The global space tourism market is anticipated to grow at an exponential CAGR of 41.6% during the forecast period (2024-2031). China, one of the fastest-growing nations in space, is looking to offer commercial flights to suborbital space. An article published by MATT WILLIAMS, in September 2022 titled, Chinese Companies are planning to offer Space Tourism Flights by 2025, China, a rapidly advancing player in space exploration, aims to provide commercial suborbital space flights. As space agencies aim to send astronauts back to the Moon, this time to stay, crewed missions to Mars and robotic missions throughout the Solar System, new space companies are offering affordable launch services, sending commercial astronauts to space, and commercializing LEO. According to China Global Television Network (CGTN), China will send its first group of commercial passengers on a spaceflight, with ticket prices ranging between $287,200 to $430,800 (2 to 3 million yuan). However, China is a relative newcomer to the commercial space scene, this announcement signals its intent to compete with companies based in the US and other space competitors. This move reflects China's intent to compete with established NewSpace companies such as Virgin Galactic, Blue Origin, and SpaceX in the growing space tourism industry.
Browse the full report description of “Space Tourism Market Size, Share & Trends Analysis Report by Type (Orbital, and Sub-orbital), by End-User (Government, and Commercial), Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/space-tourism-market
In addition, the growing collaborations between Chinese space tech companies and China Tourism Group to accelerate the growth of the space tourism market. Through the cooperation agreement, the two entities are joining forces to explore and advance opportunities in space tourism to the overall development and expansion of commercial space travel experiences. In July 2022, a Chinese space tech company, CAS Space, signed a cooperation agreement with China Tourism Group, the country's largest state-owned travel corporation. The agreement aimed to jointly promote the application of commercial space technology, signaling the imminent development of a domestic space tourism industry.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Type
o By End-User
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
Competitive Landscape- Blue Origin, LLC, Boeing Co., Space Exploration Technologies Corp., (SpaceX), and Virgin Galactic Holdings, Inc. among others.
Key questions addressed by the report
Global Space Tourism Market Report Segment
By Type
By End-User
Global Space Tourism Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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