CCTV scenario 07/21/21

–This is the script for CNBC’s report for CCTV in China on July 21, 2021, Wednesday.

From Elon Musk to Richard Branson and Jeff Bezos, billionaires clash in space. The two recent successful flights launched by Virgin Galactic and Blue Origins have boosted public interest in space tourism.

The physical demands of commercial space travelers are much lower than those of professional astronauts. People as young as 18 or 70 can travel in space, making it much easier for ordinary people. Virgin Glacis and Blue Origins flights have taken off and landed in different ways, appealing to different groups of people. However, both trips only lasted a few minutes and the experience in zero gravity was very brief. An unknown individual bid for a ticket priced at US $ 28 million, which means the theft cost tens of millions of Chinese yuan per minute. UBS interviewed more than 6,000 high net worth individuals. About 20% said they are “likely to buy a ticket within a year” when the company begins scheduled flights, and about 35% will consider “after several years of safe operation”.

The majority take a wait-and-see approach. And safety is the key consideration. Although manned flights were mostly successful, there were accidents. In 2014, Virgin Galactic’s test flight crashed, leaving one dead and another injured.

At the moment, space insurance only covers rocket launches. There is no specific policy for commercial passengers. This portion is covered by life insurance, just like extreme sports. AXA, a global insurer, said it was considering passenger insurance specifically for space tourism. It can help allay some worries.

Besides safety, the marketing campaigns of these companies have focused on a comfortable and unique experience, such as cool spacesuits. In addition to suborbital flights, space travel companies are also aiming to send passengers to a higher altitude and allow them to stay in space longer.

In 2001, US millionaire Dennis Tito spent US $ 20 million to get to the International Space Station. After that, personalized space travel became popular among the super-rich. Now all eyes are on the in-orbit flight Musk’s SpaceX plans to launch in September, which would push space tourism to new heights. Musk himself will not be in the flight.

Ron epstein

BofA Global Research

Senior Aerospace and Defense Analyst

“Today when you look at space tourism, it’s like taking a plane ride instead of using a plane for transportation. And finally, I think the real big dollars are the next step. Take people out. from point a to point b, using a space vehicle that could be hypersonic transport or whatever. But it’s just a small step in a much bigger direction. We estimate the space markets, including l government space, from about $ 415 billion today to about $ 1.4 trillion over the next decade. That’s about 10% growth per year. “

It should be noted that a representative for a US house requested a tax on leisure travel in space, which to some extent reflects the growing popularity of space travel.

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