Space tourism market seen reaching $12.6 billion by 2031

By AI, Created 1:42 PM UTC, May 25, 2026, /AGP/ – A new market report says the global space tourism industry could grow from $598.4 million in 2021 to $12.6 billion by 2031, driven by technological advances and rising consumer interest. North America leads today, while LAMEA is projected to grow fastest as commercial spaceflight expands.

Why it matters: - The space tourism market is moving from niche concept to a potentially multibillion-dollar industry by 2031. - Lower costs, more competition and broader acceptance could make spaceflight a commercial travel option, not just a technical milestone. - The report also flags environmental concerns and launch-related risks as constraints on growth.

What happened: - Allied Market Research estimated the global space tourism market at $598.4 million in 2021. - The market is forecast to reach $12.6 billion by 2031, with a compound annual growth rate of 36.4% from 2022 to 2031. - The report was published in Wilmington, Delaware, on May 25, 2026. - The report lists major players including Blue Origin, Virgin Galactic, SpaceX, Airbus Group SE, Boeing, ZERO-G, Axiom Space, Bigelow Aerospace, Orion Span, Space Adventures, Space Perspective, World View Enterprises and Zero2Infinity.

The details: - Technological advances, ongoing changes in space technology and rising interest in space tourism are the main growth drivers. - Research and development spending by market players is creating additional market opportunities. - Increased competition is expected to push prices lower across the sector. - Next-generation space planes reaching orbit could sharply reduce the cost of entering space. - Lower launch costs could also reduce satellite-launch expenses and broader space-exploration costs. - The market is segmented by type, end use and region. - The type split includes orbital and suborbital tourism. - Suborbital tourism held the larger market share in 2021 and is expected to grow at a strong pace through 2031. - Suborbital flights let passengers experience weightlessness and view space without leaving Earth’s orbit. - North America accounted for more than two-fifths of global revenue in 2021 and is expected to remain the dominant region. - The region’s advantage comes from advanced infrastructure, a strong R&D base and a dense network of small and medium-sized suppliers serving companies such as SpaceX, Blue Origin and Virgin Galactic. - The U.S. is expected to keep its lead because of high-net-worth demand and continued technology investment. - LAMEA is projected to post the fastest CAGR at 68.1% from 2022 to 2031. - Growth in space activity plus government initiatives and investment are supporting LAMEA expansion. - Asia-Pacific also shows strong potential, with CNSA, ISRO and JAXA among the key contributors. - CAS Space, a Chinese Academy of Sciences spinoff, has been developing rockets for commercial satellite launches. - The report offers a free sample and a purchase inquiry option through Allied Market Research.

Between the lines: - The report points to a market still early in commercialization, but one that could scale quickly if safety, pricing and vehicle reliability improve. - Environmental concerns could become a bigger issue as launch frequency increases, especially given ozone impacts from rocket emissions. - Companies using liquid hydrogen, including Blue Origin’s New Shepard, may have a marketing and policy advantage because hydrogen combustion produces water vapor instead of carbon dioxide. - The regional data suggests the first major commercial gains may stay concentrated in North America before spreading more broadly.

What’s next: - The market’s pace will likely depend on whether reusable systems, lower launch costs and stronger demand can overcome safety and environmental concerns. - North America is expected to remain the main revenue hub while LAMEA posts the fastest percentage growth. - More R&D and new vehicle development could help push space tourism closer to mainstream luxury travel.

The bottom line: - Space tourism is still small, but the report says it has a steep growth curve, with commercial, technical and regional momentum building fast.