European space exploration company EOS-X SPACE has announced its plans to commence space flights in Abu Dhabi by 2025. The company will begin operations in Abu Dhabi and Seville, Spain, around Q3 2025. The upcoming launch will follow the completion of the development of the Spaceship One manned capsules, with essential validation tests scheduled to take place with military pilots in collaboration with Spain’s National Institute for Aerospace Technology (INTA).
EOS-X SPACE is preparing for a crucial second half of 2024 to finalise its entry into the burgeoning space tourism industry, which is currently valued at over $9bn.
Abu Dhabi will host the company’s largest global facility, which will include a spaceport, shuttle and a major hotel complex on Yas Island. The company also plans to establish a third facility in Tulum, Mexico, projected to open by 2026.
The planned investment for the Abu Dhabi and Seville facilities is expected to exceed $230m in engineering and development. Presently, EOS-X SPACE is raising funds through a €115m Series D investment round led by US investment bank FTI Capital Advisor.
With the potential of this emerging tourism sector, EOS-X SPACE has ambitious scalability forecasts. The company anticipates a 220% revenue growth over the next five years, aiming for solid profitability from its first operational year.
Founder and CEO Kemel Kharbachi, along with his management team, estimates that in 2025, combined revenues from the Spanish and Abu Dhabi operations could reach $353m, with a gross profit margin of 19%. By 2029, the company aims to achieve a turnover of $1.127bn and a gross profit of $324m, reflecting a 23.3% increase in profit compared to the previous year. Overall, profits are expected to rise by 220% between 2025 and 2029.
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