The global space tourism market is forecast to grow briskly from $851.7 million in 2024 to $5.19 billion by 2034, according to a new report by research firm Fortune Market Insights (FMI). Driving the growth of space tourism over the next decade will be technological advancements, innovation in spacecraft design and the rise of commercial space travel companies such as SpaceX, Blue Origin, and Virgin Galactic, the report said. North America is expected to be the largest market for space tourism, with the U.S. growing at a compound annual rate of 17.3% through 2034, while the Russian market will expand at a 15.5% rate and China at 14.8%. “Growing public interest in space exploration and the desire to experience space travel personally are expected to elevate demand for space tourism,” Sneha Varghese, a senior consultant at FMI, said in a press release. Varghese added that governments globally are providing regulatory support to encourage the development of the space tourism industry. A Pew Research Center survey published in July found that 55% of Americans expect space tourism to be routine by 2073, but that many are hesitant to take such a trip themselves. Of the 10,000 respondents to the survey, 35% said they would be interested in orbiting Earth in a spacecraft, while 65% rejected the idea. Despite the excitement about space tourism, the cost makes it out of reach for all but the ultra-wealthy. The cost of a ticket on Blue Origin’s New Shepherd rocket is undisclosed but widely believed to be in the six figures, while the price of a flight aboard a Virgin Galactic ship is $450,000. Since the flight is technically just 3 min. long, that is $150,000 per minute. While profitability currently remains elusive for most space tourism companies–SpaceX is an exception–there are signs auguring well for the industry’s future trajectory. For instance, Virgin Galactic posted better-than-expected third-quarter earnings. The company recorded a net loss of $104.6 million, or 28 cents a share, compared with a loss of 43 cents a share expected by analysts surveyed by Refinitiv. Virgin Galactic generated $1.7 million in revenue during the quarter, compared to $767,000 a year earlier. #space #spacex #spaceeconomy #venturecapital #virgingalactic #blueorigin #aerospace #travel #tourism https://lnkd.in/ewpZGeyb
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Honored to have commented on Channel 4 today about the unfortunate Russian Luna-25 crash and describe what this means for the space powers grappling for control of the Moon. It's #china vs #usa on the Moon. #space #spaceeconomy #spaceengineering Space ISAC Cornell University Cornell Mechanical & Aerospace Engineering https://lnkd.in/e-KwjAJ5
West should be ‘concerned’ about China’s space ambitions, says aerospace expert
channel4.com
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🌌🛰️ With increased activity in #cislunar space, it's time to update global spaceflight safety standards. A review by The Aerospace Corporation reveals that current guidelines may not align with future cislunar operations. Urgent call to action: Unified government decisions are needed in the next two years to ensure consistent and sustainable standards. Otherwise, we risk fragmented rules and safety measures. 🤝🌙 See Joseph Gangestad, "Pack It In, Pack It Out: Updating Policy and Standards for Cislunar Sustainability," for Center for Space Policy & Strategy #Lunapolitics #USA https://lnkd.in/eH-Q4ZKT
Pack It In, Pack It Out: Updating Policy and Standards for Cislunar Sustainability
csps.aerospace.org
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Venture Investor at I2BF | 10 years transforming boring and unsexy industries with frontier tech (B2B SaaS, Quantum Technology, SpaceTech & DeepTech) | space dreamer and ex-rocket scientist
What is the first thing which comes to your mind when you think about Italy and Turin? Personally, I think about the 2006 Winter Olympics. However, Italy is the second EU country after Germany in the aerospace sector, and Turin is its heart. By the way, I was surprised to learn that Italy was the third country in the world to launch a satellite after the USSR and the US. We at Space Ambition have put together an inspiring article with an overview of the Italian aerospace sector. I hope you will like it! https://bit.ly/3POhJuj
Italy: A Rising Star with Significant Contributions to the Space Industry
spaceambition.substack.com
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My interaction with the #Aerospace and #Defence sector in #Italy, is one of the richest and most interesting ones. Hosting giants like Leonardo, Thales, AVIO but also one of the biggest global players in naval applications FINCANTIERI it makes me exited to have the opportunity to work with these companies and build an even closer collaboration during the next few months. Italy is among the very few countries to have coverage in the entire aerospace and defence value chain (especially in the regions of #Lazio, #Piedmont and #Lombardy) which creates the opportunity to work with all Tiers and company sizes and be a part of building the future for the aerospace and defence sector. #aerospaceindustry #defenceindustry #defenseindustry #space https://lnkd.in/e9_wy5qh.
Italy: A Rising Star with Significant Contributions to the Space Industry
spaceambition.substack.com
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🚀 𝗦𝗲𝗰𝘂𝗿𝗲 𝘁𝗿𝗮𝗻𝘀𝗽𝗼𝗿𝘁𝗮𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗹𝗼𝗻𝗴-𝘁𝗲𝗿𝗺 𝘀𝘁𝗼𝗿𝗮𝗴𝗲 𝗼𝗳 𝘀𝗲𝗻𝘀𝗶𝘁𝗶𝘃𝗲 𝘀𝗮𝘁𝗲𝗹𝗹𝗶𝘁𝗲 𝗰𝗼𝗺𝗽𝗼𝗻𝗲𝗻𝘁𝘀🛰️ On June 19th, we commissioned for our customer, DLR's Responsive Space Cluster Competence Center (RSC³), a specialized container, which was designed and manufactured by RST in cooperation with its Dutch partner FAWIC BV. This container serves a dual purpose: secure transportation and long-term storage of sensitive satellite components. 🎯 𝗥𝗦𝗖³'𝘀 𝗺𝗶𝘀𝘀𝗶𝗼𝗻: The mission of the RSC³ is to establish a technology base that enables rapid provision of space-born capabilities – within a few days instead of years as of today. This includes a fast assembly and deployment of satellite systems into orbit. In this regard, storage and activation of space-qualified subsystems is one approach to make flight-ready spacecraft available within a very short time span. Responsive Space capabilities are crucial for maintaining and expanding the space infrastructure on which critical processes on Earth strongly depend, including communication, navigation, air traffic control, weather forecasting, and military reconnaissance. ⚙ 𝗦𝗽𝗲𝗰𝗶𝗮𝗹𝗶𝘇𝗲𝗱 𝗰𝗼𝗻𝘁𝗮𝗶𝗻𝗲𝗿: RST’s ISO 5 container ensures the highest standards of cleanliness and protection for sensitive satellite components. It features a pressurized calotte and a shock absorption system, safeguarding its valuable cargo against mechanical stress during transport. We are proud that DLR places its trust in RST’s MGSE expertise! 🌟 📷 DLR #DLR #Space #ResponsiveSpace #MGSE
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A future of robust, civil, military, and commercial activity in cislunar space is driving a need for updates to the global standards for spaceflight safety and disposal. Where do current policy and requirements fall short, and what can we do about it to ensure the sustainability of space beyond GEO? This study has found that many aspects of operating in the cislunar regime are incompatible with the current guidelines and requirements. If unified government action is not taken in the next two years, widely disparate standards of sustainability may be enforced by different organizations based on extemporaneous rulemaking in the absence of a concerted, quantitative effort to determine the best path forward. Read more here: https://lnkd.in/eH-Q4ZKT #Cislunar #Sustainability #SpacePolicy
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Managing Director and Board Member | Aerospace & Defense | Integrated Security Systems | Low Current | Audio/Visual | Telecommunication | Information Technology I Web Technologies
I was blown away by my visit to the Science Museum in London, particularly the Aerospace and Aviation section. For the first time ever, I saw a real V2 rocket, the very same kind of technology that paved the way for both modern missiles and space exploration! The Science Museum's comprehensive collection not only showcases the technological advancements in aviation but also highlights the human stories of pioneers and innovators who pushed the boundaries of flight. This blend of technology and human achievement makes the aerospace and aviation sections a truly inspiring part of the museum. #military #defense #defence #aerospace #aviation #aircraft #aircrafts #airplane #airplanes #aviationlovers #militaryaviation #militaryaircraft #fighterjet #engineering #technology #militarytechnology #defensetechnology #defenseinnovation #defenseindustry #airforce #technology #aerospace #space #spacemission #moon #rocket #rockets #spaceexploration #aerospace #satellite #satellites #spacetechnology #spaceinnovation #spacecraft #spacenews #spacestation
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Europe's aerospace clusters are as diverse as the regions they call home, let's get to know them - today we are looking at NAE (Normandie AeroEspace)!🚀✨ Unlocking the potential of Normandy's aerospace, defence, and security sectors, Normandie AeroEspace (NAE) has stood as a centre of excellence since its establishment in 1998. The cluster is comprised of 175 members (companies, start-ups, research institutes, educational establishments) fostering innovation and expertise. Home to industry giants such as Safran (Nacelles, Spacecraft Engines, Data Systems, Aerosystems), ArianeGroup, Naval Group, and Thales, NAE envisions a pivotal role for aerospace and defence with its members shaping projects at the heart of innovation. With a robust ecosystem of 21,500 employees contributing to cutting-edge technologies, including engines, nacelles, electronics, and maintenance, NAE ensures a comprehensive spectrum of expertise. NAE's services for its members span across five different strategic development areas. These being: Research, Technology & Innovation, Business & International, Employment & Training, Competitiveness, and Communication. Going beyond this, the cluster offers international modes of collaboration, boasting the "NAE EXPORT CLUB" since 2014 and fostering partnerships within the EACP. If you want to find out more about NAE (Normandie AeroEspace) and the other EACP member clusters feel free to check out our website. https://lnkd.in/eMmnnzxR 🌐✈️ #ClusterSpotlight #EACP #Cluster #Aerospace #Innovation #NAE #Aviation #Normandie Cutullic Samuel Marion Morel Fabienne Folliot Photo credit: ESA- NASA – Thomas Pesquet
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Finally, another bold and innovative concept! Jet Zero is attracting a lot of attention at the Singapore Airshow. The concept is considered to be one of the most advanced aircraft initiatives of the future and has received USD 250 million in funding to date. In addition to monetary support, it is backed and promoted by key organisations such as NASA, the US Airforce and the FAA, which underlines its credibility and potential. This partnership indicates a coordinated effort to address the challenges and opportunities associated with the development of advanced aircraft, emphasising a commitment to safety, regulatory compliance and overall excellence. In the competitive landscape of aerospace innovation, Jet Zero is a challenging competitor to European initiatives focussed on hydrogen-powered but fundamentally conservative aircraft designs. See: https://www.jetzero.aero/ #huzaerospace #aviation
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Have you secured your visitor trade pass for Farnborough International Airshow 2024?✈ This biennial event extends beyond a five-day gathering, serving as a catalyst for innovation and excellence within the aerospace and defense sectors on a global scale. #FIA2024 will center around six key themes, each of which carries a significant message for today's industry. These themes have been carefully curated to facilitate networking opportunities with industry peers and to explore potential collaborations in various areas. Prepare to delve into: 🚀Space ✨Defense 🌏Sustainability 🛠Innovation 🛩Future Flight 👩✈️Workforce Secure your pass today and get ready to join us for an airshow that not only showcases the future of the industry but also inspires progress and represents the Apex of Aviation! 📲 https://lnkd.in/eTM29aUn #ApexofAviation #Aerospace #Airshow #Space #Sustainability #Innovation #FutureFlight #Workforce #PioneerTomorrow #FuturePioneers
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Lecturer (Adj.)(Frmr) - Stanford Engineering (on extended unofficial medical leave); European|Asian Innovation Ecosystems; AI/Software/Semiconductors; Interaction Design, DesignThinking; Innovation sociology; ST&I Policy
9mo“$851.7 million in 2024” ?? That’s Bogus. A massive exaggeration and mis-forecast