Space has always captivated the human imagination. In recent years, the evolution of space technology and the emergence of space tourism have brought us closer to realising our dreams of exploring the cosmos.
The rise and evolution of space tech has paved the way for an era where the average citizen can now venture beyond the Earth’s atmosphere and experience the wonders of space. The rise of key players like Virgin Galactic, Blue Origin, and SpaceX among others, have not only created a promising market outlook for space tourism but also positioned it to change the way we view and interact with the cosmos.
A multi-billion-dollar industry
While space tourism may look like science fiction coming to life, it’s not a new concept. In 2001, Dennis Tito, an American engineer and entrepreneur, became the inaugural “space tourist” by paying $20 million for a trip to the International Space Station.
Throughout history, around 600 individuals have ventured into space. However, only a small portion of them can be classified as space tourists, as they embarked on their space journeys for recreational and leisure purposes rather than scientific exploration.
From 2001 to 2009, a total of eight space tourists reached orbit, utilising government rockets and stations for their voyages. Interestingly, the SpaceX mission in 2021 marked the first entirely private expedition to orbit, with the crew even planning their own travel schedule.
The rapid growth of interest in space tourism has resulted in many companies researching, designing and testing spacecraft to carry tourists to space on a regular basis. The global space tourism market is set to skyrocket to a staggering $8.67 billion by 2030. This surge is fuelled by the growing desire of affluent individuals to transcend the bounds of our planet and embark on a once-in-a-lifetime adventure.
Notable players
The Space Tourism market is experiencing astronomical growth and intense competition. With many companies clamouring for a slice of the cosmic pie, it’s no easy task to identify the crème de la crème. If you’re yearning to voyage among the stars as a private astronaut, the following companies present promising opportunities to make that vision a reality.
• Virgin Galactic
At the forefront of the space tourism revolution stands Virgin Galactic, founded in 2004 by Virgin Group founder Sir Richard Branson. Virgin Galactic was among the first to test space tourism flights, with Branson himself being the company’s first official commercial passenger.
Last month, Virgin Galactic completed its first flight with “paying passengers” to the edge of space. The flight, called Galactic 01, lasted about 75 minutes and was completed two years after the company’s first fully crewed test spaceflight of its VSS Unity rocket plane.
To date, Virgin Galactic has managed to secure a whopping 800 tickets for voyages on their spacecraft, with each seat fetching a sky-high price of up to $450,000. The company has grander ambitions in mind, setting its sights on constructing a substantial fleet capable of accommodating a staggering 400 flights per year.
• Blue Origin
Blue Origin has been the primary contender to Virgin Galactic in the realm of sub-orbital space tourism. The company, which is owned by Amazon founder Jeff Bezos utilises a more traditional rocket, known as the New Shepard, which takes off and lands vertically.
In August last year, Blue Origin conducted its sixth tourist spaceflight. The price range for Blue Origin’s sub-orbital space tourism experience is typically between $200,000 and $300,000 per person, covering a one-hour flight duration and a three-hour preparation programme. Meanwhile, Blue Origin’s orbital launch services are priced between $50 million and $100 million per person.
• SpaceX
With extensive expertise in launching space missions, SpaceX also has a hat in the space tourism ring. However, unlike many other players in this field, the company places a strong emphasis on lunar tourism and endeavours to extend beyond Earth’s orbit.
Back in 2017, the firm’s founder Elon Musk declared his intentions to send two paying customers on a historic lunar tourism mission to circle the moon. Initially scheduled for 2018, the mission has faced delays. Currently, SpaceX has not disclosed any details regarding pricing or a waiting list for future lunar trips.
Nevertheless, when discussing future travel to Mars, Musk has clarified that he is confident the price will eventually be around $500,000 and potentially even as low as $100,000.
• Zephalto
Zephalto, a French company, envisions the possibility of enjoying a best-in-class dining experience on the “edge of space” as early as next year.
The space tourism venture, led by former air traffic controller Vincent Farret d’Astiès, is currently offering “pre-reservation tickets” for upcoming trips aboard a pressurised capsule named Celeste, which will be attached to a stratospheric balloon.
Ascending to an altitude of 25 kilometres, the capsule will provide guests with breathtaking views of the Earth’s curvature. The pre-reservation tickets are priced at approximately $10,900, which will allow buyers to secure a seat as soon as the official ticket sales commence. The total cost for a journey on Celeste amounts to around $131,100.
The road ahead
While space tourism is currently reserved for the elite few due to its high costs, the market is projected to expand, making this extraordinary experience more accessible to a broader audience.
As technology continues to evolve, costs are expected to decrease, opening the celestial gates to a wider range of space enthusiasts. The visionaries behind Virgin Galactic, Blue Origin, and SpaceX are committed to driving progress in this field, pushing the boundaries of human exploration and innovation.
While challenges remain, the promise of space exploration and the profound impact it can have on our understanding of the universe and our own planet makes it an awe-inspiring journey worth embarking upon.
