Richard Branson believes there are plenty of opportunities to be had in the market for companies to fly tourists to space. It will significantly reduce the prices of tickets to keep them more competitive.

Sir Branson Believes in Space Tourism

Possibly the very first space billionaire to win the space race, Sir Richard Branson said in an interview with CNBC that there is ample room for 20 space companies to ferry tourists to and fro. Right now, companies like SpaceX, Virgin Galactic, and Blue Origin are vying for worldwide attention in their race but there's more to it.

Branson believes that the more spaceships companies can build will bring the price down just enough to make it more appealing for people to get on the bandwagon. He also added that it will be enough to satisfy the most certain demand over time. 

Virgin Galactic management previously said that there will be millions of tourists who are willing to pay the amount of at least $250,000 for a single ticket to go and experience space in the next decade. 

Read More: Richard Branson to Beat Jeff Bezos, Blue Origins in Launching to Orbit with Virgin Galactic's July 11 Flight

Suborbital and Orbital Tourism a Real Possibility

Companies like Blue Origin and Virgin Galactic focus on bringing passengers on short flights right at the edge of space, known as suborbital tourism. Meanwhile, SpaceX plans to bring passengers further into space for multiple days at a time, now known as orbital tourism.

Regardless, the prices of each vary wildly for as low as hundreds of thousands of U.S. dollars for suborbital flights, while orbital flights can cost in the tens of millions.

Each company uses different types of rockets and methods to bring space tourists closer to the stars. Blue Origin's New Shepard can launch straight up from the ground to space in a very traditional way as to how we're used to seeing spaceships fly like in the movies. 

Virgin Galactic's SpaceShipTwo utilizes a system mid-air and safely returns it to the Earth in order for it to glide just like an airplane does before setting down on an aircraft runway. SpaceX launches its Crew Dragon spacecraft into orbit on top of its reusable Falcon 9 rockets that have already sent 10 astronauts to the International Space Station on three separate missions.

Space Tourism is Booming

Branson has said, "There's never been a time in space that has been as exciting as right now ... it's a 'pinch me' moment, as his company, Virgin Galactic, is among the first to go public with their plans to go public and bring space tourism into the fold.

CNBC asked the question to Branson if he thinks the space market is growing too fast, and Branson brushed off the remark saying that the "space world is only just starting." Right now, the space market is said to take almost 70 percent of the budget just to maintain its operations, while 30% is considered a profit. 

There are already 630 people waiting anxiously for the chance to fly to the suborbital with the help of Virgin Galactic.

Read More: FAA Says Yes to Virgin Galactic's Commercial Flights! Space Tourism Now Begins

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Written by Alec G.

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