Introduction:

Space tourism is a rapidly emerging industry that provides private individuals the chance to venture beyond Earth's atmosphere and experience space travel first-hand. This venture has caught people's imagination around the globe and holds great promise of making space travel more accessible for a broad spectrum of individuals. Here's an introduction to this sector.

Space tourism has grown from being the province of dreamers and science fiction writers into an expanding industry in its own right. Space tourism gained momentum during the early 21st century due to advances in space technology, increased private investments, and commercialization of space travel.

According to market.us 2022, the global space tourism market accounted for USD 847.7 million and will reach USD 17,742 million by 2032. Between 2023 and 2032, this market is estimated to register a CAGR of 36.6%.

"The World's Top 10 Space Tourism Market Companies"

1. Blue Origin:

Blue Origin was established by Jeff Bezos of Amazon, known for creating Amazon, in 2000 and is a private aerospace manufacturer and suborbital spaceflight services company dedicated to making space more accessible for humanity. Their New Shepard suborbital space tourism vehicle specializes in short trips into space and Blue Origin also works on developing reusable rocket technology through projects like New Glenn orbital launch vehicle. Furthermore, their sustainable space exploration commitment can be seen with their emphasis on reusable technologies as well as plans for lunar exploration through Artemis program with NASA.

2. Virgin Galactic:

Established by Sir Richard Branson in 2004, Virgin Galactic is one of the pioneers in space tourism. Launching their SpaceshipTwo vehicle aboard their mothership mothership provides tourists with a thrilling suborbital spaceflight experience while giving spectacular views from space. Virgin Galactic has conducted successful test flights since 2004 - giving those searching for adventure an out-of-this-world adventure!

3. SpaceX:

SpaceX was founded by Elon Musk in 2002 as a global leader in space exploration. Since its conception, SpaceX has revolutionized the industry through its commitment to reusability - creating the Falcon 9 and Falcon Heavy rockets as examples of this approach. SpaceX has played an essential role in launching satellites, resupplying the International Space Station, and plans to colonize Mars via their Starship spacecraft - with many successful missions under their belt and partnerships with NASA, pushing back the boundaries of space travel forward.

4. Airbus Group SE:

Airbus Group SE: As a European multinational corporation, Airbus Group SE is an integral player in the global aerospace industry. While not specifically dedicated to space tourism, they make important contributions through satellite production and technology development as well as international space missions and satellite programs. Their expertise makes them invaluable partners.

5.Boeing:

Boeing, an American aerospace company, is well known for their contribution to space exploration. Their CST-100 Starliner developed in partnership with NASA is designed for crewed spaceflight to the International Space Station and beyond; additionally they continue exploring innovative space technologies and contributing towards future space missions. 

6. ZERO-G:

ZERO-G: A private company called ZERO-G provides an unique space experience for the general public. Their weightless parabolic flights, commonly referred to as the "vomit comet", simulate zero gravity conditions. These flights give individuals an experience similar to being an astronaut while providing tourists and researchers alike an insight into microgravity environments.

7. Axiom Space:

Axiom Space is a commercial space station company with ambitious plans to construct a station capable of supporting research, manufacturing and tourism activities. Axiom's primary objective is expanding human presence in space by giving not only professional astronauts but also private individuals the chance to visit and stay aboard its station; such forward thinking is what distinguishes Axiom from other space tourism providers and makes Axiom a key player in the developing space tourism industry.

8. Bigelow Aerospace:

Bigelow Aerospace has long been recognized for their pioneering work on expandable habitats for space. They have developed inflatable modules which can be attached to space stations and other structures for ease of attachment and greater comfort and space for future space tourists. Though not directly involved with space tourism, their technology could pave the way to more comfortable accommodations for future space tourists.

9. Orion Span:

Orion Span is a space tourism startup with the mission of building the first luxury space hotel - Aurora Station. While still early stages, Orion Span aims to offer an unforgettable space experience to those willing to venture beyond Earth's atmosphere and redefine our conceptions of space travel.

10. Space Adventures:

Pioneer of space tourism since 1998, Space Adventures is a premier space tourism provider specializing in private missions to the International Space Station (ISS). Through this pioneering space tourism company's private missions to ISS since 1998, several civilians have experienced life on board - providing space tourism a reality for those with the means and the desire to explore space! Founded by two former NASA personnel who saw an opportunity in 1999 when Space Adventures allowed civilians a taste of life on board for those willing to undergo private missions themselves since 1998!

Suggested reading : Global Space Tourism Market by Type (Orbital, Sub Orbital), By End-User (Government, Commercial), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Recent development:

• Virgin Galactic announced in August 2023 that they had received approval from the US Federal Aviation Administration (FAA) to commence commercial spaceflights, making them the first company licensed by FAA for passenger spaceflight.

• SpaceX announced in September 2023 that they had successfully sold a ticket to a Japanese billionaire for an excursion to the Moon, marking their inaugural commercial lunar tourism mission.

• Axiom Space announced in October 2023 that they had entered into an agreement with NASA to launch three private astronaut missions to the International Space Station (ISS), marking the first time private citizens will visit it.