SpaceX’s Triumph Over Space Tourism Competitors:Know about the latest updates

Published on September 22, 2024

Key Points:

• SpaceX completed the first-ever private spacewalk during its Polaris Dawn mission.
• Virgin Galactic and Blue Origin initially led the space tourism industry, charging between $250,000 and $1.3 million per ticket.
• SpaceX is already undercutting these prices, with potential to lower them even further in the future.

The space tourism industry, once led by Virgin Galactic and Blue Origin, is now facing fierce competition from SpaceX, which seems poised to dominate the market.

For three years, Virgin Galactic and Blue Origin have been battling for dominance in this emerging industry. Both companies successfully launched space tourists on suborbital flights beginning in 2021. Virgin Galactic has completed seven commercial flights, while Blue Origin has sent space tourists on eight trips aboard its New Shepard rocket.

However, the time spent in space during these flights is quite short, usually just a few minutes. This has led some to question the value, especially when ticket prices range from $250,000 to $900,000 with Virgin Galactic, and reportedly as high as $1.3 million with Blue Origin.

SpaceX Enters the Scene

SpaceX has emerged as a game-changer in the space tourism sector. In the past, it was suggested that SpaceX’s Starship, capable of carrying 100 passengers at a time with a $10 million launch cost, could offer tickets as low as $100,000 — significantly undercutting Virgin Galactic and Blue Origin.

While SpaceX has not reached that price point yet, the company’s recent Polaris Dawn mission is a major step forward. During this mission, four private astronauts orbited Earth at 450 miles above the surface, three times higher than the International Space Station. Notably, two of the crew members conducted the first-ever private spacewalk.

The Polaris Dawn Mission Cost

While the cost of Polaris Dawn was much higher than current Virgin Galactic and Blue Origin prices, a closer look suggests that SpaceX may offer better value. Virgin Galactic charges at least $250,000 for just a few minutes in space, which comes out to $25,000 per minute.

In contrast, SpaceX’s Polaris Dawn mission lasted five days, or 7,200 minutes. Even if SpaceX charged the NASA rate of $72 million per seat, the per-minute cost would be just $10,000 — a 60% discount compared to Virgin Galactic and Blue Origin.

Future Prospects for SpaceX

SpaceX is just getting started. Its Crew Dragon spacecraft currently carries only four passengers per flight, but it can carry up to seven, meaning future missions could offer even lower prices per seat. Furthermore, as SpaceX continues to develop its Starship, which will be capable of carrying 100 passengers, ticket prices could drop to mere thousands rather than millions.

While space tourism is not SpaceX’s primary focus, the company has shown that it can dominate this market if it chooses to.

Conclusion

SpaceX is well on its way to becoming the leader in the space tourism industry, undercutting competitors like Virgin Galactic and Blue Origin in terms of value. With plans for larger spacecraft and longer missions, SpaceX could soon make space tourism more accessible than ever before.

Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.