Space Tourism Market Report 2025 (Global Edition)

Global Space Tourism Market Report 2025 Market Size Split by Type (Orbital, Sub Orbital), by End Use (Government, Commercial)

Space Tourism Market Report Description

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Imapct of Trumph Tariff on Electronics and Electrical Industry

In 2025, global trade has entered a period of renewed volatility as the U.S., under President Donald Trump, introduced sweeping tariffs known as the Liberation Day Tariffs. Aimed at addressing trade imbalances and foreign supply chain dominance, the tariffs range from 10% on allies like Australia and the UK to 46% on Vietnamese goods and 34% on Chinese imports. A 25% universal tariff on steel, aluminum, and auto parts has further strained global trade ties. The electronics sector is among the hardest hit, particularly due to the escalating U.S.China trade war. Tariffs on Chinese goods now reach up to 145% in sectors like semiconductors and consumer electronics, while China has retaliated with up to 125% duties and restrictions on critical mineral exports. This has disrupted just-in-time supply chains and increased component costs.

Specific tariffs include 25% on semiconductors, 20% on lithium-ion batteries, and 10–15% on consumer electronics like laptops and tablets, leading to higher retail prices and reduced consumer demand. Sub-sectors such as home automation, computer hardware, communication electronics, medical devices, and industrial electronics are all under pressure due to rising input costs and supply chain delays. Companies are revisiting suppliers, shifting sourcing to countries like India, Mexico, and Vietnam, and redesigning products to avoid high-tariff components.

China remains a key player, contributing USD 119 billion in electronics exports to the U.S. in 2023. Even components routed through countries like Malaysia and Vietnam often rely on Chinese subparts, making the ripple effect of tariffs widespread. U.S. electronics firms operating on thin margins are seeing input costs rise 18–25%, with contract manufacturers in alternative regions facing capacity constraints.

Market research is now critical. It helps companies identify new suppliers, analyze cost trends, optimize product design, forecast demand shifts, and track regulatory changes. Tools like supplier mapping, BOM optimization, and scenario planning support strategic responses to ongoing disruptions. Leading firms like Apple and Dell are expanding production outside China, while others invest in digital supply chain tools and redesign products for cost resilience. In this evolving trade environment, firms that leverage research-driven strategies are better positioned to adapt and thrive.

Space Tourism Market Insights Video

Competitive Landscape of the Space Tourism Market

The competitive landscape of the Space Tourism market is characterized by a range of players competing to gain market share through product innovation, strategic partnerships, and aggressive marketing efforts. Key players in the market include established manufacturers, specialized Space Tourism companies, and emerging start-ups aiming to disrupt the market with innovative solutions.

October 2023: Axiom Space and the European Space Agency (ESA) signed a Memorandum of Understanding (MOU) to explore potential collaborations in human spaceflight, scientific research, technological advancements, and commercial ventures. This MOU aims to foster the development of science and technology through possible joint initiatives, including Axiom Space's missions to the International Space Station (ISS) and future projects in low-Earth orbit. (Source: https://www.axiomspace.com/news/esa-partnership )

Top Companies Market Share in Space Tourism Industry: (In no particular order of Rank)

• Airbus
• Axiom Space
• Inc.
• Blue Origin Enterprises
• L.P.
• Rocket Lab USA
• Inc.
• Space Adventures
• Inc.
• SpaceX
• The Boeing Company
• Virgin Galactic Holdings
• Inc.
• Zero 2 Infinity
• Zero Gravity Corporation
• Confidential Data
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• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Space Tourism Market

Which Region Dominates the Space Tourism Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024. North America is actively developing and expanding its network of spaceports and launch facilities, which are vital for the advancement of space tourism. New spaceports, such as those established by Virgin Galactic in New Mexico and SpaceX in Texas, are significantly boosting the region's capacity to accommodate commercial space flights. The space sector made a notable contribution to Canada's economy, generating $2.7 billion in GDP in 2020 and $2.8 billion in 2021. This sector also has a positive impact on the wider economy, with a GDP multiplier of 1.98 in 2020 and 1.99 in 2021. This means that for every dollar contributed to GDP by the space sector, an additional $0.98 in 2020 and $0.99 in 2021 is generated for the broader economy. https://www.asc-csa.gc.ca/pdf/eng/publications/2021-2022-state-canadian-space-sector-facts-figures-2020-2021-v2.pdf

Which Region is Expanding at the Fastest CAGR?

Several countries in the Asia Pacific region, including China, India, and Japan, are witnessing rapid economic growth. India, which currently holds 2-3% of the global space economy, is projected to increase its share to over 10% by 2030. The country operates two key launch vehicles: the Polar Satellite Launch Vehicle (PSLV) and the Geosynchronous Satellite Launch Vehicle (GSLV). As of July 2022, the PSLV has completed 55 launches, with 52 being successful. Since 1999, India has launched 381 foreign satellites for 34 countries on a commercial basis, including 36 OneWeb Gen 1 communication satellites launched together on October 23, 2022. This economic growth is boosting disposable incomes and expanding the base of potential customers who can afford luxury experiences such as space tourism. https://www.investindia.gov.in/sector/space

The current report Scope analyzes Space Tourism Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC)
• Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East (Saudi Arabia, Turkey, UAE, Egypt, Qatar, Rest of Middle East)
• Africa (Nigeria, South Africa, Rest of Africa)

The above graph is for illustrative purposes only.

North America Space Tourism Market Analysis

According to Cognitive Market Research, the global Space Tourism market size was estimated at USD 895.6 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 358.2 million in 2024 and will grow at a compound annual growth rate (CAGR) of 43.3% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Space Tourism market with a market size of USD 282.6 million in 2024 and is projected to grow at a CAGR of 43.1% during the forecast period. The nation's presence of leading space companies, driving the market.
• The Canada Space Tourism market had a market share of USD 42.9 million in 2024 and is projected to grow at a CAGR of 44.1% during the forecast period. Canada's significant private sector investment, and a strong consumer interest in luxury and adventure experiences, driving the market.
• The Mexico Space Tourism market is projected to witness growth at a CAGR of 43.8% during the forecast period, with a market size of USD 32.6 million in 2024.

Europe Space Tourism Market Analysis

According to Cognitive Market Research, the global Space Tourism market size was estimated at USD 895.6 Million, out of which Europe held the market of more than 30% of the global revenue with a market size of USD 268.6 million in 2024 and will grow at a compound annual growth rate (CAGR) of 43.6% from 2024 to 2031.

• The United Kingdom Space Tourism market had a market share of USD 45.1 million in 2024 and is projected to grow at a CAGR of 44.4% during the forecast period. In the UK, Space Tourism sales witness an upswing due to the increasing interest in space exploration, and government-backed initiatives to develop spaceports.
• The France Space Tourism market is projected to witness growth at a CAGR of 42.8% during the forecast period, with a market size of USD 24.7 million in 2024.
• According to Cognitive Market Research, the German Space Tourism market size was valued at USD 53.2 million in 2024 and is projected to grow at a CAGR of 43.8% during the forecast period. In Germany, Space Tourism surged due to strong aerospace industry capabilities, advanced technological research, and a growing interest in luxury experiences.
• The Italy Space Tourism market is projected to witness growth at a CAGR of 43.0% during the forecast period, with a market size of USD 23.1 million in 2024.
• The Russian Space Tourism market is projected to witness growth at a CAGR of 42.6% during the forecast period, with a market size of USD 41.6 million in 2024.
• The Spain Space Tourism market is projected to witness growth at a CAGR of 42.7% during the forecast period with a market size of USD 22.0 million in 2024
• The Luxembourg Space Tourism market is projected to witness growth at a CAGR of 43.7% during the forecast period, with a market size of USD 8.33 million in 2024.
• The Portugal Space Tourism market is projected to witness growth at a CAGR of 43.4% during the forecast period, with a market size of USD 5.64 million in 2024.
• The Greece Space Tourism market is projected to witness growth at a CAGR of 43.9% during the forecast period, with a market size of USD 3.22 million in 2024.
• Rest of Europe's Space Tourism market is projected to witness growth at a CAGR of 42.3% during the forecast period, with a market size of USD 41.6 million in 2024.

Asia Pacific Space Tourism Market Analysis

According to Cognitive Market Research, the global Space Tourism market size was estimated at USD 895.6 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 205.9 million in 2024 and will grow at a compound annual growth rate (CAGR) of 47.1% from 2024 to 2031.

• According to Cognitive Market Research, the China Space Tourism market size was valued at USD 92.6 million in 2024 and is projected to grow at a CAGR of 46.6% during the forecast period. Space Tourism surged in China due to advancements in robotics and space technology.
• The Japan Space Tourism market is projected to witness growth at a CAGR of 45.6% during the forecast period, with a market size of USD 28.4 million in 2024.
• The India Space Tourism market had a market share of USD 24.7 million in 2024 and is projected to grow at a CAGR of 48.9% during the forecast period. India's rising interest in space tourism, and reduction in space tour costs, driving the market.
• The South Korean Space Tourism market is projected to witness growth at a CAGR of 46.2% during the forecast period, with a market size of USD 20.6 million in 2024.
• The Australian Space Tourism market is projected to witness growth at a CAGR of 46.8% during the forecast period, with a market size of USD 10.7 million in 2024.
• The South East Asia Space Tourism market is projected to witness growth at a CAGR of 48.1% during the forecast period, with a market size of USD 14.2 million in 2024.
• The Rest of Asia Pacific Space Tourism market is projected to witness growth at a CAGR of 46.9% during the forecast period, with a market size of USD 14.6 million in 2024.

South America Space Tourism Market Analysis

According to Cognitive Market Research, the global Space Tourism market size was estimated at USD 895.6 Million, out of which the Latin America market has more than 5% of the global revenue with a market size of USD 44.7 million in 2024 and will grow at a compound annual growth rate (CAGR) of 44.5% from 2024 to 2031. .

• According to Cognitive Market Research, the Brazil Space Tourism market size was valued at USD 19.1 million in 2024 and is projected to grow at a CAGR of 45.1% during the forecast period. Space Tourism flourished in Brazil due to the Increasing private sector involvement and advancements in space technology.
• Argentina's Space Tourism market had a market share of USD 7.52 million in 2024 and is projected to grow at a CAGR of 45.4% during the forecast period. Argentina's huge research and development initiatives in space exploration and tourism augment the demand.
• Colombia Space Tourism market is projected to witness growth at a CAGR of 44.3% during the forecast period, with a market size of USD 3.99 million in 2024.
• Peru Space Tourism market is projected to witness growth at a CAGR of 44.7% during the forecast period, with a market size of USD 3.67 million in 2024.
• Chile's Space Tourism market is projected to witness growth at a CAGR of 44.8% during the forecast period, with a market size of USD 3.22 million in 2024.
• The Rest of Latin America's Space Tourism market is projected to witness growth at a CAGR of 43.6% during the forecast period, with a market size of USD 7.21 million in 2024.

Middle East Space Tourism Market Analysis

According to Cognitive Market Research, the global Space Tourism market size was estimated at USD 895.6 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 17.9 million in 2024 and will grow at a compound annual growth rate (CAGR) of 44.8% from 2024 to 2031..

• The GCC Countries Space Tourism market is projected to witness growth at a CAGR of 45.6% during the forecast period, with a market size of USD 7.67 million in 2024. Space Tourism sales flourish due to the substantial investments in space infrastructure, and ambitious national space programs.
• The Egypt Space Tourism market is projected to witness growth at a CAGR of 45.1% during the forecast period, with a market size of USD 1.88 million in 2024.
• The South Africa Space Tourism market is projected to witness growth at a CAGR of 45.8% during the forecast period, with a market size of USD 2.83 million in 2024. Space Tourism sales flourish in South Africa due to increasing government support for space programs, and a rising interest in innovative and high-profile travel experiences.
• The Turkey Space Tourism market is projected to witness growth at a CAGR of 44.3% during the forecast period, with a market size of USD 1.54 million in 2024.
• The Nigeria Space Tourism market is projected to witness growth at a CAGR of 43.9% during the forecast period, with a market size of USD 1.88 million in 2024.
• The Rest of the MEA Space Tourism market is projected to witness growth at a CAGR of 43.8% during the forecast period, with a market size of USD 2.11 million in 2024.

Space Tourism Market Analysis

Space Tourism Market Type Segment Analysis

According to Cognitive Market Research, Orbital stands out as the dominant category over the projected period. Advances in space technology have led to the development of space habitats and space stations that can accommodate tourists for extended periods. Innovations by companies and space agencies in creating habitable environments in orbit have made orbital space tourism more feasible. Technological advancements in spacecraft design and propulsion systems have enhanced the capability to transport passengers to and from orbital destinations safely and efficiently. This includes developments in reusable rockets and spacecraft with higher payload capacities..

Sub Orbital emerges as the fastest-growing category in the Space Tourism market. Advances in rocket technology, particularly the development of reusable rockets, have significantly reduced the cost and complexity of suborbital space travel. Companies like Blue Origin and Virgin Galactic have pioneered reusable rocket systems, making suborbital flights more economically viable. Suborbital space tourism is generally less expensive than orbital flights. This lower cost makes it more accessible to a broader range of consumers. The reduced cost of suborbital flights helps attract a diverse customer base interested in experiencing space.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Space Tourism Industry. Request a Free Sample PDF!

Space Tourism Market End-Use Segment Analysis

According to Cognitive Market Research, the dominant category is Government. Governments view space tourism as a way to maintain or enhance their technological leadership in space exploration. By investing in space tourism, governments can stimulate advancements in space technologies and maintain a competitive edge in the global space race. Space tourism provides a platform for governments to enhance their geopolitical influence. Countries with advanced space programs can showcase their technological prowess and leadership on the global stage, strengthening their international standing.

The fastest-growing category in the Space Tourism market is Commercial. There has been a surge in private investment in space tourism companies. High-net-worth individuals, venture capitalists, and private equity firms are investing heavily in space tourism startups and established companies, driving innovation and accelerating market growth. With substantial financial backing, commercial space tourism companies can develop and refine technologies, build infrastructure, and plan new space missions. This investment is crucial for turning ambitious plans into reality and expanding the market.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Author's Detail

Kalyani Raje

Senior Research Analyst at Cognitive Market Research

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ResearchGate Profile: https://www.researchgate.net/profile/Kalyani-Raje

An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile and transportation vertical.

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