Space tourism, a new industry that was considered only to appear in science fiction not long ago is about to become a reality.
Some companies, including Tesla CEO Elon Musk’s SpaceX, Amazon CEO Jeff Bezos’s Blue Origin (Blue Origin), Virgin Galactic, etc., are racing to become the space tourism industry. leader.
What is needed for space travel and how much it costs per person depends on the company’s technical capabilities, which vary greatly. In addition, there are significant differences in the cost, experience and even risks of space travelers to suborbital or orbital space.
UBS (UBS) estimated in a report last year that by 2030, the potential market value of both suborbital and orbital space tourism will reach US$3 billion .
Considering the high price of space travel, both Virgin Galactic and Blue Origin are targeting suborbital experiences for high-net-worth individuals.
Virgin Galactic has sold tickets worth US$200,000 to US$250,000 each to approximately 600 passengers, but the company expects it may significantly increase the price of the first commercial flights. Blue Origin said that its ticket prices have not yet been determined, but Bezos expects that the ticket prices will be comparable to competitors.
So far, Virgin Galactic has sent five people into space through two test flights. All five people are company employees. Four pilots control the spacecraft, and the chief astronaut trainer Beth Moses rides together as a test passenger on the second flight.
Virgin Galactic Chief Space Officer George Whitesides (George Whitesides) previously classified space travel flights as an “outdoor luxury experience”, which is the fastest growing segment of the luxury market.
“We think that in the next few years, about 2 million people around the world can get this experience at this price. Over time, when we can lower the price, the market will explode. (People who experience this kind of travel) Or it will reach 40 million, Whitesides said in a speech last year.
Both Cowen and UBS recently surveyed high-net-worth individuals and their interest in space suborbital tourism. Kewen’s investigation exceeded Whitesides’ estimates because the company found that the total potential market for space suborbital travel is approximately 2.4 million people, and these people have a personal net worth of more than $5 million.
UBS surveyed more than 6,000 high-net-worth individuals, especially passengers travelling on Virgin Galactic. Approximately 20% of the respondents said that after the company began regular flights, they “may purchase a spacecraft ticket within a year.” UBS said that “after several years of safe operations,” this number will rise to more than 35%.
In addition, UBS also emphasized that as prices fall, Virgin Galactic’s space tourism market will expand rapidly.
The suborbital flight reaches an altitude of approximately 100 kilometers and allows passengers to stay in space for a few minutes. The difference is that an orbital mission can reach an altitude of 400 kilometers and stay in space for several days or even more than a week.
Currently, SpaceX’s Falcon 9 rocket and Crew Dragon spacecraft are capable of entering the orbital tourism field. This summer, SpaceX sent two National Aeronautics and Space Administration (NASA) astronauts into space for the first time. This is of historical significance for both Musk’s company and NASA. This test flight makes SpaceX the first to send people into space. Orbital private company.
But in the next few years, the Crew Dragon spacecraft may not be the only option for private passengers to travel to the International Space Station. Boeing’s Starliner capsule is also designed to carry up to seven passengers, although the delay in the test flight means that the spacecraft is still under development. Based on Boeing’s contract with NASA, which can carry four astronauts on one flight, the company is allowed to sell the fifth seat to potential space tourists.
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