(MENAFN- PR Newswire) NEW YORK, April 14, 2021 /PRNewswire/ -- The space tourism market is expected to grow by USD 5.16 billion during 2021-2025, according to Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the space tourism market in optimistic, probable, and pessimistic forecast scenarios.
Enterprises will go through the Response, Recovery, and Renew phases.
Technavio has announced its latest market research report titled Space Tourism Market by Type and Geography - Forecast and Analysis 2021-2025
The space tourism market will witness a negative impact during the forecast period, owing to the widespread growth of the COVID-19 pandemic. As per Technavio's pandemic-focused market research, market growth is likely to increase in 2021 as compared to 2020
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renewal phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.
This post-pandemic business planning research will aid clients to:
- Adjust their strategic planning to move ahead once business stability kicks in.
- Build Resilience by making effective resource and investment choices for individual business units, products, and service lines.
- Conceptualize scenario-based planning to mitigate future crisis situations.
Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
Related Report on Consumer Discretionary Include:
Global Helicopter Tourism Market -
Global Adventure Tourism Market -
Major Three Space Tourism Market Participants:
Airbus SE The company offers a wide range of space portfolio services such as earth observation, telecom satellites, human spaceflight, launchers, space exploration, space equipment, and others.
Bigelow Aerospace LLC The company offers space habitat module, the B330 which is a next-generation inflatable space habitat.
Blue Origin Enterprises LP The company offers spacecraft for space tourism under the name, New Shepard.
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Space Tourism Market 2021-2025: Segmentation Space tourism market is segmented as below:
- Type
- Suborbital Tourism
- Orbital Tourism
- Technology
- Innovators
- Early Adopters
- Early Majority
- Geography
- North America
- Europe
- Asia
- ROW
The space tourism market is driven by the increased spending on travel and tourism. In addition, increasing investments in space tourism are expected to trigger the space tourism market toward witnessing a CAGR of almost 14% during the forecast period.
Get more insights into the global trends impacting the future of the space tourism market
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Us Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: Website: Report:
SOURCE Technavio
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