Middle East & Africa Space Tourism Market Size & Outlook
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MEA space tourism market highlights
- The MEA space tourism market generated a revenue of USD 49.0 million in 2023.
- The market is expected to grow at a CAGR of 38.1% from 2024 to 2030.
- In terms of segment, sub-orbital was the largest revenue generating type in 2023.
- Orbital is the most lucrative type segment registering the fastest growth during the forecast period.
MEA data book summary
| Market revenue in 2023 | USD 49.0 million |
| Market revenue in 2030 | USD 469.0 million |
| Growth rate | 38.1% (CAGR from 2023 to 2030) |
| Largest segment | Sub-orbital |
| Fastest growing segment | Orbital |
| Historical data covered | 2017 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Orbital, Sub-orbital |
| Key market players worldwide | Virgin Galactic Holdings Inc Shs A, Airbus SE, Boeing Co, Rocket Lab USA Inc, Blue Origin, SpaceX, Zero Gravity Solutions Inc, Axiom Space, Space Adventures, Zero 2 Infinity |
Other key industry trends
- In terms of revenue, MEA region accounted for 5.5% of the global space tourism market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 4,146.3 million by 2030.
The Middle East and Africa region is witnessing gradual growth in the space tourism market, driven by several key factors specific to the region. In the Middle East, UAE has emerged as a significant player in the space tourism sector. The UAE's ambitious space program, highlighted by the successful Mars mission with the Hope Probe, has elevated its status in the global space industry.
This achievement has boosted the UAE's reputation as a center for technological innovation and created a foundation for future space tourism initiatives. The UAE intends to develop spaceports and attract international space tourism companies to operate within its borders, positioning itself as a potential hub for space tourism activities in the region.
Furthermore, the UAE's strong economic resources and commitment to technological advancement provide a favorable environment for the growth of space tourism. The government's investment in research and development, as well as its focus on fostering collaboration with international partners, further supports the expansion of the space tourism market in the region.
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Publish Date: Jul 05, 2024
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Space Tourism Market Scope
Space Tourism Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Airbus SE | View profile | 150,093 | P.O. Box 32008, Leiden, ZH, Netherlands, 2303 DA | www.airbus.com |
| Virgin Galactic Holdings Inc Shs A | View profile | 805 | 1700 Flight Way, Tustin, CA, United States, 92782 | www.virgingalactic.com |
| Rocket Lab USA Inc | View profile | 1,650 | 3881 McGowen Street, Long Beach, CA, United States, 90808 | www.rocketlabusa.com |
| Boeing Co | View profile | 171,000 | 929 Long Bridge Drive, Arlington, VA, United States, 22202 | www.boeing.com |
| SpaceX | View profile | 1001-5000 | Hawthorne, California, United States, North America | www.spacex.com |
| Blue Origin | View profile | 10001+ | Kent, Washington, United States, North America | www.blueorigin.com |
| Zero Gravity Solutions Inc | View profile | 17 | 190 North West Spanish River Boulevard, Boca Raton, FL, United States, 33431 | www.zerogsi.com |
| Axiom Space | View profile | 501-1000 | Houston, Texas, United States, North America | www.axiomspace.com |
| Space Adventures | View profile | 11-50 | Vienna, Virginia, United States, North America | spaceadventures.com/ |
| Zero 2 Infinity | View profile | 11-50 | Barbará, Catalonia, Spain, Europe | www.zero2infinity.space |
Middle East & Africa Space Tourism Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Space Tourism Market Outlook will help companies and investors design strategic landscapes.
Sub-Orbital was the largest segment with a revenue share of 52.04% in 2023.
Horizon Databook has segmented the Middle East & Africa space tourism market based on orbital, sub-orbital covering the revenue growth of each sub-segment from 2017 to 2030.
The Middle East and Africa region is witnessing gradual growth in the space tourism market, driven by several key factors specific to the region. In the Middle East, UAE has emerged as a significant player in the space tourism sector. The UAE's ambitious space program, highlighted by the successful Mars mission with the Hope Probe, has elevated its status in the global space industry.
This achievement has boosted the UAE's reputation as a center for technological innovation and created a foundation for future space tourism initiatives. The UAE intends to develop spaceports and attract international space tourism companies to operate within its borders, positioning itself as a potential hub for space tourism activities in the region.
Furthermore, the UAE's strong economic resources and commitment to technological advancement provide a favorable environment for the growth of space tourism. The government's investment in research and development, as well as its focus on fostering collaboration with international partners, further supports the expansion of the space tourism market in the region.
- Middle East & Africa Space Tourism Market Type Outlook (Revenue, USD Million , 2017-2030)
- Orbital
- Sub-orbital
- Others
- Middle East & Africa Space Tourism Market End Use Outlook (Revenue, USD Million , 2017-2030)
- Government
- Commercial
- Others
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa Space Tourism Market Outlook, including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa Space Tourism Market Outlook from 2017 to 2030, including revenue numbers, major trends, and company profiles.
MEA space tourism market statistics, by type, 2017-2030 (US$M)
