The idea of space travel is out of this world.
While space tourism companies aren’t ready to send folks into space just yet, we’re one step closer. In fact, weeks after Blue Origin carried out another successful test of its New Shepard rocket, Virgin Galactic had a successful test over the weekend.
“The flight carried two pilots to an altitude of 55.45 miles, according to the company, positioning Virgin Galactic to begin launching paying customers within the next year. The 50-mile mark is considered to be where the earth’s atmosphere ends and space begins,” says CNN.
From here, the company still needs to get through three more flights. The next one will carry four passengers to test the spacecraft cabin. Then, Richard Branson will fly.
Better, there’s already a good deal of demand.
For one, according to analysts at Cowen, “39% of people with a net worth of more than $5 million are interested in paying at least $250,000 for a flight.” In addition, by 2040, Morgan Stanley believes the space tourism industry could be worth about $1 trillion.
Two, Virgin Galactic already has 600 customers ready to blast off at $250,000 a ticket. All for a 90-minute trip that will take them about 60 miles above the Earth.
If we see even more progress, space tourism investments could rocket to higher highs.
Stay tuned for more on this developing story.
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