Space Tourism Market To Grow at a CAGR of +14% by 2022 |Know about industry Trends, Opportunities, Size, Share, Strategies, growth and Analysis

Space tourism is defined as space travel for leisure, recreation, and business purposes. Space tourism is likely to be an emerging trend owing to the increased expenditure on travel and tourism globally. Adventure tourism involves a higher degree of risk and it is high in demand for the enthusiasts towards space tourism. Reduction in the cost of expenditure of space tourism is likely to gain traction for the space tourism market over the forecast period. Space tourism is an emerging concept wherein an optimal spaceflight is developed that will facilitate passengers to travel to outer space, Mars and the Moon.

The global space tourism market to grow at a CAGR of +14% during the period 2017-2021

The prospect and scope of space tourism is likely to drive the growth of next generation engineers. Prospect of hypersonic travel is likely to fuel the demand for space tourism over the forecast period. The reduced cost of infrastructure to launch nano-satellites in the solar system is likely to create more market opportunities for the space tourism market over the forecast period. Research and development to develop orbital space tourism is likely to fuel the growth of the space tourism market over the forecast period.

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Top Key Vendors:
Bigelow Aerospace, SpaceX, Virgin Galactic, XCOR Aerospace, Armadillo Aerospace, Boeing, EADS Astrium, Excalibur Almaz, Space Adventures, Space Island Group, Zero2infinity

One of the latest trends that will gain traction in the space tourism market in the coming years is the decrease in the cost of space tourism. The cost of getting into space will decline rapidly if the next generation of space planes can reach the orbit. This will considerably reduce the cost of launching satellites or space exploration missions, making it an economically feasible option for a larger customer segment. Additionally, the reduced cost can also enable vendors to launch multiple nanosatellites in the solar system.

Further, the space tourism market report states that one challenge in the market is high risk involved. One of the major factors that will hinder the growth of space tourism is the high risk associated with the tour. The addressable market has enough income to experience tours such as mountain climbing or skydiving. However, the preference for an adventure also depends on the availability of the activity, physical fitness, and risks associated with it, apart from affordability, which is not an issue among the addressable market.

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Table Of Content:
Chapter 1 Space Tourism Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Production, Revenue (Value) by Region
Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Global Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Market Analysis by Application
Chapter 8 Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis

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