Space tourism set to launch by 2014

The Obama administration is preparing for a space tourism industry that is expected to be worth $1 billion in 10 years, the head of the Federal Aviation Administration (FAA) commercial space office said on Tuesday. Rocket airplanes and spaceships to carry passengers beyond the atmosphere are being built and tested, with commercial flight services targeted to begin in 2013 or 2014. “Based on market studies, we expect to see this type of activity result in a $1 billion industry within the next 10 years,” George Nield, an associate administrator for the FAA’s Office of Commercial Space Transportation testified before the House Subcommittee on Space and Aeronautics.