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Is Space Tourism the Next Giant Leap?

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Is Space Tourism the Next Giant Leap? For UBS marketing purposes U.S. President Donald Trump speaks after the launch of the SpaceX Falcon 9 rocket and Crew Dragon spacecraft from Kennedy Space Center. (ddp) Longer term investment themes Is space tourism the next giant leap? 09 July 2020, 7:30 pm CEST, written by UBS Editorial Team SpaceX and NASA made history over the weekend, launching, for the first time from American soil, a commercially built vessel to the International Space Station (ISS). What does this collaboration mean for the future of space travel? American astronauts Robert Behnken and Douglas Hurley reached the ISS on Sunday and were greeted by fellow NASA astronaut Christopher Cassidy and Russian cosmonauts Anatoli Ivanishin and Ivan Vagner, who were already on board the station. This is a triumph for both SpaceX and NASA. Elon Musk, founder of SpaceX, has been working toward this moment since creating the company in 2002. Meanwhile, NASA has been scrutinized for its decision to partner with a commercial entity to design the spacecraft, after shutting down its own Space Shuttle program in 2011. While NASA has previously partnered with the private sector in various aspects, this was the first time it had handed over the entire design and development of a spacecraft to a private partner. What's new? SpaceX engineer John Federspiel said of the Crew Dragon, "We took a different approach to spaceship design…because we wanted this to feel like a 21st Century spaceship." He told the BBC that "probably one of the biggest features of Dragon are the touchscreens on the inside. We designed them not just to be very functional, but with a user experience in mind." Comfort was also kept in mind. "When I think of comfort for the astronauts, it's really every aspect of how you could interact with the spaceship that comes to mind," said Federspiel. "We have three different seat sizes, we even go so far as moulding the foam around the astronaut's body so there's not any pressure points and it's just generally a pleasurable journey into space." For UBS marketing purposes But in case anything goes wrong on the pad or during the climb to orbit, SpaceX has designed an innovative abort system for the capsule. The launch escape system (LES) consists of a set of SpaceX-designed "SuperDraco" engines that fire in the event of an emergency to propel the capsule and its crew safely away from the rocket, according to the BBC. Read more about the design. Space tourism? Sleekness and comfort will likely become more important as the prospect of recreational space travel grows. While Crew Dragon's mission this time is scientific - NASA plans to use data from this mission to certify the Crew Dragon to perform regular trips in space – its success will likely give a boost to various companies' commercial space tourism programs. SpaceX has already inked it first deal to launch space tourists into orbit. Musk has signed an agreement with space tourism company Space Adventures to put four passengers into orbit, a trip lasting five days. Space Adventures was the company that arranged a journey to the ISS for Dennis Tito in 2001. Tito is considered the first ever space tourist. At the time he paid USD 20 million for 8 days in orbit around the ISS. Meanwhile, more than 600 people have booked tickets on Virgin Galactic, and thousands have registered, according to the company. Tickets cost between USD 200,000 and USD 250,000, according to Wired. A typical space flight via Virgin Galactic will take six passengers, fly 110km into sub-orbital space and offer four minutes of weightlessness. Key to success “It will be some time before these companies can achieve payback on their initial investments, we believe ticket costs for sub-orbital space travel will remain expensive and out of range for most individuals,” says Chief Investment Office (CIO) analyst Carl Berrisford. But the key to the longer term success of space tourism will be rocket reusability, he says. “In the next two years, we’ll likely witness the first commercial space tourism flights to low orbit space by Virgin Galactic and Blue Origin and the launch of the first satellite internet service by SpaceX. These will be important catalysts for the space economy,” says Berrisford. The combination of declining space launch costs and advances in satellite technology could raise the value of the space economy. CIO expects the space economy to grow to become a USD 1tr market by 2028. How to invest in space? Investors can gain exposure to space via public stocks already engaged in rocket development and launch services, satellite manufacturing, satellite services and communications, says Berrisford. The number of investments in space has increased from eight in 2000–2004 to an average of 93 in the last five years, with the reported involvement of at least 16 of the world's richest billionaires. "Because space investment is still in its early stages, we foresee rising private investment as costs/entry barriers decline and new public listings of private space ventures increase." Space is a CIO longer term investment theme. Read more about investing in space in this report, 30 Nov. 2018. Main contributor: Wendy Mock Important information As a firm providing wealth management services to clients, UBS Financial Services, Inc is registered with the U.S. Securities and Exchange Commission (SEC) as an investment adviser and a broker-dealer, offering both investment advisory and brokerage services. Advisory services and brokerage services are separate and distinct, differ in material ways and are governed by different laws and separate contracts. It is important that you carefully read the agreements and disclosures UBS provides to you about the products or services offered. For more information, please visit our website at www.ubs.com/ workingwithus. ©UBS 2020. All rights reserved. UBS Financial Services Inc. is a subsidiary of UBS AG. Member FINRA/SIPC. There are two sources of UBS research. Reports from the first source, UBS CIO Wealth Management Research, are designed for individual investors and are produced by UBS Wealth Management Americas (which includes UBS Financial Services Inc. and UBS International Inc.) and UBS Wealth Management. The second research source is UBS Investment Research, and its reports are produced by UBS Investment Bank, whose primary business focus is institutional investors. The two sources operate independently and may therefore have different recommendations. The various research content provided does not take into account the unique investment objectives, financial situation or particular needs of any specific individual investor. If you have any questions, please consult your Financial Advisor. UBS Financial Services Inc. is a subsidiary of UBS AG and an affiliate of UBS International Inc..
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