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What is Space Tourism?
Space tourism refers to self-funded human space flight for personal or recreational purposes. These can be sub-orbital, orbital, Lunar, or Mars tourism flights.
Space Tourism - The Pinnacle of Luxury whitepaper covers the nascent space tourism industry which is limelight currently due to involvement of billionaires Sir Richard Branson, Jeff Bezos and Elon Musk and their space tourism companies Virgin Galactic, Blue Origin and SpaceX.
Authored By- Ambarish Kumar Verma
Founder - 麻豆原创ResearchReports.com
Author of
Space Tourism - A Long Standing Dream
From time immemorial, humans have looked above and seen stars and planets and dreamt of being among them someday. Space and objects in space had fascinated all civilizations and been part of their rituals and daily life.
As of 09th July, 2021, a total of 570 people from 41 countries have gone into space according to the FAI criterion, which considers only flights above 100 km (Karman Line). Of those 570, 03 people achieved a sub-orbital flight, 567 people orbited the Earth, 24 travelled beyond low Earth orbit, and 12 people have walked on the Moon.
With the advent of modern technology and the emergence of private space launch companies like SpaceX led by Elon Musk, Blue Origin by Jeff Bezos and Virgin Galactic by Sir Richard Branson, we are entering a new phase of space exploration and tourism where more people will be able to access space.
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How does Space Tourism Work?
Space tourism is different from traditional tourism & travel. It requires someone with deep pockets to afford the overall cost of travel along with good physical and mental fitness levels.
The aspiring space tourists also need to undergo a vigorous training regime to prepare them for space travel, especially for orbital and beyond space travel.
Then they need to wait for optimal launch window to launch to space and, depending upon the type of transportation used, land back on Earth in space capsules on land (like Blue Origin鈥檚 New Shepard Crew Capsule) or water (like SpaceX鈥檚 Crew Dragon) or land on a runway gliding back to Earth (like Virgin Galactic鈥檚 VSS Unity).
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What is the Future of Space Tourism?
Space tourism is the future of luxury tourism and can also be termed as the pinnacle luxury travel & tourism. Currently, there are 5,21,653 UHNWIs (ultra-high net worth individuals) globally with USD 30 million of more net worth who can be ideal target customers for space tourism. As per the Wealth Report 2021 by Knight Frank, the overall number of UHNWIs is expected to grow at a 27% CAGR and reach 6,63,483 by 2025.
The ultra-rich people seeking something new and different to experience can be drawn to space tourism which is a luxury very few can afford currently.
These early adopters will facilitate bringing the overall cost of space travel down, allowing more and more people to access space.
In the end, we all humans will have a chance to experience space, fulfilling the dream of our forefathers.
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