GVR Report cover Space Tourism Market Size, Share & Trends Report

Space Tourism Market Size, Share & Trends Analysis Report By Type (Orbital, Sub-orbital), By End-use (Government, Commercial), By Region (North America, Europe, APAC, Latin America, MEA), And Segment Forecasts, 2024 - 2030

  • Report ID: GVR-4-68039-955-3
  • Number of Pages: 100
  • Format: Electronic (PDF)
  • Historical Range: 2017 - 2023
  • Industry: Technology

Space Tourism Market Size & Trends

The global space tourism market size was valued at USD 851.4 million in 2023. It is expected to grow at a compound annual growth rate (CAGR) of 44.8% from 2024 to 2030. Rising advancements in technology, growing inclination of adventure travelers, High Net Worth of Income (HNWI) individuals toward spaceflight, and increased focus on research and development activities by government and private research organizations are some of the factors fueling the growth of the market. Space tourism allows travelers to travel within and across the Earth’s orbit for leisure, recreation, or business purposes. Space tourism is anticipated to make travel accessible to lay and non-astronaut people in the coming years. The industry is expanding at a tremendous growth rate owing to technological innovations coupled with users’ inclination toward space adventures.

U.S. Space Tourism market size and growth rate, 2024 - 2030

In 2021, there were 146 space launches, out of which 51 were from the U.S., 55 from China, and 25 from Russia. The launches are expected to rise, which can deteriorate the ozone layer, thus creating a detrimental effect on the Earth’s climate. In June 2022, researchers from the Massachusetts Institute of Technology (MIT), the University of Cambridge, and the University College London (UCL) observed that the soot emitted from rocket launches had impacted the atmosphere by generating more heat when compared to other emitting sources.

The emitted pollutants are responsible for the depletion of the ozone layer in the stratosphere. The spacecraft sent into orbit follows a multi-stage configuration and is plunged to pass through the Earth’s atmosphere. With every stage, the auxiliary parts are separated from the launch vehicle and are discarded or reused in further explorations.

The industry has remarkably evolved in the U.S. and Europe owing to the accessibility of launch facilities, commercial space launches, technological breakthroughs, and space tourism. The market is consolidated, with a few players dominating and capturing a significant share. These players have been planning on research and development to build orbital and suborbital vehicles to travel to space in the coming years. These companies have invested an enormous sum of the amount, as the industry is anticipated witness exponential growth.

Market Concentration & Characteristics

The space tourism industry has a very high level of innovation since businesses are always trying to come up with new ideas and cutting-edge technologies to improve the entire space travel experience. This innovation includes improvements in propulsion systems, safety procedures, and consumer engagement tactics in addition to spaceship architecture. The sector is ready to launch ground-breaking solutions that push the frontiers of space tourism, drawing a wide spectrum of clients and encouraging long-term growth, thanks to continuous investments in research and development.

Space Tourism Market Concentration & Characteristics

In the space tourism industry, there are also numerous instances of mergers and acquisitions taking place. As the market develops, businesses look for strategic alliances, buyouts, and joint ventures to pool resources, pool knowledge, and get past financial and technological obstacles. M&A transactions enable businesses to take advantage of synergies and improve processes by facilitating the transfer of knowledge and technologies. This ever-changing corporate transaction landscape highlights the industry's dedication to attaining economies of scale and promoting a cooperative atmosphere that encourages new developments.

Due to the necessity of strict rules to guarantee passenger safety and the integrity of space activities, regulations have a significant impact on the space tourism industry. Globally, governments are proactively establishing legal frameworks to tackle the distinct obstacles linked to commercial space exploration. For organizations in the space tourism industry, success largely depends on finding the correct balance between protecting the public interest and promoting innovation. It is always difficult for businesses to adjust to changing legislation, so they must continue to be flexible and proactive in their operations.

Given the unique nature of space flight experiences, there aren't many alternatives to services in the space tourism business. Space tourism is a niche product with few direct competitors, despite the possibility of substitutes in the form of typical travel and leisure activities due to its inherent appeal and distinctiveness. With the business growing and becoming more accessible, there is a chance that demand will rise without much competition from other services, making space tourism a unique and sought-after experience for travelers looking for adventures that cannot be found anywhere else on Earth.

The space tourism market has a relatively small end-user concentration, with a varied client base that includes organizations investing in scientific initiatives and promotional operations as well as wealthy individuals seeking special experiences. The market is not unduly dependent on any one consumer category, but businesses nonetheless need to regularly review and modify their offerings in order to meet the changing needs and tastes of a wide range of clients. The significance of market segmentation techniques in efficiently targeting and engaging diverse demographic groups and guaranteeing long-term market growth is highlighted by this moderate degree of concentration.

Type Insights

In terms of type, the market is classified into orbital, suborbital, and others. The sub-orbital segment dominated the overall market, gaining a market share of 49.1% in 2023 and witnessing a CAGR of over 44.3% during 2024 to 2030. Suborbital tourism allows individuals to experience weightlessness and observe space without actually exiting the Earth's orbit. This enables human spaceflight to reach the edge of space without sending the vehicle into orbit.

The orbital and suborbital flights are distinguished based on the vehicle's speed. A suborbital flight is operated at lower speeds than an orbital flight. Hence, these flights do not have sufficient acceleration to reach orbit. These flights fly up to a certain height and descend to the ground when the engines shut down. Companies are focusing more on commencing suborbital flights as they can reuse the rockets, thus saving on their manufacturing costs.

The orbital segment is anticipated to witness the fastest CAGR of 45.7% from 2024 to 2030. Orbital flights can last for a few days or several weeks, depending upon the destination, such as the International Space Station (ISS), the moon, or Mars. Companies, including Virgin Galactic and Blue Origin, primarily focus on launching suborbital flights, whereas SpaceX and Orion Span aims for orbital flights.

For instance, Orion Span, a U.S.-based space travel company, is planning on deploying a private commercial space station that is expected to function as a space hotel. The Aurora Space Station will be placed in Low Earth Orbit (LEO) and will host up to six tourists at once.

End-user Insights

In terms of end-user, the market is classified into government, commercial, and others. Among these, the commercial space tourism market is expected to dominate in 2023, gaining a market share of 57.0%. It is expected to grow at the fastest CAGR of 45.2% during the forecast period 2024 to 2030. In 2021, there were thirteen commercial spaceflight missions undertaken by several private and government organizations, of which seven missions were executed successfully. The potential of this industry is becoming more and more apparent as technical developments open the door for commercial space tourism. Notwithstanding, several obstacles still exist, chief among them the high space tourism cost, which is a crucial aspect that industry participants are striving to tackle to render these cosmic experiences more affordable for a wider range of people.

Billionaires have invested considerable sums in traveling to space and witnessing the Earth from above. Virgin Galactic, Blue Origin, SpaceX, and NASA have undertaken spaceflight missions to transport non-astronaut individuals across space and bring them back to Earth after a certain period. These explorations have achieved several milestones, including the first feature film shot in space and the oldest person to go to space.

Global Space Tourism market share and size, 2023

The government segment is anticipated to grow at a considerable CAGR of 44.6% throughout the forecast period 2024 to 2030. Space agencies and global government organizations have sent astronauts into space, and NASA has opened the ISS for non-astronauts. NASA has entered into a three-way partnership with Axiom and SpaceX to commercialize space tourism in Low Earth Orbit.

In April 2022, NASA, Axiom, and SpaceX launched three civilians and a former NASA astronaut to the ISS in a SpaceX Dragon spacecraft. The week-long travel has cost USD 55 million each, and these individuals have conducted scientific research, outreach, and commercial activities.

Regional Insights

North America led the overall market in 2023, with a market share of 38.9%. The region is equipped with a highly developed infrastructure and owns an extensive research and development base, allowing the region to be the top revenue contributor in the worldwide market during the projected period. A well-established infrastructure has allowed the speedier implementation of modern technologies. The significant presence of small and medium players in North America, which offer components and services to the giants such as SpaceX, Blue Origin, and Virgin Galactic, has also propelled the market growth.

Space Tourism Market Trends, by Region, 2024 - 2030

U.S. Space Tourism Market Trends

The U.S. space tourism market accounted for a revenue share of 83.1% in the North American market in 2023 and is expected to retain its dominance over the forecast period owing to the inclination of high-net-worth individuals towards space tourism and growing technological investments in the region. Further, breakthroughs in space travel technology, including reusable rockets and spacecraft, have lowered costs and increased accessibility to space tourism experiences is anticipated to further bolster the growth of the space tourism market in the U.S.

Europe Space Tourism Market Trends

The space tourism market in Europe is anticipated to grow at a considerate CAGR during the forecast period from 2024 to 2030, owing to advances in aerospace technology, an increase in private sector participation, and government support. For instance, European governments, along with agencies like the European Space Agency (ESA), are increasingly supporting space tourism initiatives. On the other hand, the involvement of private companies like SpaceX, Blue Origin, and Virgin Galactic has injected momentum into the space tourism market. These companies are investing in developing space tourism infrastructure and vehicles, making space travel more feasible and appealing to a broader audience.

Russia space tourism market held the largest revenue share of the European market in 2023 and is mainly driven by factors such as rich space heritage, affordable space tourism options compared to other countries, and extensive space infrastructure and launch capabilities. For instance, Russian space agencies like Roscosmos have the expertise and experience to support space tourism initiatives, including orbital flights to the ISS which can further fuel the growth of the space tourism market in Russia.

The space tourism market in UK is estimated to grow at a significant CAGR from 2024 to 2030. The UK government has been actively supporting the space industry through investments, regulatory reforms, and partnerships with private companies, which is fueling the growth of the market. Furthermore, the U.K.’s robust tourism and hospitality industry can complement the space tourism market in the U.K. by offering pre- and post-flight experiences for space tourists.

Germany space tourism market is expected to grow significantly over the forecast period owing to huge research & development initiatives in space exploration and tourism. Germany fosters collaboration between government agencies, research institutions, and private companies to drive innovation and investment in the space tourism sector.

Asia Pacific Space Tourism Market Trends

The space tourism market in Asia-Pacific is expected to increase substantially by the forecast period and grow at a CAGR of 45.1% from 2024 to 2030. Governments in the Asia Pacific region, such as China, India, and Japan, have been actively investing in space exploration and tourism initiatives. Significant contributors to the growth of the Asia-Pacific market include the China National Space Administration (CNSA), the Indian Space Research Organization (ISRO), and the Japan Aerospace Exploration Agency (JAXA). Further, there is a rising interest in space exploration and tourism across the Asia Pacific region. As economies grow and disposable incomes increase, more individuals are seeking novel and adventurous experiences, including space travel. This growing demand for space tourism presents opportunities for businesses and entrepreneurs to enter the market and innovate.

China space tourism market held the largest share of the Asia Pacific market in 2023 and is also anticipated to grow at a significant CAGR from 2024 to 2030. China has made significant strides in space exploration with its ambitious lunar exploration program, Chang'e, and its development of the Tiangong space station. These efforts not only showcase China's technological capabilities but also lay the groundwork for future space tourism ventures. Furthermore, CAS Space, a Chinese Academy of Sciences (CAS) spinoff, has been developing rockets for commercial satellite launches. The company aimed to launch a demo flight in 2022, a full suborbital flight in 2023, and tourists in space by 2024. As per a survey conducted by the Chinese University of Hong Kong, young Chinese respondents have expressed more substantial interest in space tourism and space hotels when compared to American respondents. The Chinese respondents were willing to spend USD 1.6 million for a round trip to Earth, whereas the American respondents were willing to pay USD 0.9 million for the same.

The space tourism market in India is expected to grow significantly owing to rising government initiatives, investments, and support in space-related activities. Further, there is a growing interest in space exploration and tourism among the Indian population. With the expanding economy and rising disposable incomes, an increasing number of individuals are seeking distinctive and adventurous experiences, including space travel, thereby fueling the growth of the space tourism market in India.

Japan space tourism market is expected to grow at the fastest CAGR from 2024 to 2030. Japan's JAXA (Japan Aerospace Exploration Agency) has been involved in international space projects and collaborations. Japan's advancements in robotics and space technology position it as a key player in the space tourism market in the Asia Pacific.

Middle East & Africa Space Tourism Market Trends

The Middle East and Africa region is witnessing gradual growth in the space tourism market, driven by several key factors, including ambitious space programs and infrastructural enhancements by the development of spaceports. Additionally, countries in the Middle East & Africa are forging strategic partnerships and collaborations with leading space agencies and private companies to accelerate their space programs and develop space tourism capabilities. In the Middle East, countries such as UAE and Saudi Arabia have emerged as significant countries in the space tourism sector. Further, in Africa, country such as South Africa, is demonstrating increasing interest and involvement in space-related activities. The countries within the Africa region recognize the economic potential of space tourism and are taking steps to develop their space industries accordingly.

The space tourism market in UAE is expected to grow significantly over the forecast years. There is a growing interest in space tourism among governments, businesses, and individuals in the UAE region. The country’s wealthy individuals, along with government-backed space initiatives, represent a lucrative market for space tourism experiences.

Key Space Tourism Company Insights

Some of the key companies operating in the space tourism market include Virgin Galactic and SpaceX among others.

  • Virgin Galactic is a pioneering spaceflight company that aims to make commercial space travel a reality. Operating as a part of the broader Virgin Group, the company is looking forward to opening space travel to everyone. The company's primary focus is on facilitating space tourism by conducting suborbital flights. VSS Unity, the company's flagship vehicle, is a spaceplane designed to provide a unique and transformative experience to passengers by carrying them to the edge of space. In terms of technology, Virgin Galactic has developed a unique air-launched system, whereby VSS Unity is carried aloft by a carrier aircraft called WhiteKnightTwo and released at high altitudes.

  • SpaceX is rapidly expanding its market share within the thriving space tourism industry through innovative strategies and technological advancements. Through its innovative spacecraft, including the Crew Dragon, SpaceX has successfully demonstrated the capability to transport astronauts to and from the International Space Station, setting a strong foundation for its foray into the space tourism market. SpaceX's reusable rocket technology, exemplified by the Falcon 9 and Falcon Heavy launch vehicles, provides a cost-effective and sustainable approach to space travel, opening new possibilities for commercial space tourism ventures. The company's commitment to safety, reliability, and cutting-edge engineering positions it as a trusted partner for space tourism operators and adventurous individuals seeking extraordinary experiences beyond Earth's boundaries.

Blue Origin and Axiom Space are some of the emerging companies in the space tourism market.

  • Blue Origin is making significant strides to expand its market share in the burgeoning space tourism market through a strategic and customer-centric approach. Through its New Shepard spacecraft, Blue Origin offers an extraordinary journey into space, providing individuals with a remarkable and unforgettable experience. Blue Origin has established itself as a trusted and sought-after provider of space tourism services as it prioritizes safety, reliability, and exceptional passenger comfort. The company's focus on reusable rocket technology, exemplified by the New Shepard's vertical landing capabilities, ensures a sustainable and cost-effective approach to space travel. Through strategic partnerships and collaborations, Blue Origin is expanding its network and gaining wider access to potential customers.

  • Axiom Space is a private aerospace company specializing in commercial spaceflight and space station development. The company offers various programs for both individuals and organizations to experience space travel. Through a partnership with SpaceX, the company plans to launch individuals to the ISS on short-duration missions and provide them with an opportunity to live and work in microgravity.

Key Space Tourism Companies:

The following are the leading companies in the space tourism market. These companies collectively hold the largest market share and dictate industry trends.

  • Blue Origin
  • Virgin Galactic
  • SpaceX
  • Airbus
  • Boeing
  • Zero Gravity Corporation
  • Axiom Space
  • Rocket Lab USA
  • Space Adventures
  • Space Perspective
  • World View Enterprises, Inc.
  • Zero 2 Infinity

Recent Developments

  • In June 2023, Virgin Galactic announced the commencement of the company’s commercial space line operations. The inaugural commercial spaceflight, 'Galactic 01', was scheduled between June 27, 2023, and June 30, 2023, with the second commercial spaceflight, 'Galactic 02', scheduled for early August 2023. Plans envisaged the company conducting monthly spaceflights as part of its commercial operations.

  • In May 2023, Blue Origin announced a Sustaining Lunar Development contract under NextSTEP-2 Appendix P from NASA. As part of the contract, Blue Origin would be responsible for developing and flying a lunar lander capable of executing precise landings on any location on the lunar surface and developing a cislunar transporter.

  • In April 2023, Axiom Space introduced the Axiom Space Access Program, an initiative that allows countries to realize the long-term economic and scientific value microgravity can potentially offer. The program revolutionizes the conventional approach by eliminating the need for nations to invest in building or expanding the infrastructure, including launch vehicles, on-orbit facilities, training or medical programs, and support capabilities.

  • In November 2022, World View Enterprises, Inc. and Sierra Nevada Corporation (SNC) entered into a strategic agreement to establish and operate uncrewed platforms for Intelligence, Surveillance, and Reconnaissance (ISR) missions and stratospheric communications.

  • In November 2022, Axiom Space partnered with Virgin Galactic to facilitate a mission dedicated to microgravity research and training. As part of the partnership, Axiom Space and Virgin Galactic would leverage their respective expertise and resources to execute the mission, foster advancements in scientific knowledge, and offer valuable training experiences in the realm of microgravity.

  • In May 2022, Boeing announced the successful end-to-end uncrewed orbital flight test that demonstrated the quality and performance of the CST-100 Starliner spacecraft before it can take crewed flights. The announcement came after the CST-100 Starliner spacecraft successfully landed at the U.S. Army's White Sands Missile Range in the U.S. state of New Mexico.

Space Tourism Market Report Scope

Report Attribute


Market size value in 2024

USD 1,048.6 million

Revenue forecast in 2030

USD 9,669.5 million

Growth Rate

CAGR of 44.8% from 2024 to 2030

Actual Data

2017 - 2023

Forecast period

2024 - 2030

Quantitative units

Revenue in USD million and CAGR from 2024 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Type, end-user, region

Regional scope

North America; Europe; Asia Pacific; South America; MEA

Country scope

U.S.; Canada; UK; Germany; Russia; Japan; China; India; Brazil

Key companies profiled

Blue Origin; Virgin Galactic; SpaceX; Airbus; Boeing; Zero Gravity Corporation; Axiom Space; Rocket Lab USA; Space Adventures; Space Perspective; World View Enterprises, Inc.; Zero 2 Infinity

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

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Global Space Tourism Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global space tourism market report based on type, end-user, and region:

Global Space Tourism Market Report Segmentation

  • Type Outlook (Revenue, USD Million; 2017 - 2030)

    • Orbital

    • Sub-orbital

    • Others

  • End-user Outlook (Revenue, USD Million; 2017 - 2030)

    • Government

    • Commercial

    • Others

  • Regional Outlook (Revenue, USD Million; 2017 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • UK

      • Russia

    • Asia-Pacific

      • China

      • India

      • Japan

    • Latin America

      • Brazil

    • Middle East & Africa

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