- Press Release
- Nov 30, 2022
Suborbital Reusable Vehicles: A 10-Year Forecast of Market Demand Released
Space Florida – the State of Florida’s spaceport authority and aerospace economic development agency – and the Federal Aviation Administration Office of Commercial Space (FAA-AST) – partnered in November 2011 to commission a study prepared by The Tauri Group, on the forecast 10-year demand for suborbital reusable vehicles. The research and analysis-focused process is considered a conservative first analysis of the suborbital flight segments for personal spaceflight and science missions. The analysis included interviewing 120 potential users and providers; polling 60 researchers; and assessing budgets, market studies, and other data. A structured survey of more than 200 ultra-high net-worth individuals was also conducted. The results of that study are being made available to the public today via the Space Florida and FAA websites.
“Suborbital Reusable Vehicles: A 10-Year Forecast of Market Demand” defined some of the more likely market segments with the most potential for utilization of the suborbital launch capabilities including commercial human spaceflight, basic and applied research, satellite deployment, education, aerospace technology test and demonstration and media/advertising.
The study limited the target demographic to focus primarily on ultra-high net worth individuals, which ensured a conservative approach to the forecast. The results, which also identified ways the government and commercial sector could impact the industry, revealed that the suborbital market could be worth up to $1.6 Billion over the next 10 years.
“This study reveals great promise for the suborbital spaceflight industry,” noted Space Florida President and CEO Frank DiBello. “Florida has made significant investments to jumpstart growth in suborbital spaceflight through direct investments in suborbital companies, spaceport infrastructure, purchase of launch services, and developing the market through a flight incentive program.”
Facilities that are prepped for launch in Florida include Cecil Field Spaceport, Launch Complex and Kennedy Space Center’s Shuttle Landing Facility.
To view the complete results of “Suborbital Reusable Vehicles: A Ten-Year Forecast of Market Demand”, visit www.spaceflorida.gov.