Parabolic Flight Tourism Market Report 2023
The parabolic flight tourism market is expected to grow to $25.42 billion in 2023 at a compound annual growth rate (CAGR) of 34.94%, and then swell to $86.7 billion in 2027 at a CAGR of 35.9%, according to a new report from The Business Research Company.
This report is intended to provide strategists, marketers and senior management with the critical information they need to assess the market.
Parabolic flight tourism refers to the practice of traveling through flights that can replicate microgravity and are extremely helpful for brief scientific and technological examinations in lower gravity. Parabolic flights are used to corroborate space equipment and coach astronauts before spaceflight, as these flights are the unique way to assess microgravity with humans beyond prolonged astronaut training and flights to the International Space Station.
The main types of parabolic flight tourism include suborbital parabolic flights and orbital parabolic flights. Orbital parabolic flights are flights that mandatorily need to maintain a velocity or speed to continue their presence around a planet. They are used in applications such as scientific research and exploration, leisure, and other applications in end-use industries including government and commercial.
Technological advancements are a key trend gaining popularity in the market going forward. Major companies operating in the market are focused on developing new technological solutions to strengthen their position.
North America was the largest region in the market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Space-Related Tourism Driving Parabolic Flight Market
The increasing popularity of space-related tourism activities is expected to propel the growth of the parabolic flight tourism market going forward. Space-related tourism is a business activity connected to the cosmos that includes traveling to space as a tourist, looking at a rocket launch, stargazing, or going to a destination that is space-centric.
According to the report, these are safe mediums for space-related tourism. Also, parabolic flights are cost-effective for people to experience space tourism and for scientists to perform many scientific investigations. So, the increasing popularity of space-related tourism activities will propel the market.
More than $224 billion came from space companies' sales of goods and services, and nearly $138 billion was spent on building out the infrastructure and providing support for these businesses. Therefore, the Increasing popularity of space-related tourism activities is driving the parabolic flight tourism market.
Major players in the parabolic flight tourism market are Zero Gravity Corporation, Novespace, MiGFlug GmbH, Beings Systems, Space Adventures, Airbus Group SE, Vegitel, ASTRAX, XCOR Aerospace, Virgin Galactic, Spaceflight. Inc., Virgin Galactic, SpaceX, Blue Origin and Orion Span.
(Source: The Business Research Company via ResearchandMarkets. Images provided and from file)