The Middle East and Africa Space Tourism Market size was valued at USD 13.3688 million in 2022 and the total Middle East and Africa Space Tourism Market revenue is expected to grow at a CAGR of 13.60%from 2023 to 2029, reaching nearly USD 37.08 Million. Space exploration characterizes the human race’s continued tracking down to push all boundaries and to make the impossible possible. The space tourism industry has witnessed growth and innovation. The Middle East and Africa Space Tourism Market is driven by space stations, satellite launchers, material sciences, exploration missions, scientific experiments, and other advanced technologies. The Middle East and Africa seeing a significant transformation of strategic drives in the space sector across the region to drive the Middle East and Africa Space Tourism Market, such as Saudi Arabia’s evolving instruction and the UAE’s remarkable Emirates Mars Mission in 2021 and the deployment of the Hope probe. A combined investment effort between the governmental sector, international original equipment manufacturers (OEMs), and local industry will be the main driver of growth in the Middle East & Space Tourism Market. The key drivers of growth in terms of subsectors will specifically be the areas of satellite launches, space tourism, earth observations, satellite communication, space research & development, space mining, space exploration, space debris, and manufacturing, with satellites alone expected to account for 59% of the growth of the global space industry. The Middle East & Africa Space tourism industry is creating new opportunities to strengthen the foundations of the emerging Middle East space sector and build capabilities and infrastructure to thrive in the Space future. ME & A need to bridge the gap between the ambitions of the government and emerging private Space tourism companies on the one hand, and world-class capabilities in manufacturing, science, and aeronautics on the other - all while involving regional talent and supporting localization agendas to dive the Middle East and Africa Space Tourism Market. Driving strategic national impact driving strategic national effect, this growth presents the Middle Eastern governments with several chances to advance in six strategic fields, all of which are essential to the expansion and transformation of the space sector.
Future considerations for the space tourism market will depend on the fluctuating cost of satellite developments and space exploration increases the volume of regional players of all sizes, there are yet to be effective governance tools regulating the sector. There is a clear gap in policy development, with effective regulation missing in key industries such as activation of enforcement principles, space traffic control, and satellite launches, which negatively impact the space tourism industry. The Middle East and Africa Space Tourism Market report covered a detailed analysis of growth drivers, funding from regional governments, and international cooperation. Competitive analysis of Space tourism companies with benchmarking.
Economic Diversification Through national strategic goals like Vision 2030, oil-dependent countries in the area including KSA and the UAE have focused on diversifying their economies. Space economy could provide a new industry for local economies to expand into. R&D Superiority Companies innovate and embrace fresh concepts to remodel their ambitions and seize new chances in developing industries. Having a robust R&D presence in space will boost market involvement and lessen uncertainty in the future. Military Interoperability Military interoperability is becoming a crucial skill for all armed forces worldwide. It enables the various branches to collaborate and carry out joint activities. Future military efficiency depends on continued progress, and using satellites and space technology is essential to gaining strategic and operational benefits. Human Capital Development Programs for enhancing human capital have been incorporated into regional and national agendas. To be prepared for the present and future labour markets, these initiatives seek to increase the competitiveness of national human capacities locally and internationally. Institutional Cooperation Participation in international initiatives and partnerships boosts a country's diplomatic influence and the advantages that result from the partnership. Future planning that might go beyond the space industry is strengthened by international cooperation at the public and commercial sector levels. Geospatial Capabilities A crucial and fundamental part of the development of geospatial capabilities is played by governments. They offer evidence-based solutions to social, economic, and environmental problems that rely on earth observation, urban sensing, mobile contact tracking, and other techniques by providing the necessary space infrastructure.
Middle East and Africa Space Tourism Market SnapshotTo know about the Research Methodology :- Request Free Sample Report
Middle East and Africa Space Tourism Market Regional Insights:UAE is expected to dominate the Middle East and Africa Space Tourism Market during the forecast period. The UAE government has started the most ambitious space program in the Middle East and North Africa (MENA) region. In addition to its planned human spaceflight program, the UAE has shown a growing interest in space in recent years by creating a national space agency and supporting satellite programs. On April 12, 2017, the UAE announced the creation of the National Space Program, through which it will educate Emirati cadres with an emphasis on airspace sciences. Over $5.4 billion has already been invested in space technology by the whole country to drive the Middle East and Africa Space Tourism Market. The growing demand for the Middle East and Africa Space Tourism Market due to UAE's dedication to space research and innovation is seen in the numerous projects and programs it has put in place to guarantee the long-term success of its domestic space sector. The International Space Station (ISS) in March as part of NASA's SpaceX Crew-6 Mission, the Arab world's first long-duration space mission and the UAE's second trip to the ISS, space exploration, which is of great significance to the United Arab Emirates, took another significant step forward. The Emirates Mars Mission, which in 2021 sent the country's initial spacecraft, the Hope Probe, to Mars, is one of the most significant instances of the UAE's space diplomacy as a growing space power.
In 2022, the UAE launched an $820 million fund to boost space initiatives, with the first investment going toward the establishment of a remote sensing satellite constellation. One of the UAE space program’s main objectives is to ensure the security and sustainability of its space assets. The UAE operates several satellites for various purposes, including remote sensing, Earth observation, and communication. These satellites are critical for the UAE’s economic, social, and strategic development.
Country Analysis and Future of Space Tourism United Arab Emirates The UAE aims to send a small lunar rover to the moon in 2024, and in 2028, it intends to launch an interplanetary mission that will first go to Venus' orbit before visiting the asteroid belt beyond Mars. The Artemis Accords, which are in line with the UAE's long-term plans to explore space and work with other countries to get a greater knowledge of the solar system, were signed by the UAE Space Agency in 2020. Saudi Arabia Around $1 billion was invested in Virgin Galactic's space travel initiatives by Saudi Arabia's sovereign wealth fund, the Public Investment Fund. The Kingdom is making progress toward space tourism, as seen by their relationship with Virgin Group. Egypt Egypt has begun construction on Space City, a complex of 23 buildings designed to advance space-related research, education, and development while also increasing Egypt's capacity for satellite production and design. The proposal is expected to be finished in 2026. Oman By the end of 2022, Oman is targeting the Omani CubeSat, its first satellite. The satellite will be launched in collaboration with Virgin Orbit with the intention of conducting research and collecting images of space. The future Omani satellite project is being worked on by the Oman Space Communications and Technology (SCT), with a target launch date of 2024. SCT is committed to utilizing the most recent innovations in satellite construction technology and collaborating with the biggest global satellite manufacturers. Kuwait The first GCC suborbital liquid bipropellant rocket, the Kuwait Space Rocket (KSR), will be launched by Kuwait. By 2023, plans call for designing and producing the rocket domestically. The 'Experiment on the Moon' project is scheduled to launch in 2024 and is being directed by Orbital Space, the first Middle Eastern private space company. The initiative intends to be the second lunar expedition after the UAE and the first private Moon mission from the Arab world.
Middle East and Africa Space Tourism Market Scope: Inquire before buying
Middle East and Africa Space Tourism Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2018 to 2022 Market Size in 2022: US $ 13.36 Bn. Forecast Period 2023 to 2029 CAGR: 13.6% Market Size in 2029: US $ 37.08 Bn. Segments Covered: by Type Outlook Orbital Sub-Orbital Others by End-User Government Commercial Other
Middle East and Africa Space Tourism Market by Country:• South Africa • GCC, Egypt • Nigeria • Rest of ME&A
Middle East and Africa Space Tourism Market Key Players:• Axiom Space (Middle East)
FAQs:1. What are the growth drivers for the Middle East and Africa Space Tourism Market? Ans. Sub-orbital travel's growing popularity is the major driver for the Middle East and Africa market. 2. What is the major restraint for the Middle East and Africa Space Tourism Market growth? Ans. Growing environmental negative impacts are expected to be the major restraining factor for the Middle East and Africa market growth. 3. Which country is expected to lead the global Middle East and Africa Space Tourism Market during the forecast period? Ans. UAE is expected to lead the Middle East and Africa Space Tourism Market during the forecast period. 4. What is the projected Europe Middle East and Africa Space Tourism Market size & growth rate of the Middle East and Africa Space Tourism Market? Ans. The Middle East and Africamarket size was valued at USD 13.3688 Million in 2022 and the total Anime revenue is expected to grow at a CAGR of 13.60% from 2023 to 2029, reaching nearly USD 37.08 Million. 5. What segments are covered in the Middle East and Africa Space Tourism Market report? Ans. The segments covered in the Middle East and Africa market report are Type Outlook, End-User type, and Region
1. Middle East and Africa Space Tourism Market: Research Methodology 2. Middle East and Africa Space Tourism Market: Executive Summary 3. Middle East and Africa Space Tourism Market: Competitive Landscape 3.1. MMR Competition Matrix 3.2. Competitive Landscape 3.3. Key Players Benchmarking 3.4. Market Structure 3.4.1. Market Leaders 3.4.2. Market Followers 3.4.3. Emerging Players 3.5. Consolidation of the Market 4. Middle East and Africa Space Tourism Market: Dynamics 4.1. Market Trends by Country 4.2. Market Drivers by Country 4.3. Market Restraints 4.4. Market Opportunities 4.5. Market Challenges 4.6. PORTER’s Five Forces Analysis 4.7. PESTLE Analysis 4.8. Value Chain Analysis 4.9. Regulatory Landscape 5. Middle East and Africa Space Tourism Market Size and Forecast by Segments (by Value USD and Volume Units) 5.1. Middle East and Africa Space Tourism Market Size and Forecast, by Type Outlook (2022-2029) 5.1.1. Orbital 5.1.2. Sub-Orbital 5.1.3. Others 5.2. Middle East and Africa Space Tourism Market Size and Forecast, by End-User(2022-2029) 5.2.1. Government 5.2.2. Commercial 5.2.3. Other 5.3. Middle East and Africa Space Tourism Market Size and Forecast, by Country (2022-2029) 5.3.1. South Africa 5.3.2. GCC 5.3.3. Egypt 5.3.4. Nigeria 5.3.5. Rest of ME&A 6. Company Profile: Key players 6.1.1. Company Overview 6.1.2. Financial Overview 6.1.3. Business Portfolio 6.1.4. SWOT Analysis 6.1.5. Business Strategy 6.1.6. Recent Developments 6.2. Axiom Space (Middle East) 6.3. Other 7. Key Findings 8. Industry Recommendation