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HomeTravel NewsSpace 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
Geoff has worked in business, news, consumer and travel journalism for more than 25 years; having worked for and contributed to the likes of The Irish Examiner, Business & Finance, Business Plus, The Sunday Times, The Irish News, Senior Times, and The Sunday Tribune.

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