The race to space is heating up indeed.
Yesterday, Sir Richard Branson became the first person to reach space in a vehicle that he funded himself. As far as Sundays go, his was quite eventful.
He beat jeffbezos by nine days to achieve this feat. Bezos is going to space on July 20th in a shuttle designed by his own company Blue Origin.
Do these billionaire expeditions help in democratising space travel in the future? If so, to what extent?
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The global space launch services market was valued at $8.9 billion in 2018 and is projected to reach $30.0 billion by 2026, growing at a CAGR of 17.2% from 2019 to 2026.The space launch services market is associated with the activities carried out by space launch service providers.
It consists of a series of events such as ordering, conversion, construction, stacking and assembly, integration of payload, and launch.
In addition, the increased government investments and private funds also impact the space launch services market growth significantly.
However, high initial costs associated with the launch services acts as a market restraint.
Also, the interoperability issues faced by companies discourage the space launch services market growth.
The lack of skilled workforce and resistance to adaptability toward new technologies is one more factor that hampers the space launch services market growth.
Analytical Research Cognizance has announced the addition of the “2018-2023 Global Space Tourism Market” by company, by country, and by application/type for the competitive landscape analysis.
The industry is expected to remain innovation-led, with frequent acquisitions and strategic alliances adopted as the key strategies by the players to increase their industry presence.
Manufacturers can take advantage of this situation by reinforcing their production units and supply-chains to avoid any delay in production turn-around-times (TAT) and supply-lead-times.
To date only orbital space tourism has taken place provided by the Russian Space Agency, although work continues developing sub-orbital space tourism vehicles by Blue Origin and Virgin Galactic.
In addition, SpaceX announced in 2017 that they are planning on sending two space tourists on a lunar free return trajectory in 2018 aboard their Dragon V2 spacecraft launched by the Falcon Heavy rocket.
This report presents a comprehensive overview, market shares and growth opportunities of Space Tourism market by product type, application, key companies and key regions.
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Global Reusable Satellite Launch Vehicle Market Report Information by Configuration (Single Stage, Multiple Stage), by Type (Partially Reusable, Fully Reusable), Vehicle Weight (Up to 4,000lbs, 4000-9000lbs, Over 9000lbs), & by Region - Forecast Till 2023Market ScenarioA Reusable Satellite Launch Vehicle (RSLV) refers to a vehicle which can be used for several missions.
Ideally, it takes off vertically on the back of an expendable rocket and then glides back down like an airplane.
A successful RSLV would undoubtedly cut down mission costs and make space travel more accessible.The satellite industry has witnessed substantial growth in the recent years with the launch of several satellites.
With the rapid advances in technologies, there have been many significant innovations and modifications across various industries worldwide.Get Report Sample : https://www.marketresearchfuture.com/sample_request/6157 The RSLV market has been segmented on the basis of configuration, type, vehicle weight, and region.
The growth of partially reusable market segment will continue at a moderate growth as the investments associated with the launch of these vehicles is quite low as compared to the fully reusable segment.RSLV is also being developed to bring down the costs associated with the development and launch of satellites.
RSLV helps in minimizing the manufacturing time, initial cost, and servicing costs of the vehicle.
December 16, 2019: British business magnate Richard Branson was in Mumbai last week to discuss the Pune-Mumbai hyperloop project with Maharashtra chief minister Uddhav Thackeray and launch the new London-Mumbai flight of Virgin Atlantic.
In 2008, Virgin Hyperloop One has committed to working with the state government to create the world’s first hyperloop transport project in between Mumbai and Pune to bring down the travel time from 3 hours to 30 minutes.
Virgin Atlantic had previously launched London-Mumbai flight in 2005 and 2012 only to withdraw them eventually in 2009 and 2015.
“I’ve always been so inspired by the entrepreneurial spirit of the Indian people.
I’m so excited that they’ve embraced the hyperloop concept and share our vision of creating new and sustainable transportation for the region,” said Richard Branson.
“The fact that Virgin Atlantic has returned to the Mumbai route for the third time shows how if you’re willing to accept when something isn’t working, and look at other options (hopefully to return to it when conditions are more favourable), then you might have a stronger shot at success,” he added.