Race towards Space Tourism

Why in news?

The modern space race has been launched between the billionaires of the 21^st Century to gain the first-mover advantage in the niche Space Tourism market.

In July 2021, Richard Branson became the 1^st Billionaire to fly into space, beating fellow billionaire and e-commerce giant Amazon founder Jeff Bezos in the new space race by nine days aboard a rocket made by Blue Origin, his space venture.

Both companies i.e. Branson’s Virgin Galactic and Bezos’s Blue Origin, are catering to wealthy tourists willing to pay top dollar for a short period of weightlessness and an unforgettable view of the Earth and heavens.

On similar lines, Tesla Founder Elon Musk, who also owns and operates SpaceX also plans to launch commercial operations as part of his space venture soon, as per media reports.