space tourism case study

Space Tourism – An Analysis of Space Tourism’s Place in the Space Economy, Patents, Key Players, Space Hotels, Main Source Markets, Challenges and Opportunities

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Published: February 09, 2022 Report Code: GDTT0387MI-TH

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2021 marked a significant year for space tourism as new entrants announced their arrival. Within the same month, Richard Branson’s Virgin Galactic and Jeff Bezos’s Blue Origin successfully completed suborbital flights, with both billionaires being participants on these voyages to boost trust among potential customers. A few months later, Elon Musk’s SpaceX launched its all-civilian Inspiration4 mission. Its Dragon craft would orbit Earth for three days before splashing down in the ocean.

2021 was a memorable milestone for the sector as the space race heated up. 2022 looks set to be another busy year for space tourism as Axiom Space joins the competition with its first scheduled flight planned for early this year. The space tourism case study looks at the fledgling space tourism sector. It discusses space tourism’s place in the space economy, patents being published by space tourism companies, the key players, planned space hotels, and the main source markets that companies should be targeting. Finally, the case study considers the challenges and opportunities in this highly innovative sector.

What are the market dynamics in the space tourism market?

The space economy has previously been restricted to satellites and their sub-systems but the willingness of high-net-worth individuals and progressive companies to explore beyond Earth has allowed tourism to enter this fledgling economy. The future space economy will consist of satellites, space debris, space mining, space exploration, space tourism, and space infrastructure manufacturing. Also, high-profile commercial flights have led some to dub the current phase of the space economy the “billionaire space race.” The launch of Richard Branson and Jeff Bezos on their respective Virgin Galactic and Blue Origin missions highlighted the potential for space tourism. However, the scrapping of Space Adventures’ Crew Dragon mission demonstrated that price, timing, and the experience currently offered needs to be constantly evaluated.

Although space tourism will be restricted to the few, new actors can be expected to enter the market offering lower-cost alternatives. Space Perspective’s stratospheric ballooning offering is one such example. Until leading companies such as SpaceX, Virgin Galactic and Blue Origin can scale their technology to make it accessible to non-millionaires, these companies will have a minute target market of roughly one percent of the global population.

Which are the main source markets for space tourism?

The US, China, Japan, the UK, India, Germany, Canada, France, Hong Kong, and Australia are the main source markets for space tourism.

The US will be the most important source market for space tourism companies. All players in the space tourism sector needs to be targeting the US source market when promoting their expeditions and hotels, as campaigns are likely to have the biggest impact when aimed at this market.

China and Japan have the second and third highest number of high-net and ultra-high-net-worth individuals, making these source markets viable options for space tourism companies. The wealthiest citizens of Japan may have an appetite for space travel, as already seen in 2021. Japanese billionaire Yusaku Maezawa returned to Earth after a 12-day journey to the ISS in December 2021, which marked the end of a practice run for his planned trip around the moon with SpaceX in 2023.

Space tourism market, by source markets

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What are the latest patents in the space tourism market?

The two of the latest patents in the space tourism market are near-space operation systems and pod for space or near-space flights

Near-space operation systems

This invention provides a system for high altitude and near-space operations. More particularly, this invention relates to providing a system enabling safe manned and unmanned operations at extremely high altitudes (above about 70,000 feet), which in theory would enable stratospheric visits using lighter-than-air vehicles. There is increasing interest in technologies enabling high altitude and near space access for tourism, research, education and other scientific and commercial pursuits. As the introduction of the airplane, the computer, and the internet proved, making new regions of our planet accessible can bring about revolutionary scientific, social, and economic advances.

Pod for space or near-space flights

A pod for flights to and/or from space or near-space, including a pressurized body for hosting passengers, the pressurized body having a substantially ring-like shape provided around a central axis and having a central opening, wherein the pressurized body includes one or more windows. There is a need to develop spacecraft or space vessels that have the potential to make space tourism more affordable. There is also a need to make space tourism more comfortable and a more enjoyable experience. And there is also a need to make space tourism less contaminating.

Which are the key players in the space tourism market?

World View, Space Perspective, Virgin Galactic, Blue Origin, Axiom Space, Zero 2 Infinity, Boeing, and Orbital Assembly Corporation are the key players in the space tourism market.

Space tourism market, by key players

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Market report scope

Reasons to buy.

• Gain an understanding of the space tourism sector.
• Recognise the range of different companies that will be battling for market share.
• Gain an understanding of the opportunities and challenges in space tourism.

Frequently asked questions

The US, China, Japan, the UK, India, Germany, Canada, France, Hong Kong, and Australia are the main source markets in the space tourism market.

The two of the latest patents in the space tourism market are near-space operation systems and pod for space or near-space flights.

The space hotels to be launched in the space tourism market are Orbital Assembly Corporation’s luxury hotel Voyager Station and Axiom Space’s commercial space station project AxStation.

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Space Tourism - Case Study

• February 2022
• Region: Global
• ID: 5560057
• Description

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• Companies Mentioned

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Key Highlights

• Until leading companies such as SpaceX, Virgin Galactic and Blue Origin can scale their technology to make it accessible to non-millionaires, these companies will have a minute target market of roughly one percent of the global population. When considering that many high-net-worth individuals will find the idea of space travel too alienating, this small percentage decreases even further. This means that there could be a lack of demand beyond the short-term.
• The Ax-1 mission marks the start of truly authentic experiences for space tourists. As noted in the publisher’s Premiumization in Travel and Tourism Report (2022), companies that only target high-net-worth individuals need to integrate authenticity into all elements of a trip, and encourage participation in their offerings. If these aspects are met, guests will be more likely to leave with their needs fulfilled. This experience with Axiom certainly meets this criteria. Everything from spending time with professional astronauts onboard the ISS, to undertaking research makes for a truly realistic experience of what it must be like to be a professional astronaut.
• Due to how new the space tourism sector is, and the fact it is constantly evolving, regulation is lacking, from passenger safety to environmental pollution. It could take many years for regulators to develop policies to make trips to the edge of space as safe as possible for paying customers. The Federal Aviation Administration does have the authority to regulate commercial space travel through its Office of Commercial Space Transportation, but Congress has imposed a moratorium through 2023 on regulating the fledgling sector.

Reasons to Buy

• Gain an understanding of the space tourism sector.
• Recognise the range of different companies that will be battling for market share.
• Gain an understanding of the opportunities and challenges in space tourism.
• Main findings
• Space tourism’s place in the space economy
• Key players with pricing below $500,000
• Key players with pricing above $50 million
• Space hotels
• Main source markets
• Challenges for space tourism
• Opportunities for space tourism

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

• Space Perspective
• Virgin Galactic
• Blue Origin
• Axiom Space
• Zero 2 Infinity
• Orbital Assembly Corporation
• Adventure Tourism
• Commercial Aerospace
• Travel And Tourism

Sub-Orbital Transportation and Space Tourism Market by Flight Vehicle Type, Application, End User, and Region 2024-2032

•  Report

Parabolic Flight Tourism Global Market Report 2024

• January 2024

Global Space Tourism Market by Product (Aircraft Replacement Flights, Atmospheric Zero-Gravity Flights, High Altitude Jet Fighter Flights), Type (Orbital, Suborbital), Destination, Customer, Service Provider - Forecast 2024-2030

Global Sub-Orbital Space Tourism Market by Flight Vehicle Type (High-altitude Balloon, Parabolic Aircraft, Suborbital Reusable Vehicles), End-use (Commercial, Government) - Forecast 2024-2030

Space Tourism - Global Strategic Business Report

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Please note you do not have access to teaching notes, space tourism: an industry with a future.

Publication date: 14 March 2024

Teaching notes

Research methodology.

The case is derived from secondary sources, including publicly available reports and information about all companies directly or indirectly engaged in the industry. No primary sources were available.

Case overview/synopsis

This teaching case is designed for students to demonstrate their mastery of industry-level analysis in the emerging space tourism industry. It allows students to understand what constitutes the industry within the broader space sector and to apply analytical tools such as PESTEL and Porter’s Five Forces, with the option to discuss strategic groups. Students gain insights into how the industry is evolving within its broader environment and how companies could respond or differentiate themselves. Information is also provided for students to consider the broader social impact of a relatively new industry from the perspective of sustainable development.

Complexity academic level

The case is written for undergraduate and graduate students enrolled in strategic management courses. The case placement is ideally in conjunction with industry-level analytical frameworks such as Porter’s Five Forces, PESTEL analysis, strategic groups (optional) and industry life cycle. Most strategic management textbooks cover these concepts in the first few chapters. For example, “Strategic Management, 14th edition” by Hill, Schilling and Jones (2023) covers these topics in chapter 2. Given that space tourism is an embryonic industry dependent on technological innovation, instructors might also use this case in innovation or entrepreneurship-related courses. This case could also be used to address critical issues, such as sustainability, in tourism management courses.

• Space tourism
• PESTEL analysis
• Five forces
• Emerging industry

Acknowledgements

Disclaimer. This case is intended to be used as the basis for class discussion rather than to illustrate either effective or ineffective handling of a management situation. The case was compiled from published sources.

Congden, S.W. , Bertels, H.M.J. , Desplaces, D. and Drew, T. (2024), "Space tourism: an industry with a future?", , Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/TCJ-05-2023-0114

Emerald Publishing Limited

Copyright © 2024, Emerald Publishing Limited

You do not currently have access to these teaching notes. Teaching notes are available for teaching faculty at subscribing institutions. Teaching notes accompany case studies with suggested learning objectives, classroom methods and potential assignment questions. They support dynamic classroom discussion to help develop student's analytical skills.

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The Bottom Line

Home > The Bottom Line > Parabolic Flights: A Case Study for Space Travel & Tourism

Parabolic Flights: A Case Study for Space Travel & Tourism

March 31, 2021

The ongoing pandemic has presented a plethora of opportunities as well as challenges to some of the emerging business verticals like Space Tourism and Travel. Recently, the DearMoon project , initiated by Japanese billionaire Yusaku Maezawa recorded millions of participants applying to pursue their dream. On the other hand, Spaceport Cornwall rejected Virgin Galactic’s plan for expansion of their operations to conduct space tourism flights, and coupled with recent delays in launch, VG’s Chairman Chamath Palihapitiya dropped off his whole share from the company, valued at $213 Million .

Amidst all this negative news, the parabolic flight industry is still in operation, and one operator even received a much-needed boost: Zero-G Corporation announced a recent funding round to expand their operations to continue to serve celebrities, scientists and people looking for a thrilling ride.

NSR’s Space Tourism & Travel Markets, 2nd Edition report provides an in-depth analysis and forecast of the parabolic flight sector’s potential that shows it will grow revenues up to $170 million annually in 2030, flying almost 30,000 people by then .  The revenue contribution is lower in comparison to orbital and suborbital markets; however, the market will attract thousands of customers annually, which is a significant amount to consider. The market is well established and unless further delays occur due to outside factors, it will increase its flight frequency up to 350 annually.

It is currently the only existing operational segment of the space tourism market, and CAPEX and R&D costs are significantly lower than suborbital and orbital flights. So, what is stopping parabolic flights from growing? Does it have the potential blend as a mainstream market, and is it a high-revenue generator in the future? Can it be used as an example or a steppingstone to assist the struggling space tourism market for the future?

A Marketing Case Study

The parabolic flight industry is a small revenue generator compared to the other segments, yet it is the most active contributor in terms of passengers in the overall space travel and tourism market. Zero-G experiences at prices below $7,000 are far more affordable compared to suborbital flights at roughly $250,000 , which are still in the development stages. With the current pandemic, flights were delayed but are now back in operation, but with fewer participants under tighter safety precautions. Despite these concrete advantages, the market appears to be under the radar, and the following shortcomings might make a difference and help raise the profile that it deserves.

• Onboard Experience : Even with affordable zero gravity flights, consumers prefer comfort combined with a unique experience rather than just a simple ‘one-off’ short-lived experience. A majority will prefer spending a month-long European tour with family rather than experiencing 10-15 mins of microgravity for the same price. Thus, reaching a broader population with a better onboarding experience and exciting family offers may improve its potential.
• Marketing : Zero-gravity flight operators have carried out limited marketing campaigns, which is impacting sales. A wider audience with attractive offers, tailored to specific market targets is essential in the space tourism industry. In comparison to the parabolic flight market, sub-orbital and orbital perform better at marketing with a logjam of demand without any supply today.
• Networking : There are currently no common platforms to network or communicate with people who shares a similar passion for parabolic flight. The customers can act as a driver to amplify the unique experience and foster more social media interactions about the ” Zero-G experience”, thus enhancing its excitement.

Bottom Line

Despite having a unique and ‘out-of-this-world’ value proposition, with numerous offers and reliable frequent operation, there are several challenges to growth that parabolic flight needs to address, such as the ‘family onboard experience’ and better marketing.  And with a heavier demand that is not showing any signs of slowing down, suborbital and orbital tourism can look to the parabolic flight market’ case and study how it can start building the much-needed ecosystem and market drivers to help sustain space travel and tourism through the coming decade.

NSR supports satellite and launcher manufacturers, space tourism operators, satellite services providers and operators, end-users, space agencies, government and financial institutions in their technology and business strategy assessment and planning.

Please contact  [email protected]  for more information.

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• About Space Future
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There are currently 222 documents in the archive.

Here are some key documents from the archive to get you started:

• What the Growth of a Space Tourism Industry Could Contribute to Employment, Economic Growth, Environmental Protection, Education, Culture and World Peace
• Space Tourism Market Demand and the Transportation Infrastructure
• General Public Space Travel and Tourism
• Artificial Gravity and the Architecture of Orbital Habitats
• Prospects of Space Tourism
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• How Much Do You Know About Space
• Space Future Editor Wins NewSpace Journalism Award
• China's First Manned Docking of Space Module Is a Success
• Five Horrifying Facts
• NASA Will Pay You to Eat Astronaut Food
• Attention Teachers: If You Don't Apply to This Workshop
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Space Tourism Guide [CASE STUDY]

Space Tourism Guide is my second site, the one I spun out of an idea I had on my first (main) site, Valerie & Valise . It initially launched in February 2017 on Medium, but didn’t gain traction until I migrated to WordPress in November 2017. (That’s why I count November as the official site “launch.”)

It focuses on space tourism and astrotourism (astronomy-focused travel experiences on earth), including stargazing, aurora and eclipse chasing, viewing rocket launches, and more. It helped prove the market for Dark Skies, the book I wrote in partnership with Lonely Planet which was released in 2019.

Since launching four years ago, STG has grown to become a stable traffic and income driver for my business. It has a highly cyclical nature – both annually and in time with both astronomical and meteorological trends.

Today, it typically peaks at around 150,000 page views per month in October each year, but had a really great month in August 2023.

Here’s the latest traffic chart for this site:

Click below to explore reports about this site. Note I did not publish reports prior to the four-year mark for this site, as Site School didn’t exist yet!