Beyond the stars: navigating the economics of space exploration and commerce

Abstract

Space tourism has experienced significant growth in recent years, with the demand for space travel increasing at an annual rate of 40.2% from 2023 to 2030. Sub-orbital and orbital space tourism are two categories of space tourism. Sub-orbital tourism, led by Virgin Galactic and Blue Origin, aims to pass 300,000 miles and reach the Karman line. Orbital tourism, on the other hand, allows passengers to spend a few minutes in space at a height of 300,000 feet. Space travel offers an unforgettable experience that can impact one's viewpoint and awareness of the cosmos. However, there are some disadvantages, such as security concerns and the high cost of space travel.