism market during the forecast period. The factor attributing to the growth of this region is the high presence of the key companies highly engaged in developing and demonstrating sub-orbital space tourism capabilities in the region.
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Sub-orbital spaceflight can be referred to as when a spacecraft reaches outer space, however its trajectory intersects the surface of the gravitating body from where it is launched, which is an altitude higher than 100 km above sea level. There have been lots of researchers in the past who have worked on sub-orbital flights. Sub-orbital transportation not only includes using spacecraft for microgravit experiments, satellite deployments, or cargo delivery but also encompasses space tourism. Space tourism has been one of the focused areas in the space industry, particularly for commercial space entities.