Sales in space tourism set to reach $13 Billion USD by 2033
Space tourism industry is a growing market with innovations and technological advancements. Several prominent companies such as SpaceX are introducing reusable rocket technology. This is making the space flights accessible and more affordable for humans.
With the launch of commercial suborbital travels, there is going to be a subsequent change in the experiences that these travels will offer in the future.
There are speculations however, that high net income people or private researchers will get direct access to space tourism in the upcoming future but it brings certain limitations when it comes to ordinary citizens.
According to DUBAI, United Arab Emirates, (GLOBE NEWSWIRE) — As per Future Market Insights (FMI), the global space tourism market is set to reach $678.3 million USD in 2023.
Sales in space tourism are likely to increase at 38.6% CAGR between 2023 and 2033. Total market valuation is forecast to reach $13,239.5 million USD by 2033.
On June 7, 2019, NASA announced that starting in 2020, the organization aims to start allowing private astronauts to go on the International Space Station, with the use of the SpaceX Dragon spacecraft and the Boeing Starliner spacecraft for public astronauts, which is planned to be priced at $35,000 USD per day for one astronaut, and an estimated $50 million for the ride there and back.
What does a Space Hotel actually look like?
The new space stations will take on the shape of a Ferris wheel, spinning to simulate gravity in their pods. Though they may look unusual compared to hotels on Earth, the rooms and amenities aboard each station will be largely familiar to regular travelers.
On Voyager Station, there will be luxurious accommodations for up to 400 guests, including villas available for purchase as vacation homes as well as themed restaurants, concert venues, bars and lounges with views of the Earth, gyms, and health spas. In essence, it’s your standard high-end resort, just in space.
Due to the presence of gravity on the station, guests will be able to do regular activities — eat and drink or sleep — without having to worry about spills or floating, unlike on current space stations.
“For the average person, being in space will be a sci-fi dream experience,” said Orbital Assembly’s chief operating officer Tim Alatorre in a recent press release “Our vision is to make space a destination people will yearn to visit, with familiar elements provided by the presence of gravity.”
Currently, Space travel is only available to those who can spend an average of $250,000 to $500,000 USD for suborbital trips (about a fifteen-minute ride to the edge of space and back) or flights to actual orbit at more than $50 million per seat USD, though typically a longer trip than 15 minutes.
The editorial team @SearchHoww.com are astonished how fast the space tourism market has grown the decade. We are closely watching SpaceX and upcoming Falcon 9 Rocket Launch, as this will provide internet access to space hotels via Starlink.
Congratulations to SpaceX for their heroic efforts to advance the space tourism market.