FREMONT, Calif., July 6, 2021 /PRNewswire/ -- The global sub-orbital transportation and space tourism market isprojected to reach $2.58 billion by 2031, reveals the premium market intelligence study by BIS Research. The study also highlights that the market is set to witness a CAGR of 17.15% during the period 2021-2031.
Sub-orbital spaceflight can be referred to as when a spacecraft's trajectory touches the surface of the gravitating body from where it is launched, which is an altitude higher than 100 km above sea level. Sub-orbital transportation not only includes using spacecraft for microgravity 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.
USP of the Market Intelligence Report
A dedicated section focusing on investment scenario
Coverage of current and emerging spaceports, along with the number of sub-orbital launches
Cross-segmentation of flight vehicle types and end user on the basis of application
Qualitative analysis of potential utilization of airports
According to Nilopal Ojha, Lead Analyst, BIS Research, "With the growing technological innovations and developments for space transportation and the growing interest of the public to have a view of space and experience weightlessness, it is expected that sub-orbital transportation and space tourism market will grow significantly during the forecast period."
Key Companies Operating in the Market
The key 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 s.r.o., OneSpace, Equatorial Space Systems, Black Sky Aerospace, and Space Perspective.
The companies profiled in the report have been selected post undergoing in-depth interviews with experts and understanding details around companies such as product portfolio, annual revenues, market penetration, research and development initiatives, and domestic and international presence in the space industry.
Market Segmentation of Sub-Orbital Transportation and Space Tourism Market
Flight Vehicle Types: The sub-orbital transportation and space tourism market has been segmented based on various flight vehicle types, including sub-orbital reusable vehicles, high-altitude balloons, and parabolic aircraft. The sub-orbital reusable vehicles segment is expected to lead the sub-orbital transportation and space tourism market. The growth of this segment is attributed to the growing number of emerging companies involved in developing such reusable vehicles that will carry out sub-orbital transportation.
End User: The sub-orbital transportation and space tourism market has been segmented based on end users: commercial, military, and government. The government end-user segment is anticipated to dominate the sub-orbital transportation and space tourism market. 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.
Region: The sub-orbital transportation and space tourism market has been segmented based on region: North America, Europe, Asia-Pacific, and Rest-of-the-World. North America is expected to dominate the global sub-orbital transportation and space tourism market during the forecast period. The number of growing successful demonstrations and test flights carried out by key 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 this, these successful demonstrations have proven the viability of these systems and may push these companies to commercialize their product offerings. Additionally, several spaceports, such as the West Texas Launch Site and Spaceport America launch site, which support sub-orbital spaceflights, are also expected to boost the sub-orbital transportation and space tourism operations, which in turn will drive the market growth.
How can market intelligence on the sub-orbital transportation and space tourism market add value to your organization's decision-making process?
Product/Innovation Strategy: The product section will help the reader understand the different types of flight vehicles used for sub-orbital transportation and space tourism. It will also help the readers understand the different platforms' market potential globally. The players operating in this market are developing innovative offerings and are highly focused on testing as well as demonstrating their platform capabilities. Moreover, the study also looks into the investment scenario as well as the emerging spaceports that will enable sub-orbital transportation and space tourism.
Growth/Marketing Strategy: The players operating in the global sub-orbital transportation and space tourism market are engaged in several strategies, including strategic partnerships, contracts, and business expansion. The growth/marketing strategies will help the readers in understanding the revenue-generating strategies adopted by the players operating in the global sub-orbital transportation and space tourism market.
Competitive Strategy: Players analyzed and profiled in the study involve original equipment manufacturers (OEMs) or platform manufacturers. These companies capture maximum share in the global sub-orbital transportation and space tourism market. Moreover, a detailed competitive benchmarking of the players operating in the global sub-orbital transportation and space tourism market has been carried out, which will help the reader to understand how players are performing against each other, exhibiting a clear market landscape. In addition to this, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Key Questions Answered in the Report
What are the underlying structures resulting in the emerging trends within the sub-orbital transportation and space tourism market?
What are the potential opportunities in the market for new OEMs and other players to enter?
What are the driving factors attributing to the growth of the sub-orbital transportation and space tourism market, and what are the challenging factors?
Which application and end user are expected to lead the sub-orbital transportation and space tourism market by 2031?
What was the market value of the regions in the sub-orbital transportation and space tourism market in 2020, and how is the market estimated to grow during the forecast period 2021-2031?
What is the investment scenario in the sub-orbital transportation and space tourism market?
How is the industry expected to evolve during the forecast period 2021-2031?
What are the key developmental strategies that are implemented by the key players to sustain the competitive market?
BIS Research , a premium market intelligence company, offers in-depth insights and consulting to Fortune 500 companies. We are established and known for tracking the growth of deep technologies across key industry verticals and the subsequent challenges and opportunities associated with deep tech across markets, applications, and products.
With more than 1,000 clients, over 10,000 plus primary interviews, and approximately 200 reports published in a year, BIS Research has often been sighted for its ability to track emerging tech trends early on. We provide market estimations, analysis on emerging high-growth applications, technology analysis, highly segmented granular country-level market data, and other important market parameters that come in handy for our clients during strategic decision-making.