The global sub-orbital transportation and space tourism market size reached USD 423.7 million in 2020 and is expected to register a revenue CAGR of 16.8%, during the forecast period, according to latest analysis by Emergen Research. Some of the major factors driving global sub-orbital transportation and space tourism market revenue growth include increased focus on space explorations and private initiatives to facilitate space transportation. Increasing focus on launching high-altitude balloons for space tourism, as well as astronomy among a number of enthusiasts is expected to propel revenue growth of the global sub-orbital transportation and space tourism market between 2021 and 2028.
High-altitude balloons sent into the stratosphere could achieve a nominal height of 30 kilometers and are often loaded with hydrogen and helium. Balloons are categorized depending on desired use such as research balloons and weather balloons. Research balloons are used for a wide range of purposes, including Earth observation, monitoring, and communications. Weather balloons are being used for forecasts, disaster alerts, and other related applications. Commercial applications of high-altitude balloons, include space exploration and astronomy, which is expected to boost market growth in the near future.
The Global Sub-orbital Transportation and Space Tourism Market report offers a comprehensive analysis of the Sub-orbital Transportation and Space Tourism market with regards to the current and emerging trends, regional outlook, competitive landscape, and forecast estimation for revenue and market share. The report is an all-inclusive document providing important details focusing on growth statistics, estimation of revenue shares and growth, market valuation, and also emphasizes the competitive landscape, business opportunities, and strategic alliances and approaches undertaken by the dominant industry players.
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The report aims to provide a determining analysis of the market competition to help the user make a pivotal business analysis. The complete portfolios of the key companies, including their production capacity, revenue share and size, gross margin, sales revenue and margin, growth rate, along with their business strategies and technological developments, have been discussed in the report. The companies operating in the market and profiled in the report include
Near Space Corporation, Blue Origin, LLC, Exos Aerospace Systems & Technologies, Inc., Aerostar International, Inc., Space Exploration Technologies Corp. (SpaceX), UP Aerospace, Inc., PD AeroSpace, LTD., Space Perspective Inc., Zero 2 Infinity SL, and Virgin Galactic Holdings Inc.
Some Key Highlights From the Report
- Sub-orbital reusable vehicles segment is expected to expand at a substantially rapid revenue CAGR during the forecast period due to increasing demand for such vehicles for sub-orbital transportation and space tourism. Rocket-powered vehicles are known as sub-orbital reusable vehicles. Launching profiles of such vehicles vary from vertical takeoff and landings and horizontal launched wings vehicles.
- Cargo delivery segment is expected to register a significantly steady revenue growth rate over the forecast period as it is considered the primary goal of space transportation.
- North America is expected to register a larger revenue growth rate in the sub-orbital transportation and space tourism market over the forecast period due to robust presence of major market players, including Blue Origin, LLC, Space Exploration Technologies Corp., and Virgin Galactic Holdings Inc., among others in developed countries in the region.
The research study also focuses on a comprehensive analysis of market trends, driving factors and constraints affecting the market growth, and opportunities for business development and expansion.
The report further discusses in detail the market segmentation based on types and applications.
Emergen Research has segmented global sub-orbital transportation and space tourism on the basis of vehicle, application, end-use, and region:
- Vehicle Outlook (Revenue, USD Million; 2018–2028)
- High-Altitude Balloons
- Sub-Orbital Reusable Vehicles
- Parabolic Flights
- Application Outlook (Revenue, USD Million; 2018–2028)
- Space Tourism
- Cargo Delivery
- Satellite Deployment
- Remote Sensing & Earth Observation
- End-Use Outlook (Revenue, USD Million; 2018–2028)
- Aerospace & Defense
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The research study on the global Sub-orbital Transportation and Space Tourism market provides a complete detail-oriented assessment of this market and provides an accurate evaluation of market tendencies such as revenue estimations and shares, current market value, future market valuation, and market size over the forecast years. The report focuses on the evaluation of the given market in major regions and the countries included in those regions. The report provides details of the market considering the geographical landscape that includes North America, Latin America, Asia Pacific, Europe, and Middle East & Africa.
Major benefits of the Sub-orbital Transportation and Space Tourism report:
- The report discusses in detail the changing dynamics of the competitive landscape
- The report provides detail-oriented futuristic prospects of factors driving the growth of the market and limitations affecting the market growth
- The report gives a comprehensive analysis of the changing dynamics of the market owing to the current scenario
- The report encompasses a detailed forecast for the years 2021-2028
- The report provides valuable insights on key market growth driving trends and monetary competence in the forecast timeline
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The report also provides a detailed analysis of consumption and market value depending on each geographical region. The report aims to provide beneficial information that might help in formulating new business strategies and expansion plans. SWOT analysis is also offered in this report. Research findings and conclusions are offered through detailed graphs, tables, charts, and figures.
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