Home Press Releases Parabolic Flight Tourism Market Size Worth $214.5 Billion By 2030 | CAGR: 35.21%

Parabolic Flight Tourism Market Size Worth $214.5 Billion By 2030 | CAGR: 35.21%

The global parabolic flight tourism market size is expected to reach USD 214.5 billion by 2030, according to a new study by Polaris Market Research. The report “Parabolic Flight Tourism Market Share, Size, Trends, Industry Analysis Report, By Application (Scientific Research & Exploration, Leisure & Others); By End Use (Government, Commercial); By Region; Segment Forecasts, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

The growing investments and rising technological advancements in space and tourism industry are expected to drive market growth during the forecast period. The technological advancements in the space tourism industry are enhancing the development of special aircraft such as parabolic flights and superior rockets at a faster pace which allows space travelers to travel into space and gain advantageous experiences. Additionally, developing economies across the world are exploring space programs which in turn is further contributing to the overall market growth.

 

The thriving space and tourism industry and increasing interest among consumers with high disposable income are other factors that are contributing to the overall market growth. In the coming years, space tourism is anticipated to make space more accessible to common people who are not involved in any astronaut or research profession. Key players planning to offer low-cost choices will be entering this market soon, which will further contribute to the market growth in future.

 

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Countries like US and China are the major countries that can generate largest revenue from space tourism businesses. All the players operating in the market have their presence in these countries, especially in U.S followed by China and Japan, which have high-net-worth and ultra-high-net-worth individuals, respectively. These countries can be considered as the most viable options for space tourism business. Recently, Japanese businessman Yusaku Maezawa went on a 12-day mission to the international space station which landed on earth in Dec 2021.

 

Although the pandemic has slowed the overall market growth due to the lockdown restrictions and halted aircraft operations, the huge loss faced by the travel and tourism industry is one of the major factors for the declining growth of the market during the outbreak of the pandemic. However, the market is all set to witness significant growth in the coming years due to multiple competitors, which are investing huge amounts of capital in their R&D to integrate modern technology in spacecraft used for travel/tourism.

 

Parabolic Flight Tourism Market Report Highlights

  • The Scientific research and exploration segment is anticipated to grow dominantly over the forecast period owing to the growing demand for parabolic flights to conduct space research and to increase test readiness levels to get successful experiment results.
  • Government accounted for a major revenue share, which is accelerated by various initiatives taken by the government of various countries to spread the use of parabolic flights. Singapore’s government has taken an initiative to develop technology infrastructure and to encourage private research and development activities. On the other hand, the commercial segment is projected to grow at the fastest CAGR during the estimated period.
  • North America garnered the largest revenue share, owing to the well-developed infrastructure and access to a highly advanced technological research & development base, contributing to the overall market growth across the region.
  • The market players include Zero Gravity, Novespace, MiGFlug; Beings Systems; Space Adventures; Airbus Group, Vegitel, and ASTRAX.

 

Polaris Market Research has segmented the parabolic flight tourism market report based on application, end-use, and Region

 

Parabolic Flight Tourism Market, Application Outlook (Revenue – USD Billion, 2018 – 2030)

  • Scientific research and Exploration
  • Leisure
  • Others

Parabolic Flight Tourism Market, End-Use Outlook (Revenue – USD Billion, 2018 – 2030)

  • Government
  • Commercial

Parabolic Flight Tourism Market, Regional Outlook (Revenue – USD Billion, 2018 – 2030)

  • North America
    • U.S
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
  • Latin America
    • Argentina
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Israel
    • South Africa

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