There have been a lot of setbacks to space tourism initiatives around the world from NASA shutting down its Space Shuttle program to the tragic Virgin Galactic accident, yet Russia announced earlier this year that it will be resurrecting its own program in 2018. Between 2001 and 2009, the Russian space tourism program sent up seven paying travelers. British soprano Sarah Brightman is due to blast off on Sept. 1, 2015, as the first exception in years.
As written on Mashable, "RKK Energia, a state-controlled rocket manufacturer, said in a quarterly report released on Tuesday that it plans to make up for an expected drop in demand for manned flights by resuming space tourism in 2018."
What's Driving This Trend
- Space Tourism Re-entering the Market
- Russia is leading the charge in bringing back space tourism, presenting an opportunity for companies to develop new space travel experiences.
- Commercial Space Travel
- The re-awakening of Russia's Space Tourism Program could be the catalyst for commercial space travel becoming a common occurrence.
- Rise of Private Space Companies
- With the decline of government-funded space programs, private companies have an opportunity to become major players in the space industry.
Who This Affects Most
- Aerospace and Defense
- The Aerospace and Defense industry has the chance to harness the renewed demand for space travel to create new products to serve both space tourism and commercial space exploration.
- Hospitality and Tourism
- The hospitality and tourism industry can work with space travel companies to create tourism packages that include space travel experiences, setting themselves apart in a highly competitive market.
- Transportation
- Space travel is a new form of transportation, and transportation companies have an opportunity to develop new products and services for this rapidly evolving market.
