From GlobeNewswire: 2024-07-26 15:00:00

The Global Space Tourism Market is set to grow from USD 881.56 million in 2023 to USD 35108.7 million by 2033, with a CAGR of 44.55%. Space tourism allows for pleasure or adventure travel into space, and companies like SpaceX, Virgin Galactic, and Blue Origin are offering commercial space travel services. Suborbital flights offer a more affordable and accessible option compared to orbital flights. Despite the rapid growth of the industry, satellite debris remains a concerning issue.

The sub-orbital segment is expected to dominate the space tourism market during the forecast period, allowing individuals to experience weightlessness and observe space without entering orbit. The commercial segment is projected to grow at the fastest CAGR, with North America holding the largest market share due to its advanced infrastructure and strong research base. Europe is expected to experience the fastest CAGR growth in the space tourism market.

Major players in the global space tourism market include SpaceX, Blue Origin, Boeing, and more. Recent developments include Blue Origin demonstrating the operational capabilities of their Blue Ring spacecraft, aiming to enhance human space exploration. The market is segmented by type, end-user, and region, with North America and Europe expected to lead in market share and growth respectively. For more industry insights and market analysis, visit the link provided in the article.



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