Current Market Outlook for Space Business of Space Tourism

Abstract

This report covers some potential obstacles countries and companies may face when developing space tourism programs. The biggest hurdle will be the technology; companies like SpaceX, Boeing, and Virgin Galactic have good designs, but making those designs may prove to be more difficult. Another big issue that needs to be addressed is International Space Law. Many of the treaties were written at the beginning of the space race and only apply to trained astronauts. There will need to be new or revised treaties to cover the limits of private companies and the civilians they transport to space. The third issue covered is the safety and ethics of sending humans to space for a profit. Trained astronauts go through extensive programs to ensure they are ready for the elements of space. Proper measures will need to be taken to make sure civilians will have a safe and enjoyable trip. All of these topics are addressed in detail in this report; in the end however, it is evident that a few companies are on the right path to sending tourists to space.

Introduction

For centuries, the idea of space has intrigued scientists and engineers who constantly searched for ways to learn more and eventually get there. In 1961, during the heart of the Cold War, Russian cosmonaut, Yuri Gagarin, became the first person in space. Ever since that first major accomplishment, space agencies around the world have tried to push the limits of both the human body and the rapidly advancing technology (National Geographic, 2014). The United States and Russia have continuously been key figures in the space race and combined they have achieved many spectacular feats.

Arguably the most impressive accomplishment in space has been the launch of the International Space Station (ISS), which was launched on October 31, 2000.