Virgin Galactic 2020

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The space industry has experienced a profound paradigm shift, once the exclusive domain of governments, the industry has become increasingly accessible to new entrants founded by ambitious and well-resourced entrepreneurs. The industry is at the forefront of innovation on several aspects, and has a promising future, being forecasted to reach $1trillion by 2040. Virgin Group was founded by Sir Richard Branson in 2004 with the goal of developing commercial spacecrafts to provide suborbital spaceflights to tourist. Virgin Galactic is trying to democratize access to space, enabling normal citizens to become astronauts. On July 2019, Virgin Galactic announced its merger with Social Capital Hedosophia (SCH), creating the world´s first and only public traded commercial human spaceflight company. The merger gave a much needed capital for the development of their SpaceShipTwo suborbital vehicle. The industry is changing at a fast pace. Companies like SpaceX and Blue Origin are introducing their own space tourism programs, bringing competitiveness to an already niche market. Will Virgin Galactic be able to keep the company competitive in the long run? Should Virgin Galactic pursue other adjacent business opportunities, such as supersonic flights and in-space research services along its space tourism business?

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