Space traveling is the next big industry that is waiting to literally take off. Civilian space travelling is expected to start this year. This segment has great potential to take the global economy to newer heights.
The global space tourism sector is projected to grow to $5.16 billion between 2021 and 2025 with a year on year growth rate of 14%-15%.
Dennis Tito was the first civilian to enjoy a trip to the international space station in 2001. It cost him nearly $20 million back then.
SPACE TRAVEL ADVENTURES HAPPENING SOON
AXIOM SPACE
Axiom Space is a space tourism company that has reportedly charged $55 million for a trip to space along with a eight day stay in the International Space Station where the beneficiaries will work on charitable and philanthropic projects as well as research.
The astronaut customers are going to board a SpaceX’s Crew Dragon capsule for this journey which would last for at least two days.
VIRGIN GALACTIC
Sir Richard Branson’s space corporation Virgin Galactic Holdings received permits from the Federal Aviation Administration (FAA) this year to fly people to space.
The duration of their suborbital flight trips are roughly 90 minutes and a seat on this flight costs around $250,000. The company even reported that they have already made more than 600 reservations for this trip.
The company also completed its first ever human spaceflight test and passed with flying colors. “Today’s flight showcased the inherent elegance and safety of our spaceflight system, while marking a major step forward for both Virgin Galactic and human spaceflight in New Mexico,” CEO Michael Colglazier said.
BLUE ORIGIN
Blue Origin is owned by Jeff Bezos and is said to have its first ever space flight trip with a crew on July 20, 2021 on a six seater New Shepherd Vehicle. One of the seats on this vehicle was auctioned with a base price of $2.6 million.
At least 15 uncrewed suborbital test flights have been conducted by New Shepherd already. The rocket and capsule both are reusable. The rocket flies back down.
Space X
Elon Musk owned Space X has several space tourism deals underway. One of them is with Axiom Space and the other is with Space Adventure.
The deal with Space Adventure is to take a trip to space through the earth’s orbit perspective and not to the International Space Station unlike the Axion Space deal.
The Crew Dragon spacecraft along with Falcon 9 rocket is supposedly being used for this mission named “Inspiration4” that will take place in the month of September this year.
If all these commercial space travel events go as planned then it would be a revolutionary movement, a turning point for this industry that will change space travel forever and take it into further heights by giving people an opportunity to travel to the edge of earth.