HomeNewsSpace Tourism Expected to be $4bn Industry by 2030

Space Tourism Expected to be $4bn Industry by 2030

The space tourism industry is expected to be worth $4bn by 2030 – just 8 years’ time – Finance News has reported.

Such a valuation would represent a huge leap from its current estimated valuation of just under $600m.

The space tourism market is expected, by some, to grow by around 37% per annum between this year and 2030.

Supply chain constraints and Covid-related travel restrictions have hampered the growth of space travel, as with many other sectors. However, cost remains one of the obvious hurdles to mass market uptake – with the Richard Branson-founded Virgin Galactic pricing its cheaper flights at $450,000.

Still, the number of operators is growing. The likes of Virgin Galactic; Elon Musk’s SpaceX; Amazon founder Jeff Bezos’ Blue Origin, and Boeing remain the best-known.

SpaceX headquarters in Los Angeles.

Research suggests a huge breakthrough for the sector will be the production of reusable vehicles, which should lower the costs of space travel and boost demand.

Geoff Percival
Geoff Percival
I have worked in journalism for more than 25 years. I am joining ITTN from The Irish Examiner, having worked there for the past 16 years as a senior business reporter. I have also contributed to, and written for, the likes of Business & Finance, Business Plus, The Sunday Times, The Irish News, Senior Times, and The Sunday Tribune, amongst others titles.

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