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Rising focus on space exploration and private initiatives to facilitate space transportation and high altitude balloon launches for tourism

VANCOUVER, BC, CANADA, March 26, 2022 /EINPresswire.com/ -- Emergen Research has recently published a new report on the Global Sub-orbital Transportation and Space Tourism market that offers key insights about the regional and global scope of the Sub-orbital Transportation and Space Tourism market. It offers key details about the recent product launches, technological advancements, supply and demand ratio, and regulatory framework. The report also offers details about market size, market share, revenue growth, and CAGR during the forecast period of 2021-2028. The report also offers key insights about top companies in the market along with a thorough SWOT analysis, Porter’s Five Forces analysis, and feasibility analysis to offer competitive edge to the readers. The report focuses on the recent trends, major challenges and opportunities, and limitations pertaining to the ongoing pandemic.

The global sub-orbital transportation and space tourism market size reached USD 423.7 million in 2020 and is expected to register a revenue CAGR of 16.8%, during the forecast period. Some of the major factors driving global sub-orbital transportation and space tourism market revenue growth include increased focus on space explorations and private initiatives to facilitate space transportation. Increasing focus on launching high-altitude balloons for space tourism, as well as astronomy among a number of enthusiasts is expected to propel revenue growth of the global sub-orbital transportation and space tourism market between 2021 and 2028.

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High-altitude balloons sent into the stratosphere could achieve a nominal height of 30 kilometers and are often loaded with hydrogen and helium. Balloons are categorized depending on desired use such as research balloons and weather balloons. Research balloons are used for a wide range of purposes, including Earth observation, monitoring, and communications. Weather balloons are being used for forecasts, disaster alerts, and other related applications. Commercial applications of high-altitude balloons, include space exploration and astronomy, which is expected to boost market growth in the near future.

Key players in the market include Near Space Corporation, Blue Origin, LLC, Exos Aerospace Systems & Technologies, Inc., Aerostar International, Inc., Space Exploration Technologies Corp. (SpaceX), UP Aerospace, Inc., PD AeroSpace, LTD., Space Perspective Inc., Zero 2 Infinity SL, and Virgin Galactic Holdings Inc.

Key Benefits of Buying the Global Sub-orbital Transportation and Space Tourism Report:

Comprehensive analysis of the changing competitive landscape

Assists in decision making processes for the businesses along with detailed strategic planning methodologies

The report offers an 8-year forecast and assessment of the Global Sub-orbital Transportation and Space Tourism Market

Helps in understanding the key product segments and their estimated growth rate

In-depth analysis of market drivers, restraints, trends, and opportunities

Comprehensive regional analysis of the Global Sub-orbital Transportation and Space Tourism Market

Extensive profiling of the key stakeholders of the business sphere

Detailed analysis of the factors influencing the growth of the Global Sub-orbital Transportation and Space Tourism Market

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Additionally, the report covers the analysis of the key players in the industry with a special focus on their global position, financial status, and their recent developments. Porter’s Five Forces Analysis and SWOT analysis have been covered by the report to provide relevant data on the competitive landscape.

Detailed Regional Analysis covers:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

The global Sub-orbital Transportation and Space Tourism market report covers the analysis of drivers, trends, limitations, restraints, and challenges arising in the Sub-orbital Transportation and Space Tourism market. The report also discusses the impact of various other market factors affecting the growth of the market across various segments and regions. The report segments the market on the basis of types, applications, and regions to impart a better understanding of the Sub-orbital Transportation and Space Tourism market.

Emergen Research has segmented global sub-orbital transportation and space tourism on the basis of vehicle, application, end-use, and region:

Vehicle Outlook (Revenue, USD Million; 2018–2028)

High-Altitude Balloons

Sub-Orbital Reusable Vehicles

Parabolic Flights

Application Outlook (Revenue, USD Million; 2018–2028)

Space Tourism

Cargo Delivery

Satellite Deployment

Remote Sensing & Earth Observation

Others

End-Use Outlook (Revenue, USD Million; 2018–2028)

Government

Aerospace & Defense

Commercial

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Key Findings from the Report:

Sub-orbital reusable vehicles segment is expected to expand at a substantially rapid revenue CAGR during the forecast period due to increasing demand for such vehicles for sub-orbital transportation and space tourism. Rocket-powered vehicles are known as sub-orbital reusable vehicles. Launching profiles of such vehicles vary from vertical takeoff and landings and horizontal launched wings vehicles.

Cargo delivery segment is expected to register a significantly steady revenue growth rate over the forecast period as it is considered the primary goal of space transportation.

North America is expected to register a larger revenue growth rate in the sub-orbital transportation and space tourism market over the forecast period due to robust presence of major market players, including Blue Origin, LLC, Space Exploration Technologies Corp., and Virgin Galactic Holdings Inc., among others in developed countries in the region.

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