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.
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.
