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Super fast travel using outer space could be $20 billion market, disrupting airlines, UBS predicts
* In a decade, high speed travel via outer space will represent an annual market of at least $20 billion and compete with long-distance airline flights, UBS says.
* UBS expects the broader space industry, which is worth about $400 billion today, will double to $805 billion by 2030.
* Long haul airplane flights that are more than 10 hours in duration would be cannibalized by point-to-point flights on rockets, UBS said.
UBS believes there will be very lucrative ramifications from the space flight efforts currently led by Virgin Galactic, SpaceX and Blue Origin.
A lengthy UBS report published on Sunday found that, in a decade, high speed travel via outer space will represent an annual market of at least $20 billion and compete with long-distance airline flights. Space tourism will be a $3 billion market by 2030, UBS estimates.
While space tourism is still at a nascent phase, we think that as technology becomes proven, and the cost falls due to technology and competition, space tourism will become more mainstream, UBS analysts Jarrod Castle and Myles Walton wrote in the note. Space tourism could be the stepping stone for the development of long-haul travel on earth serviced by space.
UBS expects the broader space industry, which is worth about $400 billion today, will double to $805 billion by 2030 when accounting for these innovations. While these sub-sectors would be a small part of that, Castle and Walton said "the outlook for the space economy, space tourism and long-haul travel using space has become much more bullish."
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UBS estimates that there are more than 150 million passengers a year that fly routes longer than 10 hours. Last year, those routes saw 527,000 routes on airplane that had an average of 309 seats, UBS said.
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* In a decade, high speed travel via outer space will represent an annual market of at least $20 billion and compete with long-distance airline flights, UBS says.
* UBS expects the broader space industry, which is worth about $400 billion today, will double to $805 billion by 2030.
* Long haul airplane flights that are more than 10 hours in duration would be cannibalized by point-to-point flights on rockets, UBS said.
UBS believes there will be very lucrative ramifications from the space flight efforts currently led by Virgin Galactic, SpaceX and Blue Origin.
A lengthy UBS report published on Sunday found that, in a decade, high speed travel via outer space will represent an annual market of at least $20 billion and compete with long-distance airline flights. Space tourism will be a $3 billion market by 2030, UBS estimates.
While space tourism is still at a nascent phase, we think that as technology becomes proven, and the cost falls due to technology and competition, space tourism will become more mainstream, UBS analysts Jarrod Castle and Myles Walton wrote in the note. Space tourism could be the stepping stone for the development of long-haul travel on earth serviced by space.
UBS expects the broader space industry, which is worth about $400 billion today, will double to $805 billion by 2030 when accounting for these innovations. While these sub-sectors would be a small part of that, Castle and Walton said "the outlook for the space economy, space tourism and long-haul travel using space has become much more bullish."
>
UBS estimates that there are more than 150 million passengers a year that fly routes longer than 10 hours. Last year, those routes saw 527,000 routes on airplane that had an average of 309 seats, UBS said.
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